Gantry Acquiring Norris, Beggs & Simpson’s Mortgage Banking Production and Servicing Platform in Portland, OR and Seattle, WA
Gantry Welcomes Norris, Beggs & Simpson’s (NBS) Commercial Real Estate Mortgage Banking Team; Re-Flags NBS’ Portland Mortgage Banking Office and Expands Gantry’s Seattle Office; Combined Servicing Portfolio to Exceed $16 Billion with $4 Billion in Annual New Loan Production; Expands Unrivaled National Roster of Commercial Property Mortgage Lenders.
PORTLAND, OR – Gantry, the nation’s largest independently-owned commercial mortgage banking company is acquiring Norris, Beggs & Simpson’s commercial real estate mortgage banking group, which includes production and servicing offices in Portland, OR and Seattle, WA. With this acquisition, Gantry enters the Portland market, and expands its existing operations in Seattle. Gantry also has offices in San Francisco, Los Angeles, Orange County, Phoenix, Las Vegas, Spokane and Buffalo, NY. The combined production for 2019 would have exceeded $4 billion in loan volume.
“Gantry found an opportunity to expand and enhance our west coast platform by adding seasoned, like-minded talent that shares our commitment to superior customer service,” said Jeff Wilcox, Principal with Gantry. “Our history and great relationship with the Norris, Beggs & Simpson team through the years make this strategic move a natural for all involved.”
Norris, Beggs & Simpson’s producers Blake Hering and Paddy Ryan in Portland, and Michael Wood in Seattle, will be joining Gantry as new partners. NBS Financial Services is one of three subsidiaries of Norris, Beggs & Simpson Companies, founded in 1932 in Portland, OR. The transaction does not involve the other subsidiaries, and Norris, Beggs & Simpson shall continue to independently own and operate its NBS Real Estate Consulting and Morrison Street Capital platforms.
“We are pleased to join a proven team of producers and servicers with a successful platform that will enhance our ability to serve our client relationships in the Pacific Northwest” said Hering on behalf of the Portland office. Adds Wood in Seattle, “We have known the Gantry Principals for decades and have had the opportunity to work side-by-side with them on all aspects of commercial mortgage finance. During those years, our team has always enjoyed a collaborative professional relationship with Gantry and its leaders. This familiarity and history mean our clients can expect a seamless transition into Gantry with no interruption to service or loan closings particularly with our mortgage banking staff joining Gantry.”
Mitchell Zeemont, a founding partner of Gantry, stated that “Norris, Beggs & Simpson has been one of the pioneers in our industry, and we have long admired their professionalism. We have always had a special affinity with their people, and indeed, a number of us at Gantry actually began our own mortgage banking careers with Norris, Beggs & Simpson in their prior San Francisco office. Now we’ve come full circle and we are thrilled about this opportunity.”
Gantry, a privately held company based in San Francisco, is a full-service commercial mortgage banking firm. Established in 1991 as Newmark Realty Capital, Gantry is staffed by 90 employees in its regional offices. Gantry is the correspondent/servicer on behalf of a roster of the leading life insurance, CMBS and Agency lenders in the nation, placing over $4 billion per year in loans. With this acquisition, Gantry’s national servicing platform expands to over $16 billion, representing over 2,000 loans located in 40 states. Gantry is rated as a Primary Servicer by Standard & Poor’s and is one of a select few non-banking/non-insurance-chartered companies with this designation.
About Norris, Beggs & Simpson
Norris, Beggs & Simpson was founded in 1932 in Portland, OR. Norris, Beggs & Simpson Companies, LLC is a holding company that includes subsidiaries Morrison Street Capital, LLC and NBS Real Estate Consulting, LLC. Morrison Street Capital places investment capital nationwide on behalf of the Morrison Street series of private equity funds. NBS Real Estate Consulting provides real estate consulting services including advice, financial analysis, feasibility studies, planning and strategic guidance for complex projects.