Nationwide Life Insurance Company recognizes NBS Financial Services' Officers
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Norris, Beggs & Simpson’s Financial Services Group recently received national industry recognition. Vice Presidents, Blake Hering Jr., and Todd B. Harding, were awarded Nationwide’s 2005 “On Your Side” Awards. The prestigious award recognizes Nationwide’s top national correspondents.
The three-year relationship between Nationwide Insurance Company and NBS Financial Services has yielded 16 loans totaling nearly $214.5 million. 2005 alone generated 6 loans for $109 million, with an average loan of $14.8 million. Significant transactions included: Cedar Hills Crossing in Beaverton, Oregon ($35 million); Pioneer Ridge Apartments in Oregon City, Oregon ($13 million); Lodges at Lake Salish in Fairview, Oregon ($13 million) and the Grandridge Place Apartments in Kennewick, Washington ($12.5 million).
In determining recipients for this award, Nationwide considered individuals from all over the nation. Based on the strength of each correspondent’s relationship with Nationwide, four awards were given, two of which went to NBS Financial Services finance officers.
2005 was a record year for NBS Financial Services. The group closed financing for $520 million and serviced a loan portfolio valued at $1.42 billion. The company was ranked by the Daily Journal of Commerce as the number 1 commercial mortgage provider in Oregon in 2005, nearly $200 million ahead of the next competitor. The group also made Commercial Property News’ Top Mortgage Banks listing, which ranks firms nationally.
Shawn Stock of Nationwide Insurance describes how the recipients were chosen: “It’s a somewhat subjective process, but we really look to see how dynamic the relationship is between our correspondents and Nationwide. We have to be responsive to each other and our clients’ needs. Blake and Todd mirror Nationwide’s belief in putting our clients’ needs first and finding ways to help them succeed.”
Blake Hering Jr., with NBS Financial Services, states, “Nationwide has been able to provide our clients with some very competitive and creative loan structures that help distinguish us from our competitors.” Todd B. Harding with NBS Financial Services adds, “Nationwide continues to be very bullish on commercial real estate. Portland/Vancouver will continue to be a high priority market for them to invest in for commercial mortgages.”
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