MARCUS & MILLICHAP - MMI STOCK NEWS

Marcus & Millichap Inc. (NYSE: MMI) announces the appointment of Marc Sznajderman as senior vice president of Marcus & Millichap Capital Corporation (MMCC). Sznajderman, with over 20 years in capital markets finance and over $20 billion in real estate originations, will enhance MMCC's presence in the eastern US. His previous roles include senior managing director at Ackman-Ziff and co-founder of RM Capital Management. The company's consistent growth in capital markets positions it strategically for future opportunities.

Marcus & Millichap (NYSE: MMI) has been awarded the Real Estate Board of New York’s prestigious “Most Ingenious Deal of the Year” for the sale of the Martinique Hotel leasehold interest in New York City. Eric Anton and Nelson Lee led a dedicated team that navigated challenges posed by the COVID-19 pandemic, facilitating a $55.5 million sale to Burnett Equities. This recognition emphasizes the firm's commitment to revitalizing commercial real estate and creating generational wealth for clients.

Marcus & Millichap (NYSE:MMI) announced the sale of Freedom Town Center, a 350,800-square-foot grocery-anchored shopping center in Fayetteville, North Carolina, for $83 million, equating to $236 per square foot. The center was over 99% occupied by national tenants and serves over 4 million customers annually. The sale was facilitated by IPA's senior managing director Steven Siegel, with the seller being New York-based Triple Net Group and the buyer an investment group participating in a 1031 exchange.

Marcus & Millichap (NYSE: MMI) announced the sale of The Moderne, a 369-unit multifamily property in Scottsdale, Arizona, for $260 million, marking the largest single asset core multifamily sale in Arizona's history at $704,607 per unit. The Moderne, completed in 2015, features high-end amenities and is in a prime location near Scottsdale Fashion Square. The deal was facilitated by Institutional Property Advisors executives, highlighting the strong demand and limited supply for multifamily housing in the region.

Marcus & Millichap reports strong Q1 2022 results, with revenues rising 73.6% to $319.5 million and net income up to $32.8 million or $0.81 per diluted share, a 118.9% increase from Q1 2021. Key drivers include a 76.2% boost in brokerage commissions, totaling $286.9 million and a 48.3% rise in financing fees. Total operating expenses increased 68% to $275.2 million, impacting margins. MMI remains focused on strategic growth amid rising interest rates and market volatility, declaring a semi-annual dividend of $1.25 per share.

Marcus & Millichap (NYSE: MMI) announced the sale of a $201.75 million multifamily portfolio in the Southwest, consisting of three properties: The Villages at Metro Center (296 units in Phoenix, AZ), Crystal Creek (273 units in Phoenix, AZ), and Indigo Park (216 units in Albuquerque, NM). The sale presents significant upside opportunities through renovations, according to IPA executives Steve Gebing and Cliff David. The properties, built from 1974 to 1985, benefit from their prime locations near employment corridors and retail areas, enhancing their investment appeal.

Marcus & Millichap (NYSE: MMI) has successfully brokered the $150 million sale of a portfolio of over 50 student housing properties near the University of Illinois Urbana-Champaign. This transaction, which closed in four tranches, set several records in Champaign County, including the highest portfolio sale price and the largest number of units in a single sale. The properties total 863,961 square feet, with diverse types ranging from single-family homes to apartments. This acquisition reflects strong market interest and long-term potential for repositioning the assets.

Marcus & Millichap, Inc. (NYSE: MMI) will report its financial results for the first quarter ending March 31, 2022, on May 6, 2022, before market open. The company will hold a webcast and conference call at 10:30 a.m. Eastern Time to discuss the results, hosted by CEO Hessam Nadji and CFO Steve DeGennaro. Interested parties can access the live event through the Investor Relations section of their website, with a replay available until May 20, 2022. The firm specializes in commercial real estate investment sales and closed 13,255 transactions with a sales volume of $84.4 billion in 2021.