Minneapolis-based commercial real estate firm United Properties plans to reorganize its business: The company's real estate services divisions, including brokerage, property management, construction and corporate solutions, will now be reorganized under the NorthMarq name. United Properties will focus on its development and investment businesses, the company adds. The reorganization is expected to be complete by May 1.
NorthMarq currently operates NorthMarq Capital, one of the country's largest commercial real estate mortgage banking firms with offices in 29 markets. The new NorthMarq organization will provide clients with broad real estate services, in addition to the debt and equity services currently offered by NorthMarq Capital.
Jeff Eaton will become president of the newly formed NorthMarq Real Estate Services, while Kevin Farrell will continue as executive managing director of NorthMarq Corporate Solutions. Frank Dutke will become president of the United Properties Investment and Development businesses.
Ed Padilla will continue as CEO of NorthMarq Capital and will lead the national expansion of NorthMarq Investment Sales.