Articles from Marcus & Millichap, Inc.

IPA Capital Markets, a division of Marcus & Millichap (NYSEMMI), specializing in capital markets services for major private and institutional clients, announced today the successful closing of a $79 million construction loan for El Tropicano Hotel, a historic landmark property on San Antonio’s River Walk in San Antonio, Texas.

Marcus & Millichap (NYSEMMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the addition of Evan Wayne as chief information officer (CIO). Wayne will spearhead the execution of all technology initiatives and expand the company’s longstanding commitment to utilizing technology to service and support its clients, brokers, capital markets professionals, and corporate staff.

IPA Capital Markets, a division of Marcus & Millichap (NYSEMMI) specializing in capital markets services for major private and institutional clients, has secured $174 million in joint venture equity and debt financing for the acquisition of 55 Riverwalk Place, a 348-unit multifamily property located in West New York, New Jersey. Built in 2006, the property is located adjacent to the Hudson River, directly across from Manhattan.

Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSEMMI), announced today the sale of La Vista Apartments, a 460-unit multifamily asset in Santa Maria, California. The $116 million sales price equates to $252,174 per unit. The property is the largest multifamily asset ever sold in Santa Barbara County by number of units and sales price, breaking a record previously set by IPA.

Marcus & Millichap (NYSEMMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of The Chelsea Collection, a 13-property multifamily portfolio of 147 units in New York City’s Chelsea neighborhood. The portfolio traded for $94.5 million, representing one of the most notable multifamily sales in Chelsea this year.

Marcus & Millichap (NYSEMMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, in association with Northeast Retail, announced the sale of 31 net lease properties anchored by Town Fair Tire. The portfolio sold for $88,505,802.

Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSEMMI), announced today the sale and financing of Summerwood Apartments, a 468-unit multifamily property located at 444 Saratoga Avenue in Santa Clara, California. The property sold for $203,150,000. IPA executive managing directors Philip Saglimbeni, Stanford Jones, Salvatore Saglimbeni, and senior director Alexander Tartaglia represented the seller, DWS, and procured the buyer, Interstate Equities Corporation.

Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSEMMI), announced today the sale of three multifamily assets totaling 557 units in Tacoma, Washington for $102.6 million. The properties are Monterra, Miramonte, and Heatherstone Apartments.

Marcus & Millichap (NYSEMMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the hiring of Ian Grusd. In his new role, Grusd will focus on expanding Marcus & Millichap’s national Auction Services team with Northeast-based clients selling properties throughout the country.

Marcus & Millichap, Inc. (the “Company”, “Marcus & Millichap”, or “MMI”) (NYSEMMI), a leading national real estate services firm specializing in commercial real estate investment sales, financing, research and advisory services, reported its third quarter results today.

IPA Capital Markets, a division of Marcus & Millichap (NYSEMMI), specializing in capital markets services for major private and institutional clients has secured a $63 million loan for the refinance of Muir Lake Apartments, located on Avery Ranch Boulevard in the Austin suburb of Cedar Park, Texas. Built in 2014, the property features 332 garden-style units spread across 46 acres.

Marcus & Millichap (NYSEMMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of an 11-property Courtyard Hotel portfolio in Illinois, Ohio, Alabama, Arkansas, Virginia, Kentucky, and Oklahoma. The portfolio sold for $101 million.

Marcus & Millichap, Inc. (NYSEMMI), a leading national brokerage firm specializing in commercial real estate investment sales, financing and research and advisory services, announced today it will report its financial results for the third quarter ended September 30, 2024 on Friday, November 8, 2024, before the market open.

Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSEMMI), announced today the sale of The Lofts at Noho Commons, a 292-unit multifamily property in the NoHo Arts District of Los Angeles, California. The asset traded for $92.5 million, or $316,781 per unit.

Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSEMMI), announced the sale of Hamilton Marketplace, a grocery-anchored regional power center in Hamilton Township, New Jersey. The center sold for a total consideration of over $100 million, making it the largest single-asset open-air shopping center transaction to close in New Jersey since 2017.

Marcus & Millichap (NYSEMMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of Point Dume Club of Malibu, a five-star, 297-site manufactured housing asset located on 95.4 oceanfront acres in Malibu, California.

Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSEMMI), announced today the sale of Desert Club, a 497-unit multifamily asset in Phoenix, Arizona. The property sold for $187.5 million, or $377,264 per unit. The transaction is the largest single asset multifamily sale in Arizona in over two years and one of the ten largest single asset multifamily sales in the United States year-to-date.

Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSEMMI), announced today the sale of The Landing at Arroyo, a 212-unit multifamily property in Simi Valley, California. The asset traded for $95 million, or $448,113 per unit.

Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSEMMI), announced today the sale of Paragon at Old Town, a 163-unit multifamily asset with 6,077 square feet of ground floor retail in Monrovia, California. The property sold for $87.25 million, or $535,276 per unit.

Marcus & Millichap, Inc. (the “Company”, “Marcus & Millichap”, or “MMI”) (NYSEMMI), a leading national real estate services firm specializing in commercial real estate investment sales, financing, research and advisory services, reported its second quarter results today.

IPA Capital Markets, a division of Marcus & Millichap (NYSEMMI), specializing in capital markets services for major private and institutional clients, announced the $85 million financing of a two-story, Class-A industrial space located at 130-02 S Conduit Ave in Queens, New York.

Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSEMMI), announced the sale of Glen 91, a 296-unit multifamily asset in Glendale, Arizona. The property sold for $76.5 million, or $258,446 per unit.

Marcus & Millichap (NYSEMMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Moreland Apartments, a 160-unit affordable housing asset in San Jose, California. The property sold for $71 million, or $443,750 per unit.

Marcus & Millichap, Inc. (NYSEMMI), a leading national brokerage firm specializing in commercial real estate investment sales, financing and research and advisory services, announced today it will report its financial results for the second quarter ended June 30, 2024 on Wednesday, August 7, 2024, before the market open.

Marcus & Millichap (NYSEMMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of the TownePlace Suites and Fairfield Inn & Suites Dallas Downtown, a nine-story, dual-branded, ornately detailed 274-room hotel in Dallas, Texas.

Marcus & Millichap (NYSEMMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today that veteran self-storage broker Robert “Bobby” Bloch has joined the firm’s Washington, D.C. office as a senior vice president. Bloch will focus on self-storage investment property acquisitions and dispositions on behalf of clients. He has 30 years of investment sales, management, and business development experience.

Marcus & Millichap (NYSEMMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research, and advisory services, announced today the hiring of chief people officer Jan Coonley. Coonley will be responsible for overseeing all aspects of the company’s human resources activities, including systems, employee engagement, performance enhancement, talent retention and acquisition, skills and leadership development, and diversity, equity and inclusion.

IPA Capital Markets, a division of Marcus & Millichap (NYSEMMI), specializing in capital markets services for major private and institutional clients, announced the $72.24 million refinance of La Vista City Centre, a growing master-planned multifamily, office and retail development in La Vista, Nebraska.

Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSEMMI), announced the sale of Silverado Apartment Homes, a 492-unit multifamily property in Murrieta, California. The property sold for $146.5 million, which equates to $297,764 per unit.

Marcus & Millichap (NYSEMMI), a leading commercial real estate (CRE) brokerage firm specializing in investment sales, financing, research and advisory services, recognized as a Best Place to Work two consecutive years, continues to build its senior-level broker and financing professional hiring momentum across its Institutional Property Advisors (IPA), multi housing, retail, and capital markets divisions. The firm also expanded its IPA financing intermediary services to investors in Canada, providing more CRE acquisition opportunities to Canadian investors.

Marcus & Millichap, Inc. (the “Company”, “Marcus & Millichap”, or “MMI”) (NYSEMMI), a leading national real estate services firm specializing in commercial real estate investment sales, financing, research and advisory services, reported its first quarter results today.

Marcus & Millichap (NYSEMMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today its 2024 Cold Storage Special Report, which highlights the strategic advantages of investing in cold storage properties.

Marcus & Millichap, Inc. (NYSEMMI), a leading national brokerage firm specializing in commercial real estate investment sales, financing and research and advisory services, announced today it will report its financial results for the first quarter ended March 31, 2024 on Wednesday, May 8, 2024, before the market open.

Marcus & Millichap (NYSEMMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today it has released its Markets with Momentum report. The report cites key national multifamily performance statistics from February on rent growth, lease renewals, and vacancy. Five select markets with significant momentum are highlighted.

Marcus & Millichap, Inc. (the “Company”, “Marcus & Millichap”, or “MMI”) (NYSEMMI), a leading national brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services, today reported financial results for the fourth quarter and the year ended December 31, 2023.

Marcus & Millichap (NYSEMMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today it has released its 2024 National Multifamily Investment Forecast. The report provides numerous insights into major trends influencing the multifamily sector in 2024, including individual analyses for 50 major markets across the country.

Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSEMMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today that veteran multifamily investment sales advisors Bob Dean and Jonathan Greenberg have joined IPA in Washington, D.C. Previously executive vice presidents with CBRE, Dean and Greenberg join IPA as senior managing directors.

Marcus & Millichap (NYSEMMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services has released its 2024 Canada Investment Forecast Report. The report provides a detailed national economic perspective and multifamily, retail, office, industrial and hospitality sector overviews for major markets throughout Canada.

Marcus & Millichap, Inc. (NYSEMMI), a leading national brokerage firm specializing in commercial real estate investment sales, financing and research and advisory services, announced today it will report its financial results for the fourth quarter ended December 31, 2023 on Friday, February 16, 2024, before the market open.

Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSEMMI), announced today the sale of Atrium on James, a 300-unit multifamily asset in Kent, Washington. The property sold for $60.5 million, or $201,667 per unit.

Marcus & Millichap (NYSEMMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Alta Cooley Station, a 248-unit, mid-rise multifamily property in Cooley Station, an upscale master-planned community in Gilbert, Arizona. The asset traded for $80 million, which equates to $322,581 per unit.

Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSEMMI), announced today the $171.25 million sale of a two-property, 399-unit multifamily portfolio in Thousand Oaks, California. The properties are Los Robles Apartments, a 253-unit asset built in 1972 and The Retreat at Thousand Oaks, a 146-unit apartment property constructed in 1966.

Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSEMMI), has published a special new report: Bay Area Multifamily.

Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSEMMI), announced the sale of Parc Broadway, a 324-unit multifamily property in Tempe, Arizona. The asset traded for $100.25 million, or $309,414 per unit. IPA Capital Markets arranged $65.16 million in acquisition financing.

Marcus & Millichap, Inc. (the “Company”, “Marcus & Millichap”, or “MMI”) (NYSEMMI), a leading national brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services, today reported its third quarter results.

Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSEMMI), announced today the sale of Summerset Village, a 280-unit multifamily property located in the foothills of the Santa Susana Mountains in Chatsworth, California. The $106.65 million sale price equates to $380,893 per unit.

Marcus & Millichap (NYSEMMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today that it successfully helped spearhead legislation to expedite the real estate license process for our military service members participating in SkillBridge, a U.S. Department of Defense program that helps veterans transition to civilian careers at the conclusion of their military service.

Marcus & Millichap, Inc. (NYSEMMI), a leading national brokerage firm specializing in commercial real estate investment sales, financing and research and advisory services, announced today it will report its financial results for the third quarter ended September 30, 2023 on Friday, November 3, 2023, before the market open.

Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSEMMI), announced today the sale of Waters Edge, a 304-unit multifamily asset located in The Lakes master-planned community, consisting of high-end waterfront single-family residences, condos, and apartments in Kent, Washington. The property sold for $80 million, or $263,125 per unit.

Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSEMMI), has published a special new report: Florida’s Apartment Renter Evolution.

Marcus & Millichap (NYSEMMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Kelby Farms, a 277-unit multifamily property in Durham, North Carolina. The $84.75 million sales price equates to $305,957 per unit.

Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSEMMI), announced today the sale of Aiya, a 360-unit multifamily asset in Gilbert, Arizona. The property sold for $112 million, or $311,111 per unit.

Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSEMMI), has closed 15 multifamily asset sales valued at $860 million with $1.6 billion currently under contract or in escrow in Dallas-Fort Worth (DFW) to date in 2023.

Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSEMMI), published a new national report, Pullback in Multifamily Construction Starts.

Marcus & Millichap, Inc. (the “Company”, “Marcus & Millichap”, or “MMI”) (NYSEMMI), a leading national brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services, today reported its second quarter results.

Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSEMMI), announced today the sale of Cabana Encanto, a 286-unit attainable housing asset in Goodyear, Arizona. The $61 million sale price represents $213,287 per unit and $354 per square foot.

Marcus & Millichap (NYSEMMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, has published a special report on Industrial Outdoor Storage (IOS) properties.

Marcus & Millichap, Inc. (NYSEMMI), a leading national brokerage firm specializing in commercial real estate investment sales, financing and research and advisory services, announced today it will report its financial results for the second quarter ended June 30, 2023 on Friday, August 4, 2023, before the market open.

Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSEMMI), announced today the sale and financing of Aria, a 102-unit, transit-oriented, boutique multifamily property with 2,161 square feet of retail space in Redmond, Washington. The asset traded for $46.5 million.

Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSEMMI), announced the sale and financing of Artesia, a 192-unit apartment property in the Silver Lake neighborhood of Everett, Washington. The asset traded for $61.6 million, or $320,833 per unit.

Marcus & Millichap, Inc. (the “Company”, “Marcus & Millichap”, “MMI”) (NYSEMMI), a leading national brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services, today reported its first quarter results.

Marcus & Millichap (NYSEMMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today that George M. Marcus, co-founder and chairman of both MMI and the private company, Marcus & Millichap Co., will be recognized with a Lifetime Achievement Award on May 3 at Hotel Indigo in Los Angeles, California. The recognition will be presented by Connect Commercial Real Estate.

Marcus & Millichap, Inc. (NYSEMMI), a leading national brokerage firm specializing in commercial real estate investment sales, financing and research and advisory services, announced today it will report its financial results for the first quarter ended March 31, 2023 on Friday, May 5, 2023, before the market open.

Marcus & Millichap, Inc. (the “Company”, “Marcus & Millichap”, “MMI”) (NYSEMMI), a leading national brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services, today reported financial results for the fourth quarter and the year ended December 31, 2022.

Marcus & Millichap, Inc. (NYSEMMI), a leading national brokerage firm specializing in commercial real estate investment sales, financing and research and advisory services, announced today it will report its financial results for the fourth quarter ended December 31, 2022 on Friday, February 17, 2023, before the market open.

Marcus & Millichap (NYSEMMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today that Jim Palmer was hired as senior vice president and national director responsible for overseeing the firm’s Commercial Property Auction Services division of its brokerage business. Formed in 2022, the division offers clients an accelerated way to buy and sell commercial property as a complement to the firm’s traditional property marketing channels.

Marcus & Millichap (NYSEMMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of the Ocean County Middle Market Portfolio, a 10-property, 310,023-square-foot retail and office portfolio in the Ocean County, New Jersey townships of Toms River and Brick. The portfolio sold for $46 million.

Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSEMMI), announced the sale of Liv Crossroads, a 356-unit multifamily property in Gilbert, Arizona. The $116 million sales price represents $325,843 per unit.

Marcus & Millichap, Inc. (the “Company”, “Marcus & Millichap”, “MMI”) (NYSEMMI), a leading national brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services, reported today its third quarter results.

Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSEMMI), announced today the sale of SeventyOne15 McDowell, a newly built, 274-unit multifamily asset in Scottsdale, Arizona. The property sold for $150 million, or $547,445 per unit.

Marcus & Millichap (NYSEMMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of a former Crowne Plaza with 293 rooms in Austin, Texas.

Marcus & Millichap, Inc. (NYSEMMI), a leading national brokerage firm specializing in commercial real estate investment sales, financing and research and advisory services, announced today it will report its financial results for the third quarter ended September 30, 2022 on Friday, November 4, 2022, before the market open.

Marcus & Millichap (NYSEMMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the launch of MyMMI, a customizable brokerage tool that automates perpetual matching of investors’ property search preferences with the firm’s industry-leading exclusive listings.

Marcus & Millichap (NYSEMMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of a four-property, 669-unit Low Income Housing Tax Credit portfolio located throughout Florida. The properties sold for a combined total of $91.75 million.

Marcus & Millichap (NYSEMMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today their expanded relationship with Project Destined, a leading social impact platform that provides training in financial literacy, entrepreneurship, and real estate.