PORTLAND, Ore.--(BUSINESS WIRE)--On the heels of the 85th anniversary of the founding of the firm and in conjunction with the continued implementation of its growth plan, Norris, Beggs & Simpson Companies announces the acquisition of Draper Hergert Shaw, Inc., a 27-year-old mortgage banking firm based in Seattle. As part of the transaction, Alan Hergert and Bruce Shaw will join Norris, Beggs & Simpson Financial Services as Senior Vice Presidents, working out of the existing NBS office located in Seattle at One Union Square.
DHS has developed an outstanding reputation for faithfully representing life insurance company lenders in the State of Washington, and brings to NBS a deep network of borrower relationships and a strongly performing loan servicing portfolio totaling approximately $268 million. Following the addition of the DHS portfolio, NBS Financial Services now manages a loan servicing portfolio of 480 loans totaling $2.56 billion. The Seattle office of NBS is overseen by partner Mike Wood, who was the company’s top producer in 2016, originating first mortgage loans totaling over $220 million out of NBS Financial’s total production of $691 million. Colin Ceithaml also recently joined the Seattle office as a Financial Analyst, and the firm is seeking to add another Financial Analyst or Associate Finance Officer in 2017.
According to Rance Gregory, CEO of Norris, Beggs & Simpson Companies, “The addition of Draper Hergert Shaw is a perfect complement to our growth strategy. Most importantly, it allowed us to add a quality loan production team who shares our values of providing superior service to the lending and borrowing community.”
“We look forward to joining the outstanding team at Norris, Beggs & Simpson. We believe by joining forces we can increase our efficiencies and the scope and scale of the services we provide in our target markets,” explains Alan Hergert of Draper Hergert Shaw, Inc. Bruce Shaw adds, “DHS and NBS share similar cultures and we believe the combination will be powerful in increasing our production in the Pacific Northwest.”
Norris, Beggs & Simpson Companies, founded April 1, 1932, is a diversified commercial real estate services firm consisting of three primary divisions: Norris, Beggs & Simpson Financial Services, Morrison Street Capital, and NBS Real Estate Consulting.
The strategic plan of Norris, Beggs & Simpson Companies includes both organic growth as well as selectively adding top-quality talent throughout its three business lines and within its target markets.
“We are excited about the opportunity to build upon our recent loan production momentum to continue to grow our presence throughout the Puget Sound and greater Washington areas. We look forward to working with Alan and Bruce to provide quality deal flow for our lenders and attractive first mortgage options to commercial real estate borrowers throughout this region,” concludes Mike Wood, Principal of Norris, Beggs & Simpson Financial Services.
About Norris, Beggs & Simpson Financial Services
Through our exclusive correspondent lending relationships, Norris, Beggs & Simpson Financial Services has access to billions of dollars of mortgage capital to satisfy both the borrowing and investment requirements of our clients by providing equity along with debt and first mortgage loans. The nationwide network provided by our broker affiliate program and affiliation with Strategic Alliance Mortgage (SAM) ensures all your capital requirements are met, both in terms of size and breadth. Loan administration, an added value for our clients, creates a smooth transition from loan origination to closing to servicing.