NorthMarq Completes AmeriSphere Acquisition

NorthMarq Capital announced this week that it had completed the acquisition of AmeriSphere Multifamily Finance, a Fannie Mae DUS and FHA MAP lender from its founding partner Rodrigo Lopez and the investment firm McCarthy Capital (Fulcrum). NorthMarq previous held a 40% stake in Amerisphere; with the deal finalized, Amerisphere will now operate as a wholly-owned subsidiary, NorthMarq Capital Finance. Jay Donaldson has been appointed president of the NorthMarq Capital Finance group; Scott Suttle continues as executive vice president and national production director. Both will join NorthMarq Capital's Executive Leadership Team and report to Eduardo "Ed" Padilla, CEO-NorthMarq Capital and NorthMarq Capital Finance.

"NorthMarq's acquisition is the logical culmination of a very successful decade-long relationship. Because of NorthMarq's outstanding loan producers and excellent borrower clients, the AmeriSphere team will continue growing the best performing portfolio in our industry," said Amerisphere founding partner Rodrigo Lopez.

"This acquisition strengthens our multifamily platform and leverages our existing production platform throughout the U.S.," said Padilla. "Robust Fannie Mae and HUD offerings are a great complement to our Freddie Mac platform and create the best options for our borrower clients."

For more news and information visit Blumberg Capital Partners.

Gregorie Ferry Landing Project Gets $26M FHA Loan

Grandbridge Real Estate Capital closed on a $26,801,800 first mortgage loan funded through FHA’s 221(d)(4) loan product earlier this month. The loan was secured by the Gregorie Ferry Landing Apartments, a proposed 240-unit, Class "A" mid-rise property in Mount Pleasant, South Carolina.

"A great team of professionals all around made this deal possible. The HUD 221(d)(4) loan process requires a combination of hard work, the right timing and the right team to make the deal work," said Grandbridge Senior Vice President Mike Ortlip. "The borrower, Tony Berry, with the Berry Company, along with the Samet Corporation, a general contracting firm represented by Arthur Samet, David Greene and Alton Tew, and Grandbridge’s FHA Underwriting team lead by Senior Vice President Tim Duncan, all worked together, bringing their unique expertise to the process. This was the first 221(d)(4) transaction in South Carolina to be approved by HUD’s new national loan committee."

For more news and information visit Blumberg Capital Partners.