Latest news with #IPACapitalMarkets
Yahoo
2 days ago
- Business
- Yahoo
Marcus & Millichap's IPA Capital Markets Division Arranges a $77.3 Million Non-Recourse Industrial Construction Loan in Savannah, Georgia
SAVANNAH, Ga., June 13, 2025--(BUSINESS WIRE)--IPA Capital Markets, a division of Marcus & Millichap (NYSE:MMI) specializing in capital markets services for major private and institutional clients, has arranged $77.3 million in financing for the construction of Central Port Logistics Tract 3, an industrial property located in Savannah, Georgia. The financing was secured by Dallas-based IPA Capital Markets' executive managing director Sunny Sajnani and associate director Travis Headapohl, on behalf of their client, Capital Development Partners (CDP) based in Savannah. Sajnani stated: "The level of lender interest for this project is a testament to Capital Development Partners and their ability to develop high quality logistics and distribution facilities in desired port markets. A national life company embraced the opportunity for this attractive financing and delivered competitive terms. This project provided a financing opportunity that offered scale, backed by the strength of the Port of Savannah." Central Port Logistics Tract 3 will consist of three speculative industrial buildings totaling 1,222,560 rentable square feet near the Port of Savannah. CDP anticipates the project will be fully leased and tenant-occupied by November 2026. These buildings are part of the larger Central Port Logistics Center, where CDP has delivered large-scale industrial projects, including a 982,800-square-foot building fully leased to Plastic Express, a 1,456,000-square-foot facility nearing stabilization, and two recently delivered 150,000-square-foot flex warehouses. "The non-recourse, life company construction loan will provide funds to complete the vertical construction as well as lease-up of the project," Sajnani said. About IPA Capital Markets IPA Capital Markets is a division of Marcus & Millichap (NYSE: MMI). IPA Capital Markets provides major private and institutional clients with commercial real estate capital markets financing solutions, including debt, mezzanine financing, preferred and joint venture equity, and sponsor equity. For more information, please visit 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. Marcus & Millichap closed 7,836 transactions with a sales volume of approximately $49.6 billion in 2024. The company had 1,712 investment sales and financing professionals in more than 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate at year end. For additional information, please visit View source version on Contacts Gina Relva, VP of Public Relations Sign in to access your portfolio
Business Wire
2 days ago
- Business
- Business Wire
Marcus & Millichap's IPA Capital Markets Division Arranges a $77.3 Million Non-Recourse Industrial Construction Loan in Savannah, Georgia
SAVANNAH, Ga.--(BUSINESS WIRE)-- IPA Capital Markets, a division of Marcus & Millichap (NYSE:MMI) specializing in capital markets services for major private and institutional clients, has arranged $77.3 million in financing for the construction of Central Port Logistics Tract 3, an industrial property located in Savannah, Georgia. The financing was secured by Dallas-based IPA Capital Markets' executive managing director Sunny Sajnani and associate director Travis Headapohl, on behalf of their client, Capital Development Partners (CDP) based in Savannah. Marcus & Millichap's IPA Capital Markets Division Arranges a $77.3 Million Non-Recourse Industrial Construction Loan in Savannah, Georgia Share Sajnani stated: 'The level of lender interest for this project is a testament to Capital Development Partners and their ability to develop high quality logistics and distribution facilities in desired port markets. A national life company embraced the opportunity for this attractive financing and delivered competitive terms. This project provided a financing opportunity that offered scale, backed by the strength of the Port of Savannah.' Central Port Logistics Tract 3 will consist of three speculative industrial buildings totaling 1,222,560 rentable square feet near the Port of Savannah. CDP anticipates the project will be fully leased and tenant-occupied by November 2026. These buildings are part of the larger Central Port Logistics Center, where CDP has delivered large-scale industrial projects, including a 982,800-square-foot building fully leased to Plastic Express, a 1,456,000-square-foot facility nearing stabilization, and two recently delivered 150,000-square-foot flex warehouses. 'The non-recourse, life company construction loan will provide funds to complete the vertical construction as well as lease-up of the project,' Sajnani said. About IPA Capital Markets IPA Capital Markets is a division of Marcus & Millichap (NYSE: MMI). IPA Capital Markets provides major private and institutional clients with commercial real estate capital markets financing solutions, including debt, mezzanine financing, preferred and joint venture equity, and sponsor equity. For more information, please visit 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. Marcus & Millichap closed 7,836 transactions with a sales volume of approximately $49.6 billion in 2024. The company had 1,712 investment sales and financing professionals in more than 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate at year end. For additional information, please visit
Yahoo
26-03-2025
- Business
- Yahoo
Marcus & Millichap's IPA Capital Markets Division Continues Canadian Expansion
TORONTO, March 26, 2025--(BUSINESS WIRE)--IPA Capital Markets, a division of Marcus & Millichap (NYSE:MMI) specializing in capital markets services for major private and institutional clients, announced today its continued expansion in Canada with the hiring of real estate finance industry veteran Onorio Lucchese. Lucchese joins as senior managing director in the firm's Toronto office. He is responsible for capital raising, facilitating cross-border transactions, representing Canadian investors looking to invest in the United States, and assisting international investors in finding real estate opportunities across Canada. "With his extensive background and strong relationships established over many years, Onorio will further the firm's continued growth in Canada and enhance our presence in the North American capital markets," said Evan Denner, executive vice president and head of business, Marcus & Millichap Capital Corporation. "His strong focus on raising capital, facilitating cross-border transactions, and representing Canadian investors looking to invest domestically and in the United States, coupled with assisting international investors in finding commercial real estate opportunities across Canada, will be invaluable to our clients." Lucchese brings over two decades of experience in real estate, including investment banking, strategic advisory, mergers and acquisitions, and equity and debt capital financing for numerous companies in public and private sectors. His experience spans every asset class, including multifamily, industrial, retail, office, self-storage, hospitality, and senior housing. Prior to joining IPA Capital Markets, Lucchese served as a senior investment banker at Raymond James and held senior positions with Brookfield Financial, BMO Capital Markets, and TD Securities. Over the course of his career, Lucchese has been involved in over $20 billion in real estate transactions, including cross-border financings and initial public offerings. Lucchese is a registered professional engineer of Ontario and spent five years as a consulting engineer for the land development industry. About IPA Capital Markets IPA Capital Markets provides major private and institutional clients with commercial real estate capital markets financing solutions, including debt, mezzanine financing, preferred and joint venture equity, and sponsor equity. IPA Capital Markets is a division of Marcus & Millichap Capital Corporation and Marcus & Millichap Capital Corporation Canada Inc. (collectively, "MMCC"), subsidiaries of Marcus & Millichap (NYSE: MMI). For more information, please visit 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. Marcus & Millichap closed 7,836 transactions with a sales volume of approximately $49.6 billion in 2024. The company had 1,712 investment sales and financing professionals in more than 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate at year end. For additional information, please visit View source version on Contacts Gina Relva, VP of Public Relations Sign in to access your portfolio
Yahoo
27-01-2025
- Business
- Yahoo
Marcus & Millichap's IPA Capital Markets Secures $79 Million Construction Loan for Transformation of Iconic San Antonio Landmark
SAN ANTONIO, January 28, 2025--(BUSINESS WIRE)--IPA Capital Markets, a division of Marcus & Millichap (NYSE:MMI), specializing in capital markets services for major private and institutional clients, announced today the successful closing of a $79 million construction loan for El Tropicano Hotel, a historic landmark property on San Antonio's River Walk in San Antonio, Texas. Jordan Ray, James Matheny, Steven Buchwald and Rachael Krawiecki of IPA Capital Markets secured the financing on behalf of Trestle Studio, a national lifestyle developer. Fortress Investment Group provided the financing. "This complex transaction, which involved navigating state and federal historic tax credits, will fund a comprehensive renovation of the property," said Ray. "This financing was a truly collaborative effort, requiring innovative thinking and a deep understanding of the market. We're proud to have partnered with Trestle Studio to secure the funding they needed to transform this landmark asset into a world-class destination. The renovation is expected to create hundreds of construction jobs and generate millions of dollars in economic activity for the city of San Antonio." Originally constructed in 1962, the property was acquired by Trestle Studio in December 2023. "Following renovation, El Tropicano is slated to be a modern urban resort featuring 315 guest rooms, an 8,065-square-foot pool deck—the largest in San Antonio—over 16,000 square feet of event space and signature food and beverage outlets," added Ray. "Additional amenities will include a 5,000-square-foot fitness center and spa. The project will also involve significant exterior improvements, including a new staircase connecting the hotel to the River Walk and a deck overlooking the river." About IPA Capital Markets IPA Capital Markets is a division of Marcus & Millichap (NYSE: MMI). IPA Capital Markets provides major private and institutional clients with commercial real estate capital markets financing solutions, including debt, mezzanine financing, preferred and joint venture equity, and sponsor equity. For more information, please visit About Marcus & Millichap, Inc. (NYSE: MMI) Marcus & Millichap, Inc. is a leading national brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services. As of December 31, 2023, the Company had 1,783 investment sales and financing professionals in over 80 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 our clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit View source version on Contacts Gina Relva, VP Public Relations Sign in to access your portfolio
Associated Press
27-01-2025
- Business
- Associated Press
Marcus & Millichap's IPA Capital Markets Secures $79 Million Construction Loan for Transformation of Iconic San Antonio Landmark
IPA Capital Markets, a division of Marcus & Millichap (NYSE:MMI), specializing in capital markets services for major private and institutional clients, announced today the successful closing of a $79 million construction loan for El Tropicano Hotel, a historic landmark property on San Antonio's River Walk in San Antonio, Texas. Jordan Ray, James Matheny, Steven Buchwald and Rachael Krawiecki of IPA Capital Markets secured the financing on behalf of Trestle Studio, a national lifestyle developer. Fortress Investment Group provided the financing. 'This complex transaction, which involved navigating state and federal historic tax credits, will fund a comprehensive renovation of the property,' said Ray. 'This financing was a truly collaborative effort, requiring innovative thinking and a deep understanding of the market. We're proud to have partnered with Trestle Studio to secure the funding they needed to transform this landmark asset into a world-class destination. The renovation is expected to create hundreds of construction jobs and generate millions of dollars in economic activity for the city of San Antonio.' Originally constructed in 1962, the property was acquired by Trestle Studio in December 2023. 'Following renovation, El Tropicano is slated to be a modern urban resort featuring 315 guest rooms, an 8,065-square-foot pool deck—the largest in San Antonio—over 16,000 square feet of event space and signature food and beverage outlets,' added Ray. 'Additional amenities will include a 5,000-square-foot fitness center and spa. The project will also involve significant exterior improvements, including a new staircase connecting the hotel to the River Walk and a deck overlooking the river.' About IPA Capital Markets IPA Capital Markets is a division of Marcus & Millichap (NYSE: MMI). IPA Capital Markets provides major private and institutional clients with commercial real estate capital markets financing solutions, including debt, mezzanine financing, preferred and joint venture equity, and sponsor equity. For more information, please visit Marcus & Millichap, Inc. is a leading national brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services. As of December 31, 2023, the Company had 1,783 investment sales and financing professionals in over 80 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 our clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit SOURCE: Marcus & Millichap, Inc. Copyright Business Wire 2025. PUB: 01/27/2025 08:00 PM/DISC: 01/27/2025 08:00 PM
