Marcus & Millichap

Marcus & Millichap Publishes Institutional Multifamily Market Intelligence Report

Retrieved on: 
Thursday, March 21, 2024
Professional Services, Residential Building & Real Estate, Commercial Building & Real Estate, Finance, Construction & Property, Consulting, REIT, Momentum, IPA, MMI, Marcus & Millichap, Research, Growth, Face, San Francisco Bay Area, Property management

Marcus & Millichap (NYSE:MMI) , a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today it has released its Markets with Momentum report.

Key Points: 
  • Marcus & Millichap (NYSE:MMI) , a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today it has released its Markets with Momentum report.
  • The report cites key national multifamily performance statistics from February on rent growth, lease renewals, and vacancy.
  • Highlights of the report include:
    Nationally, average monthly apartment rents have climbed $6 so far in 2024.
  • This small improvement reverses the trend of mild rent cuts seen during the last half of 2023.

$125 Million Silicon Valley Multifamily Asset Sale and Financing Brokered by Institutional Property Advisors

Retrieved on: 
Monday, March 18, 2024
Commercial Building & Real Estate, Construction & Property, Finance, Consulting, Professional Services, Luxury, Retail, Residential Building & Real Estate, Community, Intel, EBay, Apple, Netflix, IPA, Air conditioning, Sale, Acquisition, MMI, Marcus & Millichap, Silicon, Samsung, Cisco, Adobe, State, PayPal

Institutional Property Advisors (IPA) , a division of Marcus & Millichap (NYSE: MMI) , announced today the sale of Prado, a 251-unit multifamily asset in Santa Clara, California.

Key Points: 
  • Institutional Property Advisors (IPA) , a division of Marcus & Millichap (NYSE: MMI) , announced today the sale of Prado, a 251-unit multifamily asset in Santa Clara, California.
  • The property traded for $125 million, or $498,008 per unit.
  • IPA Capital Markets arranged $73.5 million in acquisition financing.
  • “Investor demand for quality assets in supply-constrained markets is on the rise, as demonstrated by high engagement levels on listing assignments.

Institutional Property Advisors Brokers Sale and Arranges Financing for $94.5 Million Southeast Phoenix Multifamily Asset

Retrieved on: 
Thursday, March 14, 2024
Professional Services, Luxury, Family, Consumer, Convenience Store, Residential Building & Real Estate, Commercial Building & Real Estate, Construction & Property, Fitness & Nutrition, Retail, Finance, Health, Consulting, Bank of America, Intel, Walking, IPA, Bank, Microchip Technology, Sale, Acquisition, MMI, Marcus & Millichap, Grumman, The Park, Wells Fargo

Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), announced today the sale and financing of Alta Chandler at The Park, a 291-unit mid-rise multifamily asset in Chandler, Arizona.

Key Points: 
  • Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), announced today the sale and financing of Alta Chandler at The Park, a 291-unit mid-rise multifamily asset in Chandler, Arizona.
  • IPA Capital Markets arranged $52 million in acquisition financing.
  • Downtown Chandler is one mile from the property and within five miles there is 18.9 million square feet of retail and dining.
  • The property has an open-concept leasing office and clubhouse, a convenience market, sky lounge, fitness center, and a private, multi-purpose fitness room.

Marcus & Millichap Brokers $79 Million Orange County Multifamily Asset Sale

Retrieved on: 
Thursday, February 22, 2024
REIT, Finance, Professional Services, Commercial Building & Real Estate, Construction & Property, MMI, County, Honda Center, Hope International University, Leeson, Growth, Sale, Anaheim Regional Medical Center, Marcus & Millichap, California State University, Kaiser Permanente, Cypress College, Research, Partnership, Commercial property

Marcus & Millichap (NYSE:MMI) , a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Chateau de Ville, a 254-unit multifamily property in Anaheim, California.

