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TUCSON-First Magnus Financial Corp., the second-largest privately held mortgage banker in the US, has selected Mohr Partners Inc. to handle strategic advisory services and brokerage activity for a 90-office portfolio. The assignment, totaling about 266,000 sf, marks the first time that the firm has outsourced real estate activity to a third-party player.

Charles Daggett, managing director in Phoenix for the Dallas-based Mohr, says there was competition for the contract. “We’re providing strategic advisory services for their portfolio, including administration, site selection and brokerage services,” says Daggett, who with partner Dina Boscardin, secured the arrangement with First Magnus.

Daggett says First Magnus’ entire portfolio is leased space. He tells GlobeSt.com that First Magnus is in a growth mode and wanted to focus its efforts on its core business rather than real estate management, driving the decision to outsource the real estate activity. “There will be a lot of new offices and new growth across their portfolio throughout the US,” he says. “We’ll help them manage that growth.”

First Magnus operates its lending services through broker partners and affiliate branching, with plans to expand through the same method. Daggett says there is no set goal as to how much office space will be leased, adding First Magnus will open in markets and acquire space and partners on an as-needed basis.

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