NorthMarq Grows Servicing Portfolio With Acquisition
NorthMarq’s acquisition of Texas Realty Capital adds a fourth NorthMarq location in Texas and a servicing portfolio of $900 million, which brings the total portfolio to more than $56 billion.
AUSTIN, TX—NorthMarq has acquired Texas Realty Capital, an Austin-based commercial mortgage banking firm. The office becomes the company’s fourth location in Texas and adds a servicing portfolio of $900 million, bringing NorthMarq’s servicing portfolio to more than $56 billion.
The firm’s principals, Jim Lemos, John Morran and Matt Counts, will join NorthMarq along with the firm’s five additional employees. Texas Realty Capital, founded in 2006 when its principals left GMAC Commercial Mortgage, has placed more than $3 billion in loans on commercial, multifamily and hotel properties, working as a life company correspondent with nearly 30 capital sources.
“Austin is an excellent growth market with opportunity for us, and we knew that the culture Jim, John and Matt have developed with borrowers and lenders would be an ideal fit for NorthMarq,” said Jeffrey Weidell, president of NorthMarq. “As with our previous acquisitions, we are careful to find the right team that will benefit from our growing platform and integrate easily with our business.”