NorthStar Equity Services
NorthStar Equity Services, LLC operates under the Hempel Real Estate name. Publicly stated activities include tenant and landlord representation, acquisition and disposition services, development, brokerage, capital markets, investment, asset management, and property management.
What stands out about NorthStar Equity Services
NorthStar Equity Services, LLC does business as Hempel Real Estate and combines commercial real estate advisory and brokerage services with principal investment, development, acquisition, disposition, and property-management capabilities. Its stated platform is Midwest-focused, with a portfolio concentrated in Minneapolis, Saint Paul, and Milwaukee.[1][2][3][4][6][7][8]
What does NorthStar Equity Services do?
NorthStar Equity Services, LLC does business as Hempel Real Estate. Hempel publicly presents a commercial real estate platform combining brokerage and advisory services with investment, acquisition, disposition, development, redevelopment, asset management, and property management.[1][2][3][4]
Hempel publicly offers tenant representation, landlord representation, acquisition and disposition services, and development services. Its stated capabilities also include brokerage, capital markets, investor relations, accounting, design and construction, property management, and asset management.[2][3]
For broader transaction context, owners can review Auxo’s valuation services, advisor-selection framework, and sell-side M&A advisory.
Published criteria: Hempel states that it has acquired and developed more than $1 billion of assets since 2001. It also states that it manages over 2 million square feet and more than $650,000,000 of assets under management.[6][7]
What should an owner evaluate before engaging NorthStar Equity Services?
An owner evaluating a sale or recapitalization can assess NorthStar Equity Services in light of its stated brokerage, acquisition and disposition, development, investment, and property-management capabilities. Because the platform includes both brokerage and principal investment activities, the owner should clarify the firm’s role in the proposed engagement, whether an affiliated entity could bid for the asset, how conflicts would be addressed, and which capabilities would be provided directly. The official Hempel services page does not publish a universal brokerage commission percentage, success-fee schedule, termination provision, or tail period, so those commercial terms should be requested directly.[2][3][4]
Is NorthStar Equity Services, LLC acting as broker, principal buyer, development partner, property manager, or a combination of roles for the proposed engagement
What are the brokerage fees, exclusivity terms, termination rights, and tail provisions
What property types and markets does NorthStar Equity Services focus on?
Hempel states that it specializes in new and adaptive-reuse properties, with a focus on office, retail, and multifamily real estate. Its current property portfolio also includes residential, industrial, parking, hospitality, medical, and land assets.[4][5]
The firm’s publicly stated transaction capabilities include tenant and landlord representation, acquisition and disposition services, development, brokerage, capital markets, and investment. Its investment materials describe a value-add focus, strategic partnerships, and the use of acquisition, redevelopment, and adaptive-reuse strategies for underperforming assets.[2][3][4]
Hempel’s official press archive states that it acquired LaSalle Plaza in downtown Minneapolis in summer 2023 in a $46 million transaction. The archive also states that it acquired the West End Two office building in St. Louis Park for $6.5 million in May 2026, a medical laboratory property at 6464 Sycamore Lane in Maple Grove for $7.1 million in September 2025, and two Eagan industrial buildings totaling more than 200,000 square feet in October 2025 in partnership with TPG Angelo Gordon.[8]
What does NorthStar Equity Services publicly disclose about process and engagement terms?
Publicly stated service lanes include tenant representation, landlord representation, acquisition and disposition services, development, brokerage, capital markets, and related property and asset-management capabilities. The firm’s stated investment approach includes strategic partnerships, value-add investments, acquisition, redevelopment, and adaptive reuse.[2][3][4]
The official Hempel investment page does not state a universal minimum investor commitment, standard fund fee schedule, or standardized investor subscription terms. The official Hempel services page does not publish a universal brokerage commission percentage, success-fee schedule, termination provision, or tail period for its stated brokerage and transaction services. The official Hempel press announcement for the LaSalle Plaza acquisition does not disclose the buyer-side financing structure or full transaction consideration beyond the stated $46 million deal value.[2][4][8]
A Hempel Real Estate brochure identifies Northstar Equity Services, LLC, doing business as Hempel Real Estate, as a licensed real estate broker in Minnesota and Wisconsin. This establishes broker-licensing information; it does not by itself establish a broader securities-registration status.[1]
Questions to ask before engaging NorthStar Equity Services
Is NorthStar Equity Services, LLC acting as broker, principal buyer, development partner, property manager, or a combination of roles for the proposed engagement?
What are the brokerage fees, exclusivity terms, termination rights, and tail provisions?
Will the firm or an affiliated entity bid for the asset, and what conflicts could arise from representing owners and prospective buyers?
What property types, locations, deal sizes, and return thresholds currently fit the acquisition strategy?
Which financing, development, leasing, and property-management capabilities would be provided directly?
Sources & research notes
- Official website / firm overview
- Services / capabilities
- Services / capabilities
- Investment strategy
- Industry / market focus
- Transaction size / criteria
- Transaction size / criteria
- Transaction / portfolio evidence
How this profile was researched
Auxo profiles are prepared from publicly available primary and authoritative sources and reviewed for entity identity, factual support and disclosure consistency. When a fact cannot be supported by the reviewed public record, the profile identifies it as something to confirm directly rather than inferring it.
Independent research profile
This profile was prepared by Auxo Capital Advisors from publicly available information believed to be reliable and is provided solely for informational and educational purposes. It is not an endorsement, recommendation, ranking, solicitation, or representation regarding the profiled firm, its services, qualifications, transaction experience, regulatory status, financial condition, or suitability for any particular person, company, transaction, or investment.
Information obtained from third-party and public sources may be incomplete, inaccurate, outdated, or subject to change, and Auxo Capital Advisors makes no representation or warranty, express or implied, as to its accuracy, completeness, or timeliness. Readers should conduct their own independent diligence and consult appropriate professional advisers before engaging any advisor, intermediary, investor, lender, acquirer, or other transaction counterparty.
Broker-dealer and securities disclosure
Auxo Capital Advisors is an affiliate of Weild & Co., Member FINRA | SIPC. Securities-related activities and securities transactions are conducted through Weild & Co.
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