Key Points: 
  • Marcus & Millichap (NYSE:MMI) , a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Chateau de Ville, a 254-unit multifamily property in Anaheim, California.
  • The asset was brought to market for the first time in over 50 years and traded for $79,076,710 or $311,326 per unit.
  • “Orange County has been the tightest major rental market in California for the past three years, and this trend is projected to continue with a fourth straight year of rent growth,” said Tyler Leeson, executive managing director investments in Marcus & Millichap’s Orange County office.
  • Leeson and Matt Kipp, Marcus & Millichap first vice president investments, represented the seller, a long-term partnership, and procured the buyer, a private investor.

Marcus & Millichap, Inc. Reports Results for Fourth Quarter and Full Year 2023

Retrieved on: 
Friday, February 16, 2024
Professional Services, Residential Building & Real Estate, Commercial Building & Real Estate, Finance, Construction & Property, Banking, MMI, Acquisition, Total, Building material, Investment, Share repurchase, Growth, Marcus & Millichap, Volatility, Fed, Webcast, Policy, Tax, Motivation, Research, Insurance, Depreciation, Real estate

The average transaction size and the average commission per transaction decreased by 3.7% and 11.4%, respectively, compared to the fourth quarter 2022.

Key Points: 
  • The average transaction size and the average commission per transaction decreased by 3.7% and 11.4%, respectively, compared to the fourth quarter 2022.
  • Total operating expenses for the fourth quarter 2023 were $183.4 million, compared to $256.6 million for the same period in the prior year.
  • Selling, general and administrative expenses for the fourth quarter 2023 were $74.7 million, compared to $72.6 million, for the same period in 2022.
  • Total revenue for 2023 was $645.9 million, compared to $1,301.7 million for 2022, a decrease of $655.8 million, or 50.4%.

Newmark Lands Leading National Affordable Housing Advisory Team

Retrieved on: 
Thursday, February 15, 2024
Tax credit, Newmark Group, Capital market, AHA, Sun Belt, Growth, Marcus & Millichap, Section 8, Housing, Video game

NEW YORK, Feb. 15, 2024 /PRNewswire/ -- Newmark Group, Inc. (Nasdaq: NMRK) ("Newmark"), a leading commercial real estate advisor and service provider to large institutional investors, global corporations, and other owners and occupiers, announces it has hired the team formerly with Affordable Housing Advisors (AHA) – a leading brokerage team and platform previously housed out of Marcus & Millichap.

Key Points: 
  • NEW YORK, Feb. 15, 2024 /PRNewswire/ -- Newmark Group, Inc. (Nasdaq: NMRK) ("Newmark"), a leading commercial real estate advisor and service provider to large institutional investors, global corporations, and other owners and occupiers, announces it has hired the team formerly with Affordable Housing Advisors (AHA) – a leading brokerage team and platform previously housed out of Marcus & Millichap.
  • The team, which will operate as Newmark Affordable Housing Advisors, or NAHA, is led by Vice Chairmen and Co-Heads of Affordable Housing, Andrew Daitch, Steven Miscavish, Seth Barnett and Matthew Kurzmann, who will tap into Newmark's extensive resources while continuing to provide expert market knowledge and advisory services to clients in the affordable housing industry.
  • Founded in 1987, AHA was one of the first brokerage groups to specialize in affordable housing, establishing themselves as the U.S. industry leader.
  • Steven Miscavish has over 22 years of industry expertise and leads the underwriting team that reviews more than 1,500 affordable housing properties annually.

NNN Pro and STNL Advisors Announce Previously Completed Strategic Partnership Under Holding Company “SURMOUNT”

Retrieved on: 
Thursday, February 8, 2024
Professional Services, Other Professional Services, Other Construction & Property, Commercial Building & Real Estate, Finance, Construction & Property, Consulting, Organization, Partnership, Marcus & Millichap, Financial services

This partnership further brings together the strengths and expertise of NNN Pro and STNL Advisors -- two seasoned net lease focused real estate organizations -- paving the way for a more streamlined and full-service net lease advisory services platform. NNN Pro and STNL Advisors will continue to operate under their existing branding.

Key Points: 
  • The company provides strategic growth capital across multiple sectors to create enhanced enterprise value for real estate and related investment opportunities.
  • This partnership further brings together the strengths and expertise of NNN Pro and STNL Advisors -- two seasoned net lease focused real estate organizations -- paving the way for a more streamlined and full-service net lease advisory services platform.
  • NNN Pro and STNL Advisors will continue to operate under their existing branding.
  • “Our vision is to build the most comprehensive and full-service commercial real estate platform in the market,” said Glen Kunofsky, CEO of both NNN Pro and STNL Advisors respectively.

Marcus & Millichap Releases 2024 National Multifamily Investment Forecast

Retrieved on: 
Thursday, February 1, 2024
Professional Services, Residential Building & Real Estate, Commercial Building & Real Estate, Finance, Construction & Property, Consulting, Marcus & Millichap, Federal, MMI, Housing, Research, IPA

Marcus & Millichap (NYSE:MMI) , a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today it has released its 2024 National Multifamily Investment Forecast.

Key Points: 
  • Marcus & Millichap (NYSE:MMI) , a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today it has released its 2024 National Multifamily Investment Forecast.
  • The report provides numerous insights into major trends influencing the multifamily sector in 2024, including individual analyses for 50 major markets across the country.
  • “Supported by the resilient U.S. economy, which is out-performing expectations, the multifamily sector is gathering momentum as demand to rent apartments is increasing across the country,” said John Sebree, senior vice president and national director, Multi Housing Division, Marcus & Millichap and IPA.
  • The long-term need for more housing has continued to support multifamily development, but upcoming completions are especially pronounced.

Institutional Property Advisors’ Hiring Momentum Continues with Veteran Multifamily Real Estate Brokers in Washington, D.C.

Retrieved on: 
Wednesday, January 31, 2024
Other Professional Services, Construction & Property, Finance, Consulting, Professional Services, REIT, Other Construction & Property, Residential Building & Real Estate, Marcus & Millichap, Capital, MMI, Mid-Atlantic (United States), CBRE, Research, IPA

Previously executive vice presidents with CBRE, Dean and Greenberg join IPA as senior managing directors.

Key Points: 
  • Previously executive vice presidents with CBRE, Dean and Greenberg join IPA as senior managing directors.
  • Prior to CBRE, he spent 20 years as a senior executive with GE Capital Real Estate, where between 2011 and 2015 he led dispositions valued at $8.8 billion.
  • Greenberg has focused on multifamily investment property sales in the Mid-Atlantic region since 2001 and has been involved with transactions with an aggregate value greater than $40 billion.
  • “Bob and Jonathan have a strong track record of providing top-level strategic consultation to institutional owners and investors.

Marcus & Millichap, Inc. to Report Fourth Quarter 2023 Financial Results on Friday, February 16, 2023

Retrieved on: 
Thursday, January 25, 2024
REIT, Finance, Professional Services, Commercial Building & Real Estate, Construction & Property, MMI, Research, Marcus & Millichap, Webcast

Marcus & Millichap, Inc. (NYSE: MMI), a leading national brokerage firm specializing in commercial real estate investment sales, financing and research and advisory services, announced today it will report its financial results for the fourth quarter ended December 31, 2023 on Friday, February 16, 2024, before the market open.

Key Points: 
  • Marcus & Millichap, Inc. (NYSE: MMI), a leading national brokerage firm specializing in commercial real estate investment sales, financing and research and advisory services, announced today it will report its financial results for the fourth quarter ended December 31, 2023 on Friday, February 16, 2024, before the market open.
  • The Company will host a webcast and a conference call the same day to discuss the results at 10:30 a.m. Eastern Time.
  • The call will be hosted by Hessam Nadji, President and Chief Executive Officer and Steve DeGennaro, Chief Financial Officer.
  • The Company encourages use of the webcast due to potential extended wait times to access the conference call via dial-in.