Northmarq, a Minneapolis-based provider of commercial real estate debt and equity, announced its agreement to acquire the real estate brokerage firm Stan Johnson Company, that focuses on investment sales across retail, industrial, healthcare and other asset classes. According to a press release, the acquisition includes Four Pillars Capital Markets, an affiliate debt services company.
The deal is expected to close in October as its regulatory approval is pending.
“This is an important milestone for our growing platform, as our company now has investment sales professionals across the country that can service investors across all major asset classes,” said Jeffrey Weidell, chief executive officer of Northmarq. “Adding this talented group of real estate professionals further establishes Northmarq as a full-service investment sales and capital markets platform.”
The release says the acquisition will bring Northmarq’s professional count to 1,000 across its investment sales, financing, loan servicing, and fund management verticals. The company, with 22 investment sales offices across 13 states, has an annual transaction volume of $33 billion.
“The addition of the Stan Johnson Company team will provide Northmarq the opportunity to offer our clients enhanced services related to retail, industrial, office and corporate solutions,” said Trevor Koskovich, president of investment sales at Northmarq, in the release.
Stan Johson Co., on the other hand, has closed about 7,500 transactions with $45 billion in sales volume since being founded in 1985, as per the release. It expanded from the Midwest and now has 100 brokerage professionals across 16 offices in 10 states, including Arizona, California and New York, among others.
“Our professionals will be able to offer our clients greater investment opportunities, advice and product offerings by leveraging the size, scale and established expertise of the Northmarq brand,” said Stan Johnson, founder and chief executive officer of Stan Johnson Company, in the statement.
This integration with Stan Johnson Co. marks Northmarq’s entry into the investment sales industry which began in 2018 with a focus on multifamily properties.
“The next step is to move into other product types, and the Stan Johnson Company is a very desirable fit with their [triple-net lease] and retail strength, and industrial and office sales expertise,” Weidell told Commercial Observer.
Moses Siller, managing director of Northmarq’s San Antonio investment sales office yesterday also brokered the sale of Island Villas, a multifamily property with 336 units in Corpus Christi, Texas.
In other recent proptech news, April Housing, a real estate portfolio company launched by Blackstone, appointed Perica Bell as its head of preservation. Cypress Equity Investments (CEI), a multifamily developer and real estate investment company, is establishing its presence in Florida with new offices in St. Petersburg and Ft. Lauderdale, its CEO announced.