Northmarq Hires New Miami SVP
- Feb 20, 2019
NorthMarq has hired Michael Balan as its new senior vice president out of its Miami office. Balan will be responsible for assisting local and national clients with the entire capital stack. This includes equity, mezzanine debt, preferred equity and permanent first mortgages. He will create financing solutions for investors and developers with capital providers such as life insurance companies, Freddie Mac, FHA/HUD, banks, debt funds, Fannie Mae, conduits and mortgage REITs.
Balan brings more than 20 years of commercial real estate experience to his new role at NorthMarq. Before joining the firm, he worked in traditional banking, CMBS lending and franchise finance, before transitioning to a regional mortgage banking company. Prior to that, he worked at Republic National Bank in New York City. Over the course of his career, Balan has closed more than $1 billion in commercial real estate loans.
“We continue to look for new people to serve our growing list of clients within the dynamic south Florida market,” Jeff Erxleben, executive vice president & regional managing director at NorthMarq, told Commercial Property Executive. “Michael’s experience in structuring debt and equity transactions, along with his lender relationships, will benefit our existing team in uncovering the right financing package for developers and owners.”
Balan is a member of the International Council of Shopping Centers and is the founding president of a large chapter of Business Networking International. He received his bachelor’s degree in Management from the University of Maryland.
Earlier this month, NorthMarq promoted Jason Smith to managing director in Washington, D.C.
Image courtesy of NorthMarq