Latest news with #Marcus&Millichap
Business Wire
3 hours ago
- Business
- Business Wire
Marcus & Millichap Capital Corporation Secures $91M in Construction Financing for Two Multifamily Projects in Southwest Florida
NAPLES, Fla.--(BUSINESS WIRE)-- Marcus & Millichap Capital Corporation (MMCC), a leading provider of commercial real estate capital markets financing solutions, has arranged $91.4 million in financing for the construction of two multifamily assets in Naples, Florida: Vintana at Vanderbilt, a 150-unit apartment property, and The Karlyn, a 159-unit, active adult community for residents aged 55 and older. Marcus & Millichap Capital Corporation Secures $91M in Construction Financing for Two Multifamily Projects in Southwest Florida Share Gary Sefcik, based in MMCC's Manhattan office, secured the financing. The capital stack includes $78.9 million in senior debt provided by Kayne Anderson and $12.5 million in mezzanine financing from SteepRock Capital on behalf of the sponsor, Roers Companies. Vintana at Vanderbilt, located at 3375 Vanderbilt Beach Road, is adjacent to the Ritz-Carlton golf course and within a short drive of renowned Naples beaches. The Karlyn, at 7576 Immokalee Road, is also near the Gulf Coast shoreline. Both projects are slated for completion in 2027 and will feature high-end finishes and resort-style amenities. 'The financing package demonstrates that lenders remain eager to aggressively pursue Florida multifamily projects when strong sponsorship is combined with a compelling submarket story,' said Sefcik. 'Ranked as the No. 1 place to live in the United States, Naples has high barriers to entry, stringent zoning regulations and limited availability of multifamily-zoned sites.' About Marcus & Millichap Capital Corporