SoCal Industry Roundup: NorthMarq Continues LA Expansion

Also, C.W. Driver Companies and CBRE promoted their vice president roles from within.

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Real estate groups and development firms have been growing their presence in Southern California, and adding more talent to take advantage of the region’s expanding markets. 

SEE ALSO: Column: What Does New York Have Against Real Estate?

NorthMarq, a privately owned finance and investment firm based in Minneapolis, continued its expansion in Los Angeles this week after adding two investment sales brokers and one mortgage banking professional. Bryan Schellinger will be the managing director of investment sales, and Steven Goldstein will be associate vice president. Both worked most recently with Marcus & Millichap, and over the past 24 months, the duo collaborated on more than $200 million in sales volume throughout L.A.

Ory Schwartz, managing director of debt and equity in NorthMarq’s new office, also hired Zalmi Klyne, who previously worked with Continental Partners, and arranged more than $500 million in debt financing in the last three years. The additions came after the firm opened an office at 8750 Wilshire Boulevard in Beverly Hills in December. It’s the firm’s second L.A.-area office after opening in Newport Beach almost 20 years ago. In November, NorthMarq also announced that Jeffrey Weidell took over as CEO.

Pasadena-based general contracting firm C.W. Driver Companies announced that Jennifer Vasquez has been appointed to be its new vice president of business development and corporate communications. Vasquez has been with the 100-year-old firm for 15 years. She will work with Karl Kreutziger, president of C.W. Driver, to develop annual business and marketing plans and oversee corporate strategies. She will also serve as the primary strategic advisor to the firm’s executive leaders.

Valerie Thornburg has also been promoted to be the director of marketing at C.W., where she will be responsible for strategic and tactical communications.

Meanwhile, Shaun Moothart has been promoted to the role of senior vice president at CBRE’s capital markets’ debt and structure finance team in Newport Beach. Moothart collaborates with major real estate funds, such as life insurance companies, pension funds, and private equity investors. His experience includes securing and structuring debt and equity financing for institutional clients with office, industrial, retail and multifamily properties. 

Moothart has been with CBRE for seven years, and has been part of transactions valued in excess of $3 billion over 15 years in commercial real estate. His team closed 71 debt and equity transactions for institutional and office investors over 2019, according to the brokerage.