Investment Sales Analyst - Multifamily Real Estate

Northmarq expands investment platform with acquisition of Thirdline Capital Management. Acquisition adds publicly registered fund to complement Northmarq's existing private fund management business. September 21, 2026 11:30 ET | Source: Northmarq MINNEAPOLIS, Sept. 21, 2026 (GLOBE NEWSWIRE) - Northmarq today announced the acquisition of Thirdline Capital Management, LLC, a registered investment advisor that manages the Thirdline Real Estate Income Fund (TREIX), a registered closed-end fund. Northmarq Fund Management (NFM), founded in 2002, invests and manages debt and equity capital nationwide, and specializes in small-balance and mid-market commercial real estate investments. Adding Thirdline broadens Northmarq's presence in income-oriented investments and provides a registered fund available to a variety of institutional and individual investors, and accessible for wealth managers and their clients through national custodial platforms. "This acquisition builds on Northmarq's established investment management business and represents an important step in our continued growth," said Rance Gregory, president and CEO of Northmarq Fund Management. "By adding the Thirdline team and TREIX to our platform, we are broadening the ways we connect investors with commercial real estate opportunities, while enhancing the breadth of our capital market solutions, and expanding our capacity in the income-oriented investing space." Adds Charles Hutchens, Managing Director of Thirdline Capital and Portfolio Manager of TREIX: "We are excited to join Northmarq Fund Management. We are impressed by Northmarq's national platform and believe it can benefit TREIX shareholders by growing our capabilities in sourcing, underwriting, and asset management of quality commercial real estate investments." The transaction represents a significant milestone in Northmarq's continued evolution as a diversified capital markets firm and investment manager. By combining Northmarq's existing private fund management business with TREIX's publicly registered fund platform, the acquisition broadens the firm's ability to efficiently connect investors with commercial real estate opportunities across the capital stack. The addition of TREIX allows Northmarq Fund Management to expand its capabilities and market presence in income-oriented investments, especially including mezzanine loans, B-notes, and real estate securities. For TREIX, the move seeks to grow and further diversify the TREIX portfolio across geography, product types, and investment types, with a focus on maximizing dividend growth and stability[1]. About Northmarq Fund Management Northmarq Fund Management (NFM) is the real estate investment and asset management division of Northmarq, raising and managing capital for debt and equity investments across the United States. Founded in 2002 as Morrison Street Capital and renamed after being acquired by Northmarq in 2024, NFM specializes in small-balance and mid-market commercial real estate investments across the capital stack, leveraging a 23-year track record and Northmarq's national capital markets platform to deliver institutional-quality investment opportunities across all property types. About Northmarq Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $80 billion and has completed $91.3 billion in transactions over the past four years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com. About Thirdline Capital Management, LLC Thirdline Capital Management, LLC, founded in 2021, was an SEC-registered investment advisor managing alternative solutions designed to assist advisors in achieving client objectives. Based in Richmond, VA, the firm served as the investment advisor to the Thirdline Real Estate Income Fund (TREIX), a non-diversified, registered closed-end fund optimized to generate stable cash flow and preserve capital value. To learn more about TREIX, visit www.Thirdlinefunds.com. IMPORTANT RISK DISCLOSURES: THIRDLINE REAL ESTATE INCOME FUND (TREIX) Investors should carefully consider the Fund's investment objectives, risks, charges, and expenses before investing. The Fund's prospectus contains this and other information and is available at www.thirdlinefunds.com. Please read the prospectus carefully before investing. An investment in the Fund involves a high degree of risk, including the possible loss of the principal amount invested. The Fund may not be suitable for all investors, and there is no guarantee that it will achieve its investment objective. Real estate investments involve special risks, including tenant default, environmental problems, adverse changes in local economies, and declines in real estate market prices. If mortgage loans held by the Fund default, the Fund may be unable to repossess and sell the underlying properties in a timely manner, which could reduce the value of those investments. The Fund is "non-diversified" under the Investment Company Act of 1940. As a result, a change in the value of a single holding may cause greater fluctuation in the Fund's net asset value than it would in a diversified fund. The Fund may borrow up to one-third of its gross asset value. Borrowing can increase losses as well as gains. Underlying property owners and private funds may use more leverage than the Fund is permitted to use. The Fund's effective leverage could therefore be far greater than the limit imposed by the Investment Company Act of 1940. The Fund's direct real estate and private fund investments are priced using estimates of fair value. These estimates may prove inaccurate and will likely differ from the amounts the Fund would receive on sale or withdrawal. Because the Fund's holdings have limited liquidity, the Fund may not be able to adjust its portfolio quickly enough to respond to material changes, which could result in substantial losses. The Fund is a closed-end interval fund. Its shares are not listed on any securities exchange, and a secondary market for them is not expected to develop. The Fund offers each quarter to repurchase at least 5% of its outstanding shares. However, there is no guarantee that shareholders will be able to sell all the shares they tender. Fund shares are considered illiquid, and an investment is not suitable for investors who need liquidity beyond the quarterly repurchase program. Thirdline Real Estate Income Fund is distributed by Distribution Services, LLC, Three Canal Plaza, Suite 100, Portland, ME 04101. Distribution Services, LLC and Northmarq Fund Management are not affiliated. [1] Due primarily to its focus on commercial real estate, TREIX is classified as a non-diversified registered closed-end fund

Northmarq adds leading Houston retail investment sales team to National Shopping Center Group. Industry veterans Matt Berry, Robbie Kilcrease and Drew Reinking expand the firm's reach across Texas. HOUSTON (Aug. 31, 2026) - Northmarq has added a Houston-based retail investment sales team consisting of longtime partners Matt Berry, Robbie Kilcrease, and Drew Reinking. Formerly directors of CBRE's Texas Retail Investment Sales group, Berry, Kilcrease and Reinking join Northmarq as managing directors and members of the National Shopping Center Group, strengthening the firm's coast-to-coast retail offering and expanding its capabilities across Texas. "Matt, Robbie and Drew have built one of the most respected retail investment sales teams in Texas," said Jeff Cox, executive managing director of Commercial Investment Sales at Northmarq. "Their addition significantly strengthens our national retail investment sales platform and expands our ability to serve clients across Texas and key retail markets nationwide. Just as importantly, their collaborative approach and client-first mindset align closely with the culture that differentiates Northmarq." The team is widely recognized as one of the most active retail investment sales groups in Texas. Collectively, they have completed more than 1,300 retail transactions totaling over $9 billion in volume. Their full-service approach has earned a reputation for delivering strategic guidance and superior execution across a wide range of retail assets. "This is an exciting new chapter for our team," said Berry. "We've spent years building our business around relationships, collaboration and delivering results for our clients. Northmarq's entrepreneurial culture, collaborative approach and national retail platform create a tremendous opportunity for our team and our clients. We're excited to contribute to the firm's continued growth while expanding the resources, relationships and reach available to investors across Texas and beyond." Matt Berry Berry specializes in retail investment sales and capital markets solutions for institutional and private capital clients across Texas. Alongside partners Kilcrease and Reinking, he advises investors on the acquisition, disposition and financing of retail investment properties, delivering strategic guidance throughout the investment lifecycle. Prior to joining Northmarq, Berry served as a senior vice president at CBRE and previously spent more than five years at HFF (now JLL). During his career, he has been involved in more than 500 retail investment sales transactions totaling more than $4 billion in volume and has advised a broad range of institutional investors, developers, corporations and private owners. Berry earned a Bachelor of Business Administration from Stephen F. Austin State University and was ranked among the Houston Business Journal's Top 5 Heavy Hitters in 2025. Robbie Kilcrease Kilcrease specializes in the acquisition and disposition of institutional and entrepreneurial owned retail assets across Texas. Alongside partners Berry and Reinking, he advises property owners and investors on the purchase and sale of single-tenant and multi-tenant retail assets. Prior to joining Northmarq, he served as a senior vice president at CBRE and began his commercial real estate career as an analyst at HFF (now JLL). Throughout his career, Kilcrease has been directly involved in more than 500 retail transactions totaling more than $3 billion in sales volume and has consistently ranked among the industry's top producers in retail investment sales. He is a graduate of Texas Tech University and previously spent four years as a professional baseball player in the Pittsburgh Pirates organization. Drew Reinking Reinking specializes in the acquisition and disposition of multi-tenant retail properties throughout Texas. Working alongside partners Berry and Kilcrease, he advises investors and property owners on retail investment opportunities, leveraging his market expertise and financial background to help clients maximize value. Prior to joining Northmarq, Reinking spent eight years as a senior vice president at CBRE, where he focused on multi-tenant retail investment sales. Earlier in his career, he was a partner at a boutique wealth management firm, advising clients on complex tax and estate planning strategies. Throughout his career, Reinking has been involved in more than 300 retail transactions totaling more than $2 billion in sales volume. He earned a Bachelor of Business Administration from St. Edward's University and played collegiate basketball at both the University of North Texas and St. Edward's University. About Northmarq Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $80 billion and has completed $91.3 billion in transactions over the past four years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide.

IPA Capital Markets expands Eastern region Capital Markets team. IPA Capital Markets strengthens Eastern region with strategic leadership appointment in Boston. IPA Capital Markets, the institutional capital markets division of Marcus & Millichap (NYSE: MMI), has announced the appointment of Ryan Demadis as Managing Director in its Boston office, reinforcing the firm's commitment to expanding its capital markets platform across the Eastern United States. The addition of Demadis reflects the company's ongoing strategy to enhance its financing capabilities and provide sophisticated capital solutions for private and institutional real estate investors in an increasingly competitive market. In his new position, Demadis will report directly to Marc Sznajderman, Senior Managing Director and Head of Production for IPA Capital Markets' Eastern region. Based in Boston, he will work closely with clients, lenders, investors, and development partners to structure and secure financing for a broad range of commercial real estate projects, while helping expand the firm's presence throughout the Northeast. The appointment comes as commercial real estate markets continue to evolve, with investors seeking experienced advisors capable of navigating changing lending conditions, rising capital costs, and increasingly complex financing structures. IPA Capital Markets believes that strengthening its leadership team with seasoned professionals such as Demadis will enhance its ability to deliver customized financing strategies across multiple property sectors. Throughout his career, Demadis has established a reputation for arranging sophisticated financing solutions across a diverse range of commercial real estate asset classes. While his experience spans numerous sectors, his primary expertise lies in industrial and multifamily properties throughout the Northeastern United States - two sectors that have continued to attract strong investor interest despite broader market volatility. His professional experience includes financing both stabilized assets and development projects, with a particular emphasis on ground-up construction financing and structured capital transactions. These projects often require customized financing strategies involving multiple capital sources and careful coordination among lenders, equity partners, and developers. Over the course of his career, Demadis has successfully closed more than $1 billion in debt and equity financing transactions. His experience covers a wide spectrum of financing structures, ranging from conventional mortgage loans to construction financing, bridge loans, joint venture equity, and institutional capital placements. He has built long-standing relationships with many of the industry's leading capital providers, including life insurance companies, agency lenders such as Fannie Mae and Freddie Mac, regional and national banks, private debt funds, and institutional equity investors. These relationships enable him to identify competitive financing solutions tailored to each client's investment objectives and project requirements. According to Marc Sznajderman, the addition of Demadis represents an important milestone in the continued expansion of IPA Capital Markets' production platform across the Eastern region. Sznajderman noted that Demadis brings a combination of technical expertise, extensive lender relationships, and proven execution capabilities that align well with the firm's long-term growth strategy. His experience advising clients across industrial, multifamily, and other commercial property sectors further strengthens the company's ability to serve institutional investors, developers, and private owners seeking sophisticated capital solutions. He also emphasized that Demadis' expertise in construction lending and structured finance will complement the firm's existing capabilities while supporting continued expansion throughout the Northeast, one of the country's most active commercial real estate investment markets. The Boston office plays a strategically important role within IPA Capital Markets' national platform, serving clients across New England and the broader Eastern United States. The region continues to generate significant investment activity across industrial facilities, multifamily housing, mixed-use developments, life science properties, logistics assets, and redevelopment opportunities. As institutional investors increasingly pursue opportunities in these sectors, demand has grown for advisors capable of structuring efficient financing packages that balance risk, cost, and long-term investment performance. IPA Capital Markets continues to invest in experienced professionals who possess both local market knowledge and national capital relationships, allowing the firm to connect clients with a broad network of financing sources while delivering customized advisory services. Before joining IPA Capital Markets, Demadis spent more than ten years at Northmarq, where he served as Senior Vice President. During his tenure, he advised developers, investors, and property owners on financing strategies for acquisitions, developments, recapitalizations, and refinancing transactions across multiple commercial real estate sectors. His work at Northmarq included arranging capital for projects of varying complexity, from stabilized investment properties to large-scale development initiatives requiring structured debt and equity solutions. The experience provided him with extensive knowledge of capital markets, underwriting standards, and lender requirements across different economic cycles. Earlier in his career, Demadis worked with RM Bradley in Hartford, Connecticut, where he was a member of the firm's office leasing and investment sales team. In that role, he represented both landlords and tenants while also participating in commercial investment transactions. This early exposure to leasing, brokerage, and investment sales provided valuable insight into the operational and investment aspects of commercial real estate, helping shape the well-rounded advisory approach he brings to financing assignments today. Demadis earned a Bachelor of Science degree in Real Estate and Urban Economics with a concentration in Finance from the University of Connecticut School of Business. His academic background combines financial analysis with commercial real estate fundamentals, providing a strong foundation for his work in capital markets advisory. In addition to his professional responsibilities, Demadis remains actively involved in several respected real estate industry organizations. He is a member of NAIOP, the Commercial Real Estate Development Association, where he participates in networking and industry initiatives focused on commercial development and investment. He is also involved with REFA, the Real Estate Finance Association, an organization dedicated to advancing the commercial real estate finance industry through education and professional collaboration. Beyond his industry involvement, Demadis is committed to community service. He serves as Vice President of the Board of The RiseUP Group, a Connecticut-based nonprofit organization focused on youth development, mentoring, education, and public art initiatives. Through this leadership role, he supports programs designed to create opportunities for young people while strengthening local communities through creative engagement and mentorship. The appointment of Ryan Demadis reflects IPA Capital Markets' continued investment in experienced professionals who can provide comprehensive capital advisory services across evolving commercial real estate markets. By expanding its leadership team in Boston, the firm is positioning itself to better serve clients seeking innovative financing solutions for industrial, multifamily, and other commercial property investments while strengthening its growing presence throughout the Eastern United States.