"The completed acquisition creates a new NorthMarq organization with nearly 1,000 employees in 40 locations nationwide, which complements the mortgage banking and corporate solutions businesses we operate around the country. This strengthens our platform and positions us to better serve our clients," says Jeff Eaton, president of NorthMarq Real Estate Services.
The Opus Property Services portfolio will give NorthMarq an additional 30 million square feet in all the major commercial real estate property types. The 170 assets are located in 22 markets throughout the US. Additionally all 125 former employees of Opus Property Services have now become NorthMarq employees.
In August, as GlobeSt.com reported, Bloomington, MN-based NorthMarq won the bid for Opus Property Services from a field of eight other companies. Other bidders included CB Richard Ellis, Transwestern and Colliers Turley Martin Tucker.
The disposition of the property services group is part of the restructuring plans of Opus Corp. after several of its branches filed for bankruptcy this year. In July Opus Corp. announced two of its branches were filing for bankruptcy after weeks of speculation. Opus East filed for Chapter 7, while Opus West filed Chapter 11. This announcement came less than three months after Opus South filed Chapter 11.
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