Northmarq expands into investment management following merger with Morrison Street Capital

MINNEAPOLIS (May 21, 2024) — Leading commercial real estate capital markets firm Northmarq announced today its merger with Morrison Street Capital, a 22-year-old investment management company headquartered in Lake Oswego, Ore. (Portland). Upon deal closing, the registered investment advisor currently known as Morrison Street Capital is renamed Northmarq Fund Management. 

The merger also coincides with the acquisition of NBS Real Estate Consulting, a boutique business affiliated with Morrison Street Capital that provides advisory services to real estate owners and lenders. NBS Real Estate Consulting, also based in Lake Oswego, Ore., will now operate as Northmarq Advisory Services. 

“This merger serves as an important milestone as we continue to expand our national platform,” said Jeffrey Weidell, chief executive officer for Northmarq. “Northmarq’s extensive commercial real estate and capital markets knowledge, supplemented by Morrison Street Capital’s nimble investment strategies, will allow us to deliver a new and best-in-class service to our investors, partners and borrowers. The capital in our new fund will help bridge gaps to allow our clients to close deals in this challenging market.”

The integration of these companies continues the successful Morrison Street Fund series, currently including three closed-end funds and one open-end investment vehicle, which will continue to be led by founder, President and CEO Rance Gregory. The existing Morrison Street Capital team will remain based in Lake Oswego and the company will continue to operate its existing investment strategies, now with the ability to launch new and expanded vehicles that access Northmarq’s network for capital relationships, deal flow, market underwriting and research.

“Aligning Morrison Street Capital and NBS Real Estate Consulting with Northmarq is an ideal match,” said Gregory. “Investors and real estate operators can continue accessing our Funds and advisory services through the same management team they’ve known over the past 20-plus years. Meanwhile, we can better serve our clients through the greatly expanded network and nationwide resources Northmarq has to offer.” 

David Elkins, president of NBS Real Estate Consulting, agrees by adding, “We’re equally excited to join Northmarq and collaborate with colleagues across the country on ways to enhance and expand advisory services for our clients.” 

Founded in 2002, Morrison Street Capital’s history includes in excess 180 investments and $750 million of fund capital invested in over 300 properties with combined transaction value, including mortgage debt, of nearly $5.4 billion. Morrison Street Fund investments are diversified throughout the country and include retail, multifamily, industrial, office, parking and hotels. 

About Morrison Street Capital
Morrison Street Capital, LLC serves as the investment manager of the Morrison Street Funds. The company is a trusted source for small balance equity, mezzanine debt and preferred equity investments. We pride ourselves on our responsive approach and our commitment to integrity, flexibility and ingenuity. Since 2002, the company has targeted inefficiencies in commercial real estate markets by investing in public debt, private equity and private debt on behalf of pension plans, foundations, endowments, family offices and high net worth individuals and families. 

About NBS Real Estate Consulting
NBS Real Estate Consulting provides advice to individual and institutional real estate owners, ranging from expert testimony and receivership assignments, planning, entitlement, financial analysis, leasing and operations oversight, development and project management. Since 2017 NBS Real Estate Consulting has served over 40 clients across the country from offices in Portland and San Antonio.