C ommercial R eal E state A cross A merica
M id A tlantic Real Estate Journal — June 2024 — 21A
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Renamed Northmarq Fund Management Northmarq announces merger with Morrison Street Capital M INNEAPOLIS, MN — Leading commercial real es-
DIGroup Architecture makes NYC Debut with completion of new pre-K-5 school
that provides advisory services to real estate owners and lend- ers. NBS Real Estate Consult- ing, also based in Lake Oswego, OR., will now operate as North- marq Advisory Services . “This merger serves as an important milestone as we continue to expand our na- tional platform,” said Jeffrey Weidell , chief executive of- ficer for Northmarq. “North - marq’s extensive commercial real estate and capital mar- kets knowledge, supplemented by Morrison Street Capital’s nimble investment strategies, will allow us to deliver a new and best-in-class service to our investors, partners and bor- rowers. The capital in our new fund will help bridge gaps to allow our clients to close deals in this challenging market.” The integration of these com- panies continues the successful
Morrison Street Fund series, currently including three closed- end funds and one open-end investment vehicle, which will continue to be led by founder, president and CEO Rance Gregory . The existing Mor- rison Street Capital team will remain based in Lake Oswego and the company will continue to operate its existing invest- ment strategies, now with the ability to launch new and ex- panded vehicles that access Northmarq’s network for capital relationships, deal flow, market underwriting and research. David Elkins , president of NBS Real Estate Consult- ing, agrees by adding, “We’re equally excited to join North- marq and collaborate with colleagues across the coun- try on ways to enhance and expand advisory services for our clients.” MAREJ
tate capital markets firm Northmarq announced its merger with Morri- son Street Capital , a 22-year-old investment
Jeffrey Weidell
Albee Square Campus Gymatorium (courtesy: DIGroup Architecture)
WASHINGTON, DC — Carr Properties (Carr) has announced the launch of Carr+ Events - a private events plat- form aimed at maximizing the utilization of its trophy office spaces while delivering top- tier, customizable event space to the market. Catering to both existing tenants and external customers, the multifaceted platform leverages best-in- class amenities and spaces across Carr’s select class A office buildings, providing ver - satile private event spaces for all occasions including board meetings, elevated dinners, company offsites, cocktail re- ceptions, conferences and more. "The launch of Carr+ Events is an example of our ability to innovate and meet the evolving needs of our existing customers and the broader community who is seeking better alterna- tives for high-quality event space," said Oliver Carr , CEO of Carr Properties. “By opening up our best-in-class properties through this platform, we are offering bespoke venues that seamlessly blend luxury, hospi- tality, and functionality. Carr+ Events will offer our guests a management company head- quartered in Lake Oswego, OR. (Portland). Upon deal closing, the registered in- vestment advisor currently known as Morrison Street Capital is renamed North- marq Fund Management . The merger also coincides with the acquisition of NBS Real Estate Consulting , a boutique business affiliated with Morrison Street Capital
commitment of NYC SCA to remain nimble in accommo- dating student needs.” A leading urban-school de- signer, DIG originated as a consortium of several small architectural firms known as NJK-12, which came together to collaborate and compete for large projects issued by the New Jersey Schools De- velopment Authority for the purpose of revitalizing the state’s most-underserved public school districts. Due to the alliance’s success at deliv- ering the state’s most-signif- icant, community-centered school-design projects, the founding principals at four of the firms merged in 2006 to create DIGroup Architecture. Located at One Willoughby Square, The Albee Square Campus is situated on the first six floors of a new 34-story mixed-use building branded as 1WSQ. The 540-foot-high office tower is the first new building of its kind to take shape in Downtown Brooklyn since 2004. The Albee Square Campus occupies 80,000 s/f and in- cludes a gymatorium, kitch- en and cafeteria, assembly space, grade-specific floors with 14 total classrooms and two special education classrooms as well as a dedi- cated entry on the ground level. The campus is the first project DIG has completed in partnership with NYC SCA. In addition, the firm designed a 3K Center in Brooklyn and has two other assignments nearing design completion, Q340 Queens and X515 Van Cortland Park in the Bronx. MAREJ
NEW BRUNSWICK, NJ/ BROOKLYN, NY — Widely acknowledged for its educa- tion-focused projects across all levels of academia, DIGroup Architecture (DIG) has completed its first New York City School project – P.S. 748, The Albee Square Campus in Brooklyn. The new school is part of the city’s commitment to add 45,000 seats across the city as scheduled in the New York City School Construc- tion Authority’s (NYC SCA) 2020-24 Capital Plan. Working in collaboration with NYC SCA, DIG was tapped to design the fit-out of a new primary school within a new, mixed-use high-rise development. Come this Sep- tember, the building will serve as a new PreK-through-5th grade school. While the elementary school was receiving its finishing touches, the space temporar- ily served as Design Works High School for the 2023-2024 school year. The high school’s first class of ninth graders brought their energy and ex- citement to the Albee Square Campus while they focused on exploring the power of design- thinking and its relationship to social justice. “This project is a true re- flection of the work we are committed to at DIG, and we are privileged to be a part of SCA’s investment in New York City Schools,” said Jeff Venezia , chief executive of- ficer of DIG. “The temporary use of the Albee Square Cam- pus by Design Works High School also demonstrated the flexibility of the space as well as the adaptability and
New events initiative creates access to luxury event spaces Carr Properties launches Carr+ Events
The Wilson penthouse
tremendous experience." Participating buildings in the Carr+ Events platform include five top-tier properties within Carr’s DMV portfolio: The Wilson, Signal House, 1700 New York, Midtown Center and 2311 Wilson. Additionally, Carr’s newest development, One Congress, a trophy office tower in Boston will also offer a robust selection of event space. Renowned for architectural excellence, state-of-the-art facilities and stunning views, this distinct portfolio of build- ings provides exciting new op- tions for event spaces in what previously would have been
inaccessible to the general pub- lic. The spaces include award- winning penthouses, rooftops, courtyards, demonstration and catering kitchens and conference rooms, serving anywhere from 10 to 700 people, depending on the venue. Event reservations have an associated rental fee that varies based on the property and ame- nity space, market, day of week, and time of year. The rental fee will be all-inclusive of the room fee and associated operational services including janitorial services, security, Carr engi- neering support, HVAC, and a parking attendant. MAREJ
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