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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.
Rhea-AI Summary
Multifamily construction starts are cooling as access to development capital diminishes and rent growth slows, according to a report by Institutional Property Advisors. In the second quarter of 2023, building starts in the 15 major markets accounted for less than half the average volume of the previous two years. The largest declines are seen in Texas, with project initiations in Houston, Austin, and Dallas-Fort Worth at less than one-third of earlier volume. Slowdowns are also pronounced in Philadelphia, Denver, and Washington, D.C. However, markets in Florida and the Carolinas are experiencing a slower pullback in construction. Apartment delivery volumes are expected to decrease notably in the last half of 2025. Rent growth is projected to regain momentum in spring 2024, and price increases should be robust in 2025.
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Apartment construction starts in Dallas-Fort Worth, Houston, Austin, and San Antonio plunged to 6,500 units during Q2 2023, compared to an average of 22,800 units over the previous nine quarters. However, ongoing construction is still near all-time highs, with 174,700 units under construction in the primary markets. Renter demand rebounded, with over 17,000 apartments absorbed in the first half of 2023. Dallas-Fort Worth has the most apartments under construction in the U.S., with 72,900 units.
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Institutional Property Advisors (IPA), a division of Marcus & Millichap, has published its Class A Multifamily Outlook Midyear 2023 special report. Demand for high-end apartment rentals is outperforming other segments, despite new supply. Class A apartment rent growth has cooled down while home prices and mortgage rates have increased, making high-end apartments more affordable. Millennial homeownership is trending low, and high-density coastal markets are performing well. Investment activity for higher-end apartments has been soft, but stability in financial markets should increase trading velocity.
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Marcus & Millichap, Inc. will report its Q2 2023 financial results on August 4, 2023. A webcast and conference call will be held to discuss the results. Access to the webcast is encouraged due to potential extended wait times for the conference call.
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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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