Marcus & Millichap Inc Stock Price, News & Analysis

Marcus & Millichap (NYSE:MMI) has announced the successful brokerage of a luxury multifamily property sale in Golden Valley, Minnesota. The Liberty, a 242-unit complex comprising 55 townhomes and 187 apartments, was sold for $59.5 million.

The property, built in 2017, maintains a 96% occupancy rate and is strategically located five miles from Downtown Minneapolis, with easy access to major highways. The complex features units ranging from 568 to 1,536 square feet and includes amenities such as a resort-style swimming pool, fitness center, solar panels, and a clubhouse.

The transaction was facilitated by Abe Roberts, senior vice president investments at Marcus & Millichap's Minneapolis office, who represented the seller (Schachtman family) and secured the buyer (The Goodman Group).

Marcus & Millichap (NYSE: MMI) has announced it will release its first quarter 2025 financial results on Wednesday, May 7, 2025, before market open. The company will host a webcast and conference call at 10:30 a.m. Eastern Time, featuring President and CEO Hessam Nadji and CFO Steve DeGennaro.

The leading national real estate services firm, specializing in commercial real estate investment sales, financing, and advisory services, reported significant performance metrics for 2024. The company closed 7,836 transactions with a total sales volume of $49.6 billion. As of December 31, 2024, Marcus & Millichap maintained 1,712 investment sales and financing professionals across more than 80 offices throughout the United States and Canada.

Marcus & Millichap (NYSE: MMI) has appointed Andrew Leahy as senior vice president and national director of its Institutional Property Advisors (IPA) multifamily division. Leahy brings over 20 years of experience in institutional multifamily investment and has executed transactions worth over $6 billion throughout his career.

In his new role, Leahy will lead IPA advisory teams across North America, focusing on service enhancement and market expansion. His previous experience includes leadership positions at Elme Communities (NYSE: ELME) and The Rockefeller Group, where he managed acquisitions for domestic and global private equity investors. He began his career at The Blackstone Group.

Marcus & Millichap reported closing 7,836 transactions with a sales volume of approximately $49.6 billion in 2024, with 1,712 investment sales and financing professionals across more than 80 offices.

Marcus & Millichap (NYSE: MMI) subsidiary Institutional Property Advisors (IPA) has announced the sale of 5000 Birch Street, a two-tower Class A office complex in Newport Beach, California. The 310,553-square-foot property was sold to Joe C. Wen by IPA senior director Mark DeGiorgio.

The property, built in 1983, consists of a 10-story West Tower connected to a six-story East Tower, featuring modern amenities including a new fitness center, restaurant space, and outdoor courtyard. Located near John Wayne Airport and major transportation routes, the complex is positioned in the Koll Center Newport, adjacent to UCI Health's new Irvine Medical Center.

The buyer plans significant capital investments to complete ongoing renovations. The property's strategic location in Orange County's office market, combined with planned local development including new housing units, positions it favorably for future growth.

Marcus & Millichap's (NYSE:MMI) division Institutional Property Advisors (IPA) has brokered the sale of The BW, a luxury apartment complex in Los Angeles' Brentwood neighborhood, for $58.1 million ($744,872 per unit). The 78-unit property includes 2,300 square feet of ground-floor retail space.

The transaction marks the highest price per unit for an institutional-sized deal ($30M+) in Los Angeles over the past 36 months. Located in an affluent area with average household incomes exceeding $213,700, The BW is situated near 8 million square feet of office space housing major entertainment companies and provides access to over 140,000 local jobs.

Built in 2013, the property features premium amenities including a rooftop lounge, fitness center, and EV charging stations. IPA's team, led by Kevin Green, Joseph Grabiec, and Gregory Harris, represented the seller California Landmark Group and secured the buyer FAMH Group

Marcus & Millichap (NYSE: MMI) announced the expansion of its IPA Capital Markets division in Canada with the appointment of Onorio Lucchese as senior managing director in Toronto. Lucchese, bringing over 20 years of real estate experience, will focus on capital raising, cross-border transactions, and representing Canadian investors in U.S. investments.

With involvement in over $20 billion in real estate transactions throughout his career, Lucchese's expertise spans multiple asset classes including multifamily, industrial, retail, office, self-storage, hospitality, and senior housing. His previous roles include positions at Raymond James, Brookfield Financial, BMO Capital Markets, and TD Securities.

The appointment strengthens MMI's presence in North American capital markets. The company reported closing 7,836 transactions with a sales volume of approximately $49.6 billion in 2024, operating with 1,712 investment sales and financing professionals across more than 80 offices.

Marcus & Millichap's (NYSE:MMI) IPA Capital Markets division has secured a $60.9 million refinancing for a major oceanfront redevelopment project in Huntington Beach, California. The 28.9-acre project, approved by the City Council on September 17th, 2024, encompasses residential and hospitality developments.

The development plan includes over 200 for-sale homes, a 50-unit affordable housing community, and a 215-room boutique hotel with 19,000 square feet of retail space. The project also features 2.8 acres of coastal conservation and 4.4 acres of public parks. Construction is scheduled to begin in late 2025.

Gary Mozer, executive managing director with IPA Capital Markets, arranged the 18-month, non-recourse loan for a California-based investment and development firm. The deal required careful structuring due to complex redevelopment plans and local zoning regulations.

Marcus & Millichap (NYSE: MMI) reported strong Q4 2024 results with total revenue of $240.1 million, up 44.4% from Q4 2023. The company's brokerage commissions increased 40.3% to $202.8 million, while financing fees grew 96.6% to $31.2 million.

Q4 net income was $8.5 million ($0.22 per share), compared to a net loss of $10.2 million in Q4 2023. For full-year 2024, total revenue increased 7.8% to $696.1 million, though the company recorded a net loss of $12.4 million ($0.32 per share).

The company's Private Client Market revenue rose 27%, and Middle Market/Larger Transaction Market revenue jumped 74%. Total sales volume for Q4 2024 was $18.4 billion across 2,485 transactions. As of December 31, 2024, MMI had 1,712 investment sales and financing professionals.

Marcus & Millichap's (NYSE:MMI) division IPA has facilitated the sale of Town Deer Valley, a 388-unit multifamily property in Phoenix, Arizona, for $131.1 million ($337,887 per unit). The property was sold by a venture between Rockpoint and The Related Group to Goodman Real Estate.

Completed in 2024, the 18-acre property features premium amenities including a 5,900-square-foot clubhouse, a 3,800-square-foot standalone fitness center, and resort-style swimming facilities. The average unit size is 1,004 square feet, equipped with modern appliances and smart home automation.

The property's strategic location near major employers like USAA, Honeywell, and Wells Fargo, along with proximity to Taiwan Semiconductor's $65 billion chip manufacturing facility, positions it to benefit from the region's economic growth. The area includes 2.7 million square feet of retail space within a three-mile radius.