Northmarq Expands South Florida Reach With West Palm Beach Office


Northmarq is expanding its commercial real estate finance presence in South Florida with a new office focused on its debt and equity business in West Palm Beach.

The CRE investment firm has hired David Gahagan, a former senior director at Walker & Dunlop, to open the new office, which adds to Northmarq’s other South Florida offices in Miami and Fort Lauderdale. Commercial Mortgage Alert first reported the hiring. 

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“We are especially pleased to have David join the Northmarq platform as our clients will substantially benefit from his knowledge, relationships and reputation with capital sources as we expand our coverage in Florida,” Jeff Erxleben, president of debt and equity at Northmarq, said in a statement regarding Gahagan.

Gahagan spent nine years at Walker & Dunlop from 2012 to 2021 before serving as senior vice president with Grandbridge Real Estate Capital in the firm’s South Florida office. He also previously originated debt transactions at Legg Mason Real Estate Services.

Minneapolis-based Northmarq has been in expansion mode with the South Florida market of late, opening its Miami office led by Jaspaul Kapoor in 2018. It also opened a Fort Lauderale office last December run by Bob Harrington

“The Northmarq platform offers a wide array of financial services to the commercial real estate industry including agency, debt, equity and sales which further enhances my ability to meet and exceed customer goals and objectives in this rapidly evolving economic environment,” Gahagan said in a statement. 

A Furman University alumnus, Gahagan also holds a master’s degree in business administration with a finance concentration from the University of South Florida. He is active with CRE organizations the Mortgage Bankers Association, Innovating Commerce Serving Communities (formerly International Council of Shopping Centers), National Multifamily Housing Council and National Association of Industrial and Office Properties.

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