Marcus & Millichap Expands Leading Talent Acquisitions Across North America

Rhea-AI Summary

Marcus & Millichap (NYSE: MMI), a leading commercial real estate (CRE) brokerage firm, continues to expand its senior-level broker and financing professional hiring across North America. The company has bolstered its Institutional Property Advisors (IPA) and various divisions with top industry talent. Their recent hires include experienced multifamily and retail brokers in Washington, D.C., Philadelphia, Dallas Fort Worth, San Diego, Nashville, and Atlanta. The IPA Capital Markets division has grown with new teams in New York, Palo Alto, and Toronto. This strategic expansion aims to enhance the company’s platform and position it as a leader in market recovery. Marcus & Millichap closed 7,546 transactions in 2023, totaling approximately $43.6 billion in sales volume.

Positive

• Marcus & Millichap has been recognized as a Best Place to Work for two consecutive years.
• The company has strategically hired dozens of senior-level industry leaders over the past 18 months.
• Expansion of IPA financing intermediary services to Canada, providing new opportunities for Canadian investors.
• Addition of top talent in key locations including Washington, D.C., Philadelphia, Dallas Fort Worth, San Diego, Nashville, and Atlanta.
• IPA Capital Markets division grew with experienced teams in New York, Palo Alto, and Toronto.
• Company closed 7,546 transactions in 2023 with a sales volume of approximately $43.6 billion.

Negative

• The press release does not mention any specific financial performance metrics or earnings, making it difficult to assess financial health.
• No concrete information on how the expanded workforce will affect overall operational costs or profitability.
• The PR focuses heavily on growth and hiring but lacks details on immediate returns or benefits to shareholders.

CALABASAS, Calif.--(BUSINESS WIRE)-- Marcus & Millichap (NYSE:MMI), a leading commercial real estate (CRE) brokerage firm specializing in investment sales, financing, research and advisory services, recognized as a Best Place to Work two consecutive years, continues to build its senior-level broker and financing professional hiring momentum across its Institutional Property Advisors (IPA), multi housing, retail, and capital markets divisions. The firm also expanded its IPA financing intermediary services to investors in Canada, providing more CRE acquisition opportunities to Canadian investors.

Hessam Nadji, Marcus & Millichap’s president and CEO stated: “We have taken the offensive on hiring to ensure that our platform continues to expand by market and industry segment, which will position MMI to lead in the market recovery. This is a supplementary growth initiative to our 53-year tradition of supporting our existing team and helping them persevere through market cycles.” Nadji continued, “To this point, we have strategically bolstered our roster of experienced brokers and capital markets professionals, adding dozens of senior-level industry leaders over the past 18 months.”

Marcus & Millichap’s growing top talent roster includes leading CRE investment and capital markets experts specializing in institutional and private client brokerage across all property types. Most recently, two Washington, D.C.-based senior multifamily investment professionals with over five decades of experience, and a Philadelphia-based institutional retail broker have joined. The firm’s top-producing IPA Multifamily team located in Dallas Fort Worth added a senior investment professional to its top tier team. In addition, an 18-year and a 15-year multifamily veteran joined IPA in San Diego, and in Nashville, respectively. Marcus & Millichap’s Multi Housing Division, which is focused on small to mid-market CRE private client investments, added an Atlanta-based team with over 20 years of expertise.

The firm’s growing IPA Capital Markets division increased its roster with a veteran financing team located in New York and added a Palo Alto-based managing director with two decades of capital markets experience. IPA Capital Markets also expanded into Canada with the addition of a Toronto-based senior managing director with 20-plus years of experience.

“These industry-leading professionals have a collaborative, client-centric approach to investment sales and financing. We make a deliberate effort to ensure we are adding experienced leaders that will complement our existing sales force, as internal synergies are among the most compelling outcomes of our growth strategy,” Nadji stated.

About Marcus & Millichap, Inc. (NYSE: MMI)

Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2023, the company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240517813622/en/

Public Relations

Gina.Relva@MarcusMillichap.com

Investor Relations:

InvestorRelations@marcusmillichap.com

Source: Marcus & Millichap, Inc.

FAQ

What recent hiring expansions did Marcus & Millichap announce?

Marcus & Millichap has hired senior-level brokers and financing professionals across its Institutional Property Advisors (IPA), multi housing, retail, and capital markets divisions.

Has Marcus & Millichap expanded its services to Canada?

Yes, Marcus & Millichap has expanded its IPA financing intermediary services to investors in Canada.

What is the strategic goal behind Marcus & Millichap's recent hires?

The goal is to expand the company's platform and position it as a leader in market recovery.

How many transactions did Marcus & Millichap close in 2023?

Marcus & Millichap closed 7,546 transactions in 2023.

What was the total sales volume for Marcus & Millichap in 2023?

The total sales volume for Marcus & Millichap in 2023 was approximately $43.6 billion.

Which new professionals have recently joined Marcus & Millichap?

New hires include multifamily and retail brokers in Washington, D.C., Philadelphia, Dallas Fort Worth, San Diego, Nashville, and Atlanta, as well as capital markets professionals in New York, Palo Alto, and Toronto.

Who is the president and CEO of Marcus & Millichap?

Hessam Nadji is the president and CEO of Marcus & Millichap.