US Marcus & Millichap Acquires Dallas Finance Firm

Main Photo: The Pines at Lake Isabella, Michigan…one of the many properties that Marcus & Millichip have on their books

Date: April 2020

Location: California based Marcus and Millichap with 82 offices across the US and Canada

Name: Marcus and Millichap

Seller: Metropolitan Capital Advisors

Buyer: Commercial property brokerage Marcus & Millichap, with a strong acivity in hotels, has acquired Metropolitan Capital Advisors, a Dallas-based commercial real estate finance firm. Led by principals Sunny Sajnani and Todd McNeill, the company specialises in arranging debt and equity financing on behalf of developers, investors and owners across the country, with a focus on Texas and the Southwest.

MCA’s team of 18, which also includes professionals, analysts and support staff, will integrate with Marcus & Millichap Capital Corp., the NYSE-listed firm’s finance arm. Through the acquisition, Calabasas, California based Marcus & Millichap adds to a platform that included 2,021 investment sales and financing professionals across 82 offices in the U.S. and Canada as of year-end 2019.

Sajnani and McNeill “have built a phenomenal organisation and culture and have a great local reputation as well as a regional reputation, that we heard about through some local relationships and overlap with clients,” Hessam Nadji, president & CEO of Marcus & Millichap, noted to Commercial Property Executive. “It became a very natural, organic discussion that took place over the last several months.”

MCA, which has completed more than $16 billion in transactions since it was founded in 1992, advises on construction loans, mezzanine debt and joint venture equity investments. The company chalked up more than $650 million of debt and equity transactions in 2019 across a range of property types, including multifamily, retail, industrial and office.

Marcus & Millichap already has a major market presence in Texas through its investment brokerage operations in Dallas, Fort Worth, Houston, Austin and San Antonio, with Senior Vice President Tim Speck leading the company’s Texas division. Marcus & Millichap also has a top finance team led by Farhan Kabani out of the Dallas office.

In the last 18 months, Marcus & Millichap has acquired six groups and companies, including the addition of multifamily sales brokers Shelton Granade, Luke Wickham and Justin Basquill in Orlando, Fla., in January, along with other moves in the U.S. and Canada.

“We are continuing to forge ahead with strategic acquisitions, strategic hiring, even despite the market disruption and the economic shock that we’re all absorbing because of the fact that we really believe in the long term,” Nadji said.

THPT Comment: Interesting to see a mega-hotel broker moving positively. M&M currently have just shy of 200 hotels and golf resorts on their books for sale.

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