Marcus & Millichap Inc Stock Price, News & Analysis

Marcus & Millichap (NYSE:MMI) has announced that its Institutional Property Advisors (IPA) division has successfully brokered the sale of a four-property multifamily portfolio in Connecticut for $121 million. The portfolio, comprising 693 units across New Haven, Hartford, and New London counties, was sold by Sun Equity Partners to FPA Multifamily LLC.

The properties include New Cambridge (208 units), Silvertree (180 units), Peppertree (205 units), and Huntington Ridge (100 units), all strategically located near major employers such as General Dynamics Electric Boat, ESPN, and Pfizer. The 100% market-rate suburban portfolio consists of Class B to B+ assets, offering studios, one- and two-bedroom apartments with high occupancy rates and steady rent growth potential.

Marcus & Millichap's IPA Capital Markets division has secured a $77.3 million non-recourse construction loan for Central Port Logistics Tract 3 in Savannah, Georgia. The project, developed by Capital Development Partners (CDP), will comprise three speculative industrial buildings totaling 1,222,560 rentable square feet near the Port of Savannah. The financing was arranged by IPA Capital Markets' Sunny Sajnani and Travis Headapohl. The development is part of the larger Central Port Logistics Center, where CDP has already delivered successful projects including a 982,800-square-foot building leased to Plastic Express and a 1,456,000-square-foot facility nearing stabilization. CDP expects the project to be fully leased and occupied by November 2026.

Marcus & Millichap's (NYSE:MMI) IPA Capital Markets division has secured a landmark $720 million loan for the conversion of former Pfizer headquarters in New York City. The loan, arranged with Madison Realty Capital, will fund the transformation of two connected office buildings into 1,602 luxury rental apartments.

The project, led by Metro Loft Developers and David Werner Real Estate Investments, represents the largest office-to-residential conversion in NYC history. The development will feature 25% affordable housing units, over 100,000 square feet of amenities, and approximately 30,000 square feet of ground-floor retail space. Located at 219 and 235 East 42nd Street in Midtown East, Manhattan, the project is expected to be completed by Q4 2027.

IPA, a division of Marcus & Millichap (NYSE:MMI), has announced the sale of Zaterra, a luxury multifamily property in Chandler, Arizona, for $137.5 million ($350,765 per unit). The 392-unit property, completed in 2023, spans 22 acres and features a low-density design with an average unit size of 1,043 square feet. Located near major employment hubs including Intel's Ocotillo campus and the Price Corridor, Zaterra is one of only nine assets completed in Chandler since 2020. The property offers premium amenities including two swimming pools, a creative suite, 24-hour fitness center, and condominium-style living features. IPA executives Steve Gebing and Cliff David represented the sellers, PB Bell and PCCP, LLC, in the transaction.

Marcus & Millichap's (NYSE:MMI) Institutional Property Advisors (IPA) division has appointed Dags Chen as head of IPA research and strategy. Chen, a chartered financial analyst with nearly two decades of experience and previous roles at Barings, Ares Management, and Clarion Partners, will focus on providing research and analytics for institutional investors. Working alongside John Chang, the firm's chief intelligence and analytics officer, Chen will leverage his experience in guiding strategy for global investment firms to serve multifamily investors and IPA professionals.

In 2024, Marcus & Millichap demonstrated strong market presence with 7,836 transactions totaling approximately $49.6 billion in sales volume. The company maintains a workforce of 1,712 investment sales and financing professionals across more than 80 offices throughout the United States and Canada.

Marcus & Millichap's (NYSE:MMI) Institutional Property Advisors (IPA) division has expanded its Northern California presence with the appointment of Rob LeDoux as senior director in Palo Alto. LeDoux, formerly at Walker & Dunlop, brings 15 years of commercial real estate experience and a track record of transacting over 15,000 units worth more than $4 billion in sales volume.

He joins IPA's Northern California team, which has collectively closed over 221 transactions valued at $15 billion in the last decade. The team now boasts over a century of combined multifamily commercial real estate investment experience. This strategic hire strengthens IPA's already dominant market share position in the Bay Area and greater Northern California region.

Marcus & Millichap (NYSE: MMI) reported improved Q1 2025 results with total revenue increasing 12.3% to $145.0 million compared to Q1 2024. Key highlights include: brokerage commissions rising 12.9% to $123.6 million, Private Client Market revenue up 6.2% to $77.7 million, and financing fees growing 25.7% to $18.1 million. Despite revenue growth, the company posted a net loss of $4.4 million ($0.11 per share), though improved from a $10.0 million loss in Q1 2024. The company maintained its market position with 1,668 professionals across 80+ offices, closing 1,706 transactions with $9.4 billion in sales volume. MMI declared a semi-annual dividend of $0.25 per share and continued its share repurchase program with $65.5 million remaining available.

Marcus & Millichap has announced a significant management reorganization to enhance growth opportunities and streamline operations. The commercial real estate brokerage firm is consolidating its brokerage operations under a new chief operating officer position.

Key appointments include:

• J.D. Parker promoted to Executive VP and Chief Operating Officer firmwide
• Richard Matricaria becomes Senior VP and Chief Growth Officer
• Greg LaBerge promoted to Chief Client Officer
• John Chang elevated to Chief Intelligence & Analytics Officer

The reorganization includes promoting division managers Ryan Nee, Tim Speck, John Vorsheck, and Michael Glass to executive managing director positions. The company, which closed 7,836 transactions worth $49.6 billion in 2024, aims to accelerate growth initiatives and enhance client service through these changes.

Marcus & Millichap (NYSE:MMI) has announced the $34.5 million all-cash sale of two senior care facilities in Los Alamitos, California. The transaction includes Alamitos West Health & Rehabilitation Center, a 150-licensed bed skilled nursing facility that sold for $154,000 per bed, and Katella Senior Living, a 73-unit assisted living and memory care facility.

The properties, spanning a full city block and totaling 73,413 square feet, are strategically located across from Los Alamitos Medical Center. Alamitos West holds a four-star rating from the Centers for Medicare & Medicaid Services. The buyer, International Equity Partners (IEP), will benefit from operational synergies and economies of scale between the two facilities, as Katella Senior Living serves as a natural feeder to Alamitos West.