NorthMarq acquires Houston-based Kinghorn, Driver, Hough & Co (KDH)
Adds nearly $2 billion of loan servicing, eight debt/equity producers
MINNEAPOLIS (Jan. 6, 2020) -- NorthMarq, a leader in commercial real estate capital markets, announces the acquisition of Kinghorn, Driver, Hough & Co. (KDH), a Houston, Texas-based commercial debt and equity firm deeply rooted in the Houston real estate community. Ray Driver, principal of KDH, will join Tony Gray and John Burke as a managing director of NorthMarq’s Houston office.
The acquisition brings two well-known debt and equity groups together to create one of the largest and most experienced firms in the Houston market. Founded in 1945, KDH is the oldest, independently owned, commercial real estate capital company in the state of Texas. KDH’s principals previously held an ownership position in the Q10 network of privately held commercial real estate capital firms. NorthMarq’s Houston office dates back to 1949; it was acquired by NorthMarq in 1998.
KDH’s eight additional mortgage banking professionals and five financial analysts bring the total employees in the expanded NorthMarq office to nearly 30. In addition to the firm’s mortgage banking professionals, KDH also brings a nearly $2 billion loan servicing portfolio, extending NorthMarq’s servicing portfolio to more than $60 billion.
“NorthMarq’s growth through finding firms with the right cultural fit continues with KDH. We are excited to integrate them into our firm, where they can benefit from our platform, and we can benefit from their experience, along with their strong lender and client relationships,” said Jeffrey Weidell, NorthMarq’s CEO.
“Our personalities and ethics align very well, and most of us have known each other for many years. The value for our clients will be the expanded platform of capital sources, especially NorthMarq’s Fannie Mae and Freddie Mac relationships,” said Driver. “The other significant motive for us is NorthMarq’s expanding investment sales business. That service speeds up deal flow and opportunities for clients.”
Last year, NorthMarq acquired Texas Realty Capital in Austin, which expanded the footprint to four offices in Texas. NorthMarq’s growing investment sales business in Texas is based in Dallas and led by Taylor Snoddy. That team finished 2019 with record transaction volume of nearly $1.3 billion.
According to Burke, “Each of us has institutional capital and regional client relationships that will offer great synergy for our company and for our clients. The overall combination of our larger team of professionals and capital sources will really propel NorthMarq forward in Houston.”
In business since 1960, NorthMarq offers debt, equity, investment sales, and loan servicing and has grown to nearly 600 employees through more than 20 acquisitions. In Texas, the company has offices in Austin, Dallas, Houston, and San Antonio.