Marcus & Millichap Hires Top Auction Brokers to Lead Property Auction Services

Rhea-AI Summary

Marcus & Millichap (NYSE: MMI) announced the addition of Adam Sklaver and Phil Kates as senior vice presidents specializing in property auction services. With a combined 19 years of experience, they have managed over 600 commercial real estate properties with a notable 95% trade rate. Their expertise will enhance Marcus & Millichap's auction capabilities, maximizing value for clients. J.D. Parker, COO, emphasizes that this addition aligns with the company’s goals of expanding services and client results.

Positive

• Addition of experienced auction specialists can enhance MMI's service offerings.
• Sklaver and Kates have a proven track record with a 95% trade rate in auction sales.
• Strategic expansion into online auctions may attract more clients and increase transaction volume.

Negative

• None.

CALABASAS, Calif.--(BUSINESS WIRE)-- Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today Adam Sklaver and Phil Kates joined the firm as senior vice presidents specializing in property auction services. Sklaver and Kates will be responsible for commercial real estate (CRE) auction sales and securing the best possible prices for sellers in an accelerated time frame. Sklaver and Kates most recently ran CBRE’s auction team.

Adam Sklaver (Photo: Business Wire)

“Online auction capabilities have emerged as an additional marketing channel for the right assets and situations. As we continually expand on our tradition of maximizing value for our clients, we are excited to add property auctions to our platform,” said J.D. Parker, executive vice president and chief operating officer of Marcus & Millichap’s Eastern Division and leader of the initiative.

Sklaver and Kates have 19 years of combined CRE auction experience and have assisted institutional and private clients in the sale of over 600 CRE properties spanning all asset classes via online auctions. Their 95% trade rate is among the highest in the CRE auction industry.

“Marcus & Millichap’s commitment to client results through expertise and specialization aligns perfectly with how Phil and I have built our careers. Our experience with commercial real estate auctions will seamlessly complement the firm’s deep network of talented brokers and substantial resources,” said Sklaver. “We’re thrilled to continue to deliver first-rate auction services to clients. By joining forces with the firm, we will collaborate with their extensive network to achieve the investment goals of clients throughout North America,” stated Kates.

“Our vision is to supplement Marcus & Millichap’s industry-leading property marketing system with the expertise of Adam and Phil as our in-house property auction experts, helping us offer more expansive services to our clients,” added Parker.

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, 2021, the company had 1,994 investment sales and financing professionals in 82 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 13,255 transactions in 2021, with a sales volume of approximately $84.4 billion. For additional information, please visit www.MarcusMillichap.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220407006088/en/

Gina Relva, VP of Public Relations

Gina.Relva@marcusmillichap.com

510-999-1284

Source: Marcus & Millichap, Inc.

FAQ

Who are Adam Sklaver and Phil Kates at Marcus & Millichap?

Adam Sklaver and Phil Kates have joined Marcus & Millichap as senior vice presidents specializing in property auction services.

What is the significance of the new additions to Marcus & Millichap?

Their experience in commercial real estate auctions will enhance Marcus & Millichap's capabilities and service offerings in the auction market.

What is the auction experience of the new team members?

Sklaver and Kates have a combined 19 years of experience, having sold over 600 commercial real estate properties with a 95% trade rate.

How will the addition of auction services impact MMI's clients?

The new auction services are expected to maximize value for clients and provide faster sales through an expanded marketing platform.