PHILADELPHIA-NorthMarq Capital has hired Ed Brown and Philip E. Deeter to join its mortgage-banking team in the Philadelphia office, GlobeSt.com has learned exclusively. Brown and Deeter are co-founders of Devon Realty Capital, which was the Philadelphia office of Q10 Capital.
With DRC, the pair had originated more than $1 billion in commercial real estate loan since 2005. NorthMarq executives said that Brown and Deeter’s 30 years’ experience in the business adds depth and firepower to NorthMarq’s bid for prominence in the Northeast.
“With the NorthMarq platform of strong support in servicing and lender relationships, we are confident they will help our Philadelphia office become one of the top production teams in the region,” says William Ross, NorthMarq’s co-president. Ross oversees the Eastern half of the United States from his office in Dallas, while Tim O’Connor is the Eastern regional director.
NorthMarq has 33 offices around the country. It acquired Q10’s Boston office earlier this year.
Senior analyst Caroline Bruckner Madden, a certified appraiser, is also joining the NorthMarq Philadelphia team from DRC. The team now includes four loan producers and three analysts. Ed, Phil, and Joe Sweeney will be the managing directors for the office.
The office has recently completely commercial transactions that include a $60-million loan for the Oxford Valley Plaza regional retail power center in Langhorne, PA and a $23-million financing of a garden apartment building in Bethlehem, PA.
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