Northmarq Merges With Morrison Street Capital

In one swift move, Northmarq will be expanding into the investment management and advisory sectors.

Northmarq will merge with investment management company Morrison Street Capital. Upon closing, the Oregon-based firm will be renamed Northmarq Fund Management.

“We recognize that Morrison Street Capital would be the ideal partner for us to grow Northmarq Fund Management,” Northmarq chief financial officer Shawn Power told Commercial Property Executive. “The capital in our new fund will help bridge gaps to allow our clients to close deals in this challenging market.”

As part of the same transaction, Northmarq is acquiring NBS Real Estate Consulting, a boutique business affiliate of Morrison Street Capital. The company will continue to provide real estate advisory services as Northmarq Advisory Services.

“This is an exciting opportunity for our combined companies to expand and enhance the services we offer to our investors and clients,” the Power said.

The Morrison Street Fund series, made up of three closed-end funds and one open-end investment vehicle, will continue to run under the same management post-merger. The Morrison Street Capital team will remain in Lake Oswego, Ore.

The companies involved, up close

Founded in 2002, Morrison Street Capital has $740 million of fund capital invested in more than 300 properties. Morrison Street Fund targets various property types including retail, office, industrial and multifamily.

Commercial real estate capital markets giant Northmarq has a transaction volume of more than $37 billion annually. The company also has a loan servicing portfolio of nearly $77 billion.

Outside of mergers and acquisitions, Northmarq has already had a busy year. It recently arranged a $40 million acquisition loan for a 621,000-square-foot Houston industrial portfolio. And earlier in 2024, Northmarq also arranged the $13 million acquisition loan of an industrial campus in Cleveland.