Northmarq, a national capital markets advisory firm, is pushing into the investment management sector and merging with Morrison Street Capital, which will soon be dubbed Northmarq Fund Management.

With the merger, Northmarq also acquired NBS Real Estate Consulting, an affiliate of Morrison Street Capital founded in 2017. Now named Northmarq Advisory Services, this new arm will continue to advise lenders and real estate owners.

Morrison Street will launch bigger vehicles with access to Northmarq's network of capital relationships and nationwide resources like market underwriting and research, according to a press release.

Based in Oregon, Morrison Street was founded in 2002 and has $750M of fund capital invested across 300 properties. It invests across asset classes, including retail, multifamily, industrial and hospitality. Its combined transaction value, debt included, comes out to almost $5.4B.

The company has three closed-end funds and one open-end investment vehicle, which will continue to be led by Morrison Street CEO Rance Gregory.

“The capital in our new fund will help bridge gaps to allow our clients to close deals in this challenging market,” Northmarq CEO Jeffrey Weidell said.

Northmarq, which is owned by the Pohlad family, has made 10 other corporate acquisitions since 1999.

In 2022, it bought capital markets advisory firm Stan Johnson Co. The transaction gave Northmarq entrance into new specialties, such as net-leased investment, multitenant retail, office, industrial, healthcare and self-storage sales. The transaction included Four Pillars Capital Markets, the firm's debt-services subsidiary.

At the time of the merger, Stan Johnson had completed over $45B in transactions since being founded in 1985. It focused on single-tenant, net-leased assets and still does under Northmarq.