Minneapolis-based NorthMarq Capital has acquired Western Capital Realty Advisors, a commercial mortgage banking firm in Salt Lake City, making it NorthMarq’s 37th office. Western Realty Capital’s founder, John Bradshaw, will become a managing director for NorthMarq. The acquisition includes a $400 million loan servicing portfolio.
“We believe Western’s culture and commitment to clients will be a perfect fit with NorthMarq Capital’s platform and people,” said Ed Padilla, CEO of NorthMarq. “This acquisition is very similar to others our firm has made in the last 20 years, and our remarkable growth has been due in part to how well each acquisition has fit into our company. We welcome the Western team and look forward to helping them leverage our large network of lender relationships for their current and future clients.”
“I scoured the country for the right fit. I am excited to say that NorthMarq was perfect for us,” said Bradshaw. “This gives the Salt Lake City team more muscle from new lending relationships with Fannie Mae, Freddie Mac, HUD and other commercial real estate lenders. I am happy to bring my highly experienced team of industry veterans and our clients into this larger organization.” Bradshaw, who has been in mortgage banking for more than 30 years, started Western in 1996.
In addition to Bradshaw, principals Nate Barnson, Larry Pinnock and Dale Christiansen will join NorthMarq with key employees Tara Jewkes and Tom Bradshaw. The firm’s principals have completed more than $4 billion in commercial real estate debt and equity transactions and have deep relationships with many Utah-based developers. The office began operating as NorthMarq Capital last month.
NorthMarq Capital provides debt, equity and commercial loan servicing through its 37 offices in the United States, resulting in nearly $13 billion in annual production volume and a loan portfolio of more than $50 billion.