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Marcus & Millichap, Inc. (NYSE: MMI) has established itself as a premier provider of investment real estate brokerage services since its founding in 1971. As a leading national brokerage firm, Marcus & Millichap specializes in commercial real estate investment sales, financing, and research and advisory services.
The company operates three primary service segments:
- Commercial Real Estate Investment Brokerage: Marcus & Millichap leverages its in-depth local market knowledge to facilitate property sales, ensuring clients receive the most accurate and actionable data.
- Financing: The firm provides comprehensive financing solutions through a network of lenders, offering clients customized financial strategies to meet their investment goals.
- Ancillary Services: These include detailed research, advisory, and consulting services that support clients in making informed real estate decisions.
Marcus & Millichap's strength lies in its extensive network and deep-rooted investor relationships across the United States and Canada. The company generates revenue primarily through fees collected on the sale and financing of commercial properties. These fees are derived from commissions on property sales and fees from loan placements.
Recent achievements of the company include expanding its market reach, enhancing its service offerings, and maintaining robust financial health. Despite various market fluctuations, Marcus & Millichap has consistently demonstrated resilience and strategic growth.
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Marcus & Millichap (NYSE: MMI) announces a strategic partnership with Archer, a real estate technology company, including an equity investment. Archer's software platform accelerates market analysis and underwriting processes, leveraging machine-learning algorithms for property financials. The partnership aims to make real estate transactions more efficient through better data, technology, and local expertise.
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Marcus & Millichap, a leading national brokerage firm specializing in commercial real estate investment sales, reported its third quarter results. Total revenue for Q3 2023 was $162.0 million, compared to $323.8 million in Q3 2022. Net loss for Q3 2023 was $9.2 million, compared to net income of $21.4 million in Q3 2022. The company's earnings were impacted by lower revenue and expenses related to growth initiatives. Despite the challenges, Marcus & Millichap remains focused on client relationships and building for the long term.
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Institutional Property Advisors (IPA), a division of Marcus & Millichap, announced the sale of Summerset Village, a 280-unit multifamily property in Chatsworth, California. The sale price was $106.65 million, equating to $380,893 per unit. The submarket has experienced 25% rent growth over the last 24 months while maintaining occupancy over 96%.
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Marcus & Millichap has successfully helped expedite the real estate license process for military service members participating in the SkillBridge program. The legislation, Assembly Bill 883, was signed into law by Governor Newsom on October 7. The company's Military Bridge to Brokerage Program aims to integrate veterans into the civilian workforce and provide them with rewarding post-military careers in commercial real estate.
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Marcus & Millichap to report Q3 2023 financial results
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Institutional Property Advisors (IPA), a division of Marcus & Millichap, announced the sale of Waters Edge, a 304-unit multifamily asset in Kent, Washington for $80 million.
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Florida's Apartment Renter Evolution report highlights strong demand for apartments in the state, with average household annual income of new move-ins at $123,400, 27% above the US mean. Base of apartment renter households in Florida is growing rapidly, up 7.7% from early 2020. Job growth in high-paying industries has doubled the historical norm, aided by affluent households from the Northeast region. North and Central Florida offer value perception compared to expensive markets.
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Marcus & Millichap announces sale of Kelby Farms for $84.75 million in Durham, NC
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IPA division of Marcus & Millichap sells Aiya multifamily asset in Gilbert, Arizona for $112 million
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IPA closes 15 multifamily asset sales worth $860M in DFW, with $1.6B under contract or in escrow. Market remains active due to investor confidence in Texas multifamily properties. Bid lists stronger but buyers more selective due to market volatility. Construction volume down 72% in Q2 2023. Building in DFW challenging, but demand for apartments remains high. Potential for strong operational run in 2025-2027.
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FAQ
What is the current stock price of MARCUS & MILLICHAP (MMI)?
The current stock price of MARCUS & MILLICHAP (MMI) is $40.58 as of November 21, 2024.
What is the market cap of MARCUS & MILLICHAP (MMI)?
The market cap of MARCUS & MILLICHAP (MMI) is approximately 1.6B.
What does Marcus & Millichap, Inc. specialize in?
Marcus & Millichap specializes in commercial real estate investment sales, financing, and research and advisory services.
How does Marcus & Millichap generate revenue?
The company generates revenue primarily through commissions from property sales and fees from loan placements.
Where does Marcus & Millichap operate?
Marcus & Millichap operates across the United States and Canada, leveraging local market knowledge.
What are the primary services offered by Marcus & Millichap?
The primary services include commercial real estate investment brokerage, financing, and ancillary services like research and advisory.
How long has Marcus & Millichap been in operation?
Marcus & Millichap has been providing real estate brokerage services since 1971.
What recent achievements has Marcus & Millichap accomplished?
The company has expanded its market reach, enhanced its services, and maintained robust financial health.
What is the foundation of Marcus & Millichap's investment sales?
The foundation is the depth of their local market knowledge and strong investor relationships.
What distinguishes Marcus & Millichap in the real estate market?
Their extensive network, local market expertise, and comprehensive service offerings set them apart.
What types of properties does Marcus & Millichap deal with?
The company specializes in commercial real estate properties.
What kind of advisory services does Marcus & Millichap offer?
They offer detailed research, consulting, and advisory services to support clients in making informed decisions.
MARCUS & MILLICHAP
NYSE:MMI
MMI Rankings
MMI Stock Data
1.58B
37.56M
3.23%
97.45%
1.29%
Real Estate Services
Real Estate Agents & Managers (for Others)
United States of America
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