Search company, investor...

Predict your next investment

Marcus & Millichap company logo
Corporation
marcusmillichap.com

Partners & Customers

3

About Marcus & Millichap

Marcus & Millichap is a national commercial real estate brokerage firm specializing in real estate investment services with nearly 1500 investment professionals.

Headquarters Location

23975 Park Sorrento Suite 400

Calabasas, California, 91302,

United States

818-212-2250

Are you an investor?
Submit your portfolio details now to be considered in our investor rankings.

Latest Marcus & Millichap News

Foreclosure Auction Slated For Sandy Springs Apartment Complex

Aug 23, 2023

Grace Apartment Homes in Sandy Springs Orec Structured Finance Co. is foreclosing on a $47.5M loan for Grace Apartment Homes Sandy Springs, a 250-unit, garden-style complex off Roswell Road in Sandy Springs , according to a public notice filed with Fulton County . MSC Properties purchased the property, previously called Celebration at Sandy Springs, in 2021 for $58M from an LLC registered to Illinois-based Oak Realty Group, according to the  Reonomy  property database. Orec provided MSC with a $47.5M conventional loan that was set to mature in January. The 10-building property at 7000 Roswell Road is scheduled for a foreclosure auction on Sept. 5 on the Fulton County courthouse steps. But MSC partner Macky Pannu said his firm may be on the verge of saving it from being sold. "The property will not be foreclosed as we're working with our lender to come to an agreement and are pretty close," Pannu told Bisnow in an email Wednesday. MSC Properties owns two other complexes in Metro Atlanta, according to its website. So far, distressed sales or foreclosures in Metro Atlanta’s apartment market have been rare. But as interest rates ticked up over the past year, late-cycle investors — especially those with floating-rate debt or loans maturing in the next year — could find themselves with assets difficult to refinance, said Ladson Haddow , managing partner with Haddow & Co. Real Estate Consultants. That could push apartment values down and trigger more distress. "Ultimately it comes down to if you have to sell or not. If you don't have to sell, you're not going to right now,” Haddow said. “But if you're forced to sell because you have debt coming due, that's what’s likely to trigger these lower values." For the past five years, investors flocked to Atlanta, buying up properties with cheap debt before flipping them for high prices as the area’s rents and occupancies surged, Haddow said. The ability to quickly sell a complex has dried up as banks shied away from drafting new loans as they wrestle with portfolios teeming with commercial real estate loans. "It's kind of like hot potato. Who's going to be left holding the bag when the music stops?" he said. "I think there's going to be more of these. There's going to be some value resets." While metro Atlanta landlords continued to push up rents this year, a slowing job market, especially in the tech sector, plus a record number of new units coming online this year has pushed the region's vacancy rate to 7.2% in the second quarter, the highest in a decade, according to Marcus & Millichap . Developers were underway with more than 42,000 units as of the second quarter, a third of which are set to deliver this year. The increased supply has hampered developers' ability to raise rents; rents grew 3.2% year-over-year in the second quarter, according to Marcus & Millichap, after increasing by more than 20% in 2021. Despite the rising interest rate environment, United Brokers America President Maria King said she hasn't seen distressed selling at this point in the Southeast. Private capital and out-of-state investors continue to scout for apartment buys in Metro Atlanta, especially in the suburbs where political blowback is restraining the supply of apartments — including in Sandy Springs . “I’ve been waiting to see if [a wave of distress] is going to happen,” King said. “But there are still people trying to test the market, and you still have some buyers out there.” Distress is mounting across the Sun Belt, however. Roughly $8B in multifamily loans are maturing in the second half of 2023, according to Morningstar Credit. Trepp Senior Managing Director Manus Clancy  told Bisnow this month  the “epicenter of concern” are those who bought value-add properties with floating-rate debt at the peak of the market in 2021 and the first half of 2022. Contact Jarred Schenke at jarred@bisnow.com

Marcus & Millichap Acquisitions

7 Acquisitions

Marcus & Millichap acquired 7 companies. Their latest acquisition was Eisendrath Finance Group on January 13, 2022.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

1/13/2022

$99M

Acquired

2

12/21/2020

Subscribe to see more

$99M

Subscribe to see more

10

7/24/2020

Debt

Subscribe to see more

$99M

$99M

Subscribe to see more

10

4/1/2020

Subscribe to see more

$99M

Subscribe to see more

10

10/8/2019

Subscribe to see more

$99M

Subscribe to see more

10

Date

1/13/2022

12/21/2020

7/24/2020

4/1/2020

10/8/2019

Investment Stage

Debt

Companies

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

Valuation

$99M

$99M

$99M

$99M

$99M

Total Funding

$99M

Note

Acquired

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

Sources

2

10

10

10

10

Marcus & Millichap Partners & Customers

3 Partners and customers

Marcus & Millichap has 3 strategic partners and customers. Marcus & Millichap recently partnered with M&T Realty Capital Corporation on October 10, 2021.

Date

Type

Business Partner

Country

News Snippet

Sources

10/7/2021

Vendor

United States

Marcus & Millichap : Capital Corporation Enters Strategic Alliance with M&T Realty Capital Corporation

Denner was instrumental in co-designing the partnership with Michael Berman , President and CEO of M&T Realty Capital , along with Beekman Advisors , who advised Marcus & Millichap on the alliance .

2

1/1/2021

Partner

United States

Subscribe to see more

Subscribe to see more

10

7/29/2019

Vendor

United States

Subscribe to see more

Subscribe to see more

10

Date

10/7/2021

1/1/2021

7/29/2019

Type

Vendor

Partner

Vendor

Business Partner

Country

United States

United States

United States

News Snippet

Marcus & Millichap : Capital Corporation Enters Strategic Alliance with M&T Realty Capital Corporation

Denner was instrumental in co-designing the partnership with Michael Berman , President and CEO of M&T Realty Capital , along with Beekman Advisors , who advised Marcus & Millichap on the alliance .

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

Sources

2

10

10

Marcus & Millichap Team

10 Team Members

Marcus & Millichap has 10 team members, including , .

Name

Work History

Title

Status

Paul D. Davis

Founder

Current

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

Name

Paul D. Davis

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

Work History

Title

Founder

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

Status

Current

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

Loading...

CBI websites generally use certain cookies to enable better interactions with our sites and services. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. You can read more about your cookie choices at our privacy policy here. By continuing to use this site you are consenting to these choices.