Marcus & Millichap Broadens Capital Advisory Services With Acquisition of LMI Capital

Rhea-AI Summary

Marcus & Millichap (MMI) announced the acquisition of Houston-based LMI Capital, a firm specializing in commercial real estate financing. Founded in 1999, LMI has arranged over $1.2 billion in transactions in the past three years and focuses on securing capital for various property types. This acquisition enhances Marcus & Millichap Capital Corporation's (MMCC) workforce, adding 10 experienced professionals from LMI, thus expanding its capabilities in capital markets solutions. MMI's CEO highlighted the cultural fit and strong client relationships as key factors for this strategic growth.

Positive

• Acquisition enhances MMCC's capabilities with experienced professionals.
• LMI Capital has a strong track record, having arranged over $1.2 billion in transactions in the last three years.
• The acquisition is expected to strengthen client relationships and lead to growth in capital markets solutions.

Negative

• None.

Marcus & Millichap, Inc. (the “Company”, “Marcus & Millichap”, “MMI”) (NYSE: MMI), a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services, today announced that it has acquired the assets of Houston-based LMI Capital.

LMI Capital, founded in 1999, arranges debt and equity capital across all property types including multifamily, office, retail, self-storage, hospitality, mixed-use and industrial. The company serves commercial real estate owners, developers and investors across the Southwest. The firm has a distinguished track record of working with clients to raise capital for their multifamily assets and has a particularly strong background providing capital markets solutions through Fannie Mae and Freddie Mac. The 10-person LMI team has completed more than $1.2 billion in transactions over the last three years.

Hessam Nadji, president and CEO of Marcus & Millichap stated, “As part of our ongoing focus on expanding Marcus & Millichap Capital Corporation (MMCC) with accomplished professionals, we welcome five originators and an additional five key support team members to our growing financing roster. Principals Jamie Mullin and Brandon Brown built a thriving business focused on securing optimal capital markets solutions with a similar client-driven culture to MMCC. LMI’s track record of repeat business with their clients and compatibility with our existing MMCC and investment sales professionals were particularly attractive to us.”

Jamie Mullin, principal with LMI Capital added, “On behalf of my partner Brandon and the team at LMI, we are thrilled to be joining MMI and specifically MMCC. Throughout LMI’s history, we have prided ourselves on crafting optimal financing solutions for our clients. We value our client relationships greatly and the level of repeat business we originate reinforces the strength of those relationships. Finding a like-minded platform with the financial power to help LMI grow was extremely important to us and we believe we have found a perfectly aligned partner in MMI. We look forward to contributing to MMI’s continued growth and success.”

About LMI Capital

LMI Capital, a Houston-based commercial real estate capital advisory firm, specializes in securing debt and equity for commercial real estate investors, owners, and operators throughout Texas and the South. Founded in 1999, the firm has arranged transactions nationwide across all property types and constructed an extensive network of trusted market participants. The firm’s collaborative approach results in long-term working relationships with clients, equity providers, lenders, and other industry leaders. Since 2015, LMI Capital has closed $2.5 billion in debt and equity transactions.

About Marcus & Millichap, Inc.

With over 2,000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 9,726 transactions in 2019 with a value of approximately $50 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. For additional information, please visit www.MarcusMillichap.com.

About Marcus & Millichap Capital Corporation

Marcus & Millichap Capital Corporation (MMCC) provides capital markets products for a wide range of investment property types. In 2019, MMCC closed over 1,900 commercial real estate financing transactions totaling $7.1 billion.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201221005703/en/

FAQ

What did Marcus & Millichap announce in their recent press release?

Marcus & Millichap announced the acquisition of LMI Capital, enhancing their commercial real estate financing capabilities.

How much capital has LMI Capital arranged in the past three years?

LMI Capital has arranged over $1.2 billion in transactions over the last three years.

What impact does the acquisition of LMI Capital have on MMI?

The acquisition is expected to expand MMCC's workforce and improve its capital markets solutions.

When was LMI Capital founded?

LMI Capital was founded in 1999.

What types of properties does LMI Capital focus on?

LMI Capital arranges debt and equity capital across all property types, including multifamily, office, retail, self-storage, hospitality, mixed-use, and industrial.