Minneapolis-based Northmarq said Wednesday it will acquire Stan Johnson Co., a real estate investment brokerage based in Oklahoma with offices in 10 states.
The acquisition will expand the investment brokerage services of Northmarq, owned by Minnesota’s Pohlad family, by adding Stan Johnson’s 100-plus brokerage workers to its team. Northmarq specializes in connecting commercial real estate investors with advisers on debt, equity, investment sales and loan servicing.
Terms of the deal were not disclosed.
Stan Johnson is a full-service, real estate investment sales company based in Tulsa. It focuses on real estate investment sales, including net lease, multi-tenant and single-tenant retail, office, industrial, self-storage and health care sales. Its investment brokerage team has locations in Oklahoma, Arizona, California, Colorado, Georgia, Illinois, New York, Ohio, Oregon and Texas, according to the release.
Founded in 1985, Stan Johnson has closed nearly 7,500 transactions that total more than $45 billion in sales volume.
Northmarq CEO Jeffrey Weidell said the acquisition is an important milestone for the growing company.
“Our company now has investment sales professionals across the country that can service investors across all major asset classes,” Weidell said in the announcement. “Adding this talented group of real estate professionals further establishes Northmarq as a full-service investment sales and capital markets platform.”
After the deal, Northmarq will go from employing around 700 people to almost 1,000 people in investment sales, debt and equity financing, loan servicing and fund management roles, the release said.
The Pohlad family bought Northmarq in 1999. The Pohlads also own the Minnesota Twins, United Properties, the auto dealership Carousel Online, River Road Entertainment and other entities.
After being acquired by the Pohlads, Northmarq has since added 25 offices and 200 employees and has pursued additional acquisitions. Having added investments sales to its lineup in 2018, Northmarq now plans to expand this offering in markets where it already offers debt, equity and loan services, the release said.
“Our professionals will be able to offer our clients greater investment opportunities, advice and product offerings by leveraging the size, scale and established expertise of the Northmarq brand,” Stan Johnson, founder and CEO of Stan Johnson, said in the release.
The acquisition include an affiliated debt services company, Addison, Texas-based Four Pillars Capital Markets.
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