NorthMarq Capital has signed a purchase agreement to acquire 60 percent of AmeriSphere Multifamily Finance, a Fannie Mae DUS and FHA MAP lender from founding partner Rodrigo Lopez and the investment firm McCarthy Capital. NorthMarq Capital previously owned a 40-percent stake in AmeriSphere, but will now operate it as a wholly-owned subsidiary. The acquisition is expected to close in mid-March following pending agency and regulatory approvals. AmeriSphere will be then known as NorthMarq.
NorthMarq will continue to operate as an originator of multifamily loans for Fannie Mae under their DUS program and for FHA, including all underwriting, closing and asset management functions. No employee reductions or changes are anticipated except at the CEO/president level. The acquisition will allow for enhanced integration of operational support with NorthMarq and its platform of 35 production offices across the country.
“Since we already had a strong partnership with AmeriSphere, this opportunity can only strengthen our platform and make our production experts more valuable to borrowers looking for multifamily acquisition financing or refinancing,” said Ed Padilla, CEO-NorthMarq Capital.
Rodrigo will remain with the firm following acquisition as executive chairman. Jay Donaldson, who has been serving as AmeriSphere’s chief operating officer, will become president and Scott Suttle will remain in the role of executive vice president and national production director. Both will report to Padilla.
“NorthMarq’s acquisition is the logical culmination of a very successful decade-long relationship. Because of NorthMarq’s outstanding loan producers and excellent borrower clients, the AmeriSphere team will continue growing the best performing portfolio in our industry,” said Lopez.
NorthMarq will continue operations out of AmeriSphere’s existing regional offices in Washington DC, Dallas, Denver and Omaha. AmeriSphere, which was founded in 2000, originated $800 million of multifamily loans for the Fannie Mae DUS program and $125 million of FHA loans in 2014. With more than 50 employees in Washington DC, Dallas, Denver and Omaha, the company services a portfolio of DUS and FHA loans totaling $5.5 billion.