RENO, NV-NorthMarq Capital has opened a new office in Reno, NV, and has named Thomas J. Powell as managing producer. Previously, Powell served as chief executive officer of ELP Capital, a private money management firm and registered investment advisor.
“We are pleased to be able to have a strong presence in Nevada,” says Edward Padilla, CEO of NorthMarq Capital. “We already have a solid base in the western region of the U.S. and we know that our new office in Reno will enhance that standing.” The company currently offers commercial mortgage banking in 33 offices coast-to-coast.
Larry Stephenson, NorthMarq executive vice president, tells GlobeSt.com that the Reno office was opened in response NorthMarq doing an increasing amount of business in the State. “The depressed housing market in Nevada has resulted in some opportunistic buying by clients from all over the country,” he says. “NorthMarq is fortunate to represent, among other lenders, both Fannie Mae (through our partially owned affiliate AmeriSphere Multifamily Finance) and Freddie Mac. These two lenders are the market leaders and they feel that lending in the Nevada market is a pretty safe bet today because they are able to make conservative loans on properties that have been bought at attractive prices.”
Powell, who will be working with NorthMarq loan originators from other offices on properties located in Nevada as well as looking for his own opportunities to originate loans, according to Stephenson, is also the author of a weekly economic newsletter, “The Powell Perspective” and of “Standing in the Rain.” He has also served as a national trustee for the Boys and Girls Clubs of America.
NorthMarq currently services a loan portfolio of nearly $40 billion in multifamily and commercial properties for numerous institutional investors.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
