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MMI Marcus and Millichap Inc

35.54
0.25 (0.71%)
18 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Marcus and Millichap Inc NYSE:MMI NYSE Common Stock
  Price Change % Change Share Price High Price Low Price Open Price Shares Traded Last Trade
  0.25 0.71% 35.54 35.75 35.29 35.30 64,610 01:00:00

Marcus & Millichap Enters Strategic Partnership with EquityMultiple

06/12/2023 12:00am

Business Wire


Marcus and Millichap (NYSE:MMI)
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Marcus & Millichap (NYSE:MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today it has made an equity investment in EquityMultiple, a New York-based real estate financing and investment technology platform. The partnership will provide sponsors and operators supplemental private capital financing sources and give accredited investors streamlined access to unique real estate equity and credit opportunities.

“Our investment in EquityMultiple allows MMI to be part of a leading innovative technology platform that further expands our array of capital sources and solutions and creates synergies to facilitate the acquisition, recapitalization and restructuring needs of any commercial real estate transaction,” said J.D. Parker, Marcus & Millichap’s chief operating officer, Eastern Division. “Our firm strategically invests in proptech ventures that we believe will help transform the industry and we are excited to join forces with the EquityMultiple team.”

EquityMultiple streamlines and simplifies the process of building strong, diversified commercial real estate (CRE) portfolios by utilizing proprietary, data-driven underwriting methodologies, offering fractional investments in individual properties as well as private CRE funds. With industry-leading asset management, personalized support, and rigorous asset selection, EquityMultiple takes an institutional approach to real estate crowdfunding.

“Since 2015, EquityMultiple has provided capital markets solutions to sponsors and access to the types of commercial real estate opportunities that have long been hallmarks of institutional portfolios,” said Charles Clinton, CEO and cofounder, EquityMultiple. “Our partnership with Marcus & Millichap is an exciting step for our firm and the real estate investing fintech space more broadly.”

Parker stated: “With this partnership, we continue our longstanding tradition of providing the commercial real estate industry with advantages that groundbreaking technologies have to offer. EquityMultiple’s diverse array of real estate investment products expand a service line and broadens our spectrum of debt and equity sources.”

About Marcus & Millichap, Inc. (NYSE: MMI)

Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2022, the company had 1,904 investment sales and financing professionals in 81 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 12,272 transactions in 2022, with a sales volume of approximately $86.3 billion. For additional information, please visit www.MarcusMillichap.com.

About EquityMultiple

EquityMultiple is a leading investment management and technology firm whose mission is to provide unique real estate private equity and private credit opportunities to accredited investors. EquityMultiple’s network of 50,000 investors has participated in over $5 billion in commercial real estate transactions since 2015. The firm partners with experienced real estate operators in strong markets across the country and offers investments in both individual properties and funds through its innovative platform. For more information, please visit https://www.equitymultiple.com/.

Gina Relva, VP of Public Relations Gina.Relva@marcusmillichap.com 510-999-1284

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