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.

NorthMarq Capital Arranges $18M in Financing for The Park Atrium

NorthMarq Capital announced this month that it had arranged $18 million in financing for The Park Atrium in Westbury, New York to refinance an existing loan originated in 2006. Financing was based on a 5-year term and a 30-year amortization schedule and was arranged for the borrower by NorthMarq through its correspondent relationship with a National Life Insurance Company. Ernest DesRochers, Senior Vice President and Managing Director at NorthMarq, noted in a statement that the new loan facility allowed the borrower to recapture excess loan proceeds.

The Park Atrium is a 116,943 square foot office building located at 865 Merrick Avenue The Class A building was originally constructed in 1971 The building was recently renovated including upgrades to include banking, a conferencing facility, renovated atrium and Armor Traction elevators. Park View Atrium is conveniently located in Westbury, NY, only a five minute walk to the Westbury train station, with bus lines stopping in front of the building, and a hotel nearby.

For more news and information visit Blumberg Capital Partners.