Minneapolis-based 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 30 to 60 days pending agency and regulatory approvals. AmeriSphere will be then known as NorthMarq. Terms of the acquisition will not be disclosed.
NorthMarq will continue to operate as an originator of multi-family loans for Fannie Mae under its DUS program and for FHA, including all underwriting, closing and asset management functions. No employee reductions or changes are anticipated except at the chief executive officer/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 multi-family acquisition financing or refinancing,” said Eduardo “Ed” Padilla, chief executive officer of NorthMarq Capital, in a written statement.
Lopez 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. Scott Suttle will remain in the role of executive vice president and national production director. Both will report to Padilla.
