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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 Inc. (MMI) declares a regular semi-annual dividend of $0.25 per share, totaling approximately $10.1 million, payable on April 5, 2024. Future dividends subject to Board approval.
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Marcus & Millichap (NYSE:MMI) released its 2024 National Multifamily Investment Forecast, providing insights into major trends influencing the multifamily sector, including individual analyses for 50 major markets across the country. The report highlights the increasing demand to rent apartments across the U.S., driven by the resilient economy. However, a record level of new supply will keep short-term pressure on fundamentals. The report also mentions the prospect of minimal interest rate cuts and a significant amount of capital sitting on the sidelines, set to drive more trading activity in 2024.
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Institutional Property Advisors, a division of Marcus & Millichap (NYSE:MMI), announces the addition of veteran multifamily investment sales advisors Bob Dean and Jonathan Greenberg to their team in Washington, D.C. The addition of these industry-leading professionals complements the recent expansions in Nashville, San Diego, and Dallas, reinforcing the ongoing commitment to the strategic growth of IPA throughout North America. Dean specializes in institutional property sales in the Mid-Atlantic region, with a track record of $8.8 billion in dispositions during his time at GE Capital Real Estate. Greenberg has focused on multifamily investment property sales in the Mid-Atlantic region since 2001 and has been involved with transactions with an aggregate value greater than $40 billion. Together, they have executed $26 billion in multifamily transactions since 2016.
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Marcus & Millichap (NYSE:MMI) has released its 2024 Canada Investment Forecast Report, providing a detailed economic perspective and sector overviews for major markets throughout Canada. The report highlights record-setting population growth, limited housing supply, and robust multifamily performance. It also discusses the positive outlook for Canada's retail and industrial property sectors.
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Marcus & Millichap, Inc. (NYSE: MMI) will report its Q4 2023 financial results on February 16, 2024. The company will host a webcast and conference call to discuss the results. The call will be hosted by President and CEO Hessam Nadji and CFO Steve DeGennaro. A live webcast will be accessible through the company's website, and a telephonic replay will be available for those unable to participate during the live broadcast.
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Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE:MMI), announced the sale of Atrium on James, a 300-unit multifamily asset in Kent, Washington, for $60.5 million. The property was sold for $201,667 per unit. The buyer, FPA Multifamily LLC, purchased the asset on behalf of its Opportunity Fund VIII, which has acquired $1.5 billion of assets. Atrium on James was built in 1989 on 21.5 acres and offers various amenities, including a large clubhouse, outdoor swimming pool, leasing office, resident lounge, business center, fitness center, playground, and sports court. The property is strategically located near suburban amenities and employment hubs, making it an attractive investment opportunity.
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Marcus & Millichap (NYSE:MMI) announced the sale of Alta Cooley Station, a 248-unit, mid-rise multifamily property in Cooley Station, Gilbert, Arizona, for $80 million, averaging $322,581 per unit. The property achieved one of the strongest multifamily lease-ups in Gilbert's history, with strong demographic profiles and proximity to major employment areas. The seller was Wood Partners, and the buyer was a private California-based individual.
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Institutional Property Advisors (IPA), a division of Marcus & Millichap (MMI), facilitated the $171.25 million sale of a 399-unit multifamily portfolio in Thousand Oaks, California. The properties, Los Robles Apartments and The Retreat at Thousand Oaks, represent 11% of the total market-rate housing stock in Thousand Oaks. FPA Multifamily acquired the assets on behalf of their Core Plus Fund V, which has acquired $1.9 billion of assets. The properties received $19 million in capital improvements over the last eight years to become premier luxury multifamily communities in the submarket.
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Marcus & Millichap (NYSE:MMI) has made an equity investment in EquityMultiple, a New York-based real estate financing and investment technology platform. The partnership aims to provide sponsors and operators with supplemental private capital financing sources and offer accredited investors streamlined access to unique real estate equity and credit opportunities. This investment expands MMI's array of capital sources and solutions, creating synergies to facilitate the acquisition, recapitalization, and restructuring needs of any commercial real estate transaction.
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Institutional Property Advisors (IPA), a division of Marcus & Millichap (MMI), has published a special new report on the Bay Area Multifamily market. The report highlights the investment appeal and performance potential of the San Francisco Bay Area's multifamily sector, emphasizing strong employment, exorbitant single-family home prices, and limited supply of new apartments. Key indicators include a national premium to buy a median-priced single-family home versus rent, 17,400 units under construction, and a strong concentration of high-paying jobs in Northern California.
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FAQ
What is the current stock price of MARCUS & MILLICHAP (MMI)?
The current stock price of MARCUS & MILLICHAP (MMI) is $37.83 as of February 5, 2025.
What is the market cap of MARCUS & MILLICHAP (MMI)?
The market cap of MARCUS & MILLICHAP (MMI) is approximately 1.5B.
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
1.46B
37.56M
3.26%
97.77%
1.03%
Real Estate Services
Real Estate Agents & Managers (for Others)
United States of America
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