San Francisco-based Gantry, a 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, combined servicing portfolio will exceed $16 billion with $4 billion in annual new loan production, representing over 2,000 loans located in 40 states, Gantry said.
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.
“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.
“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.
“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,” said Mitchell Zeemont, a founding partner of Gantry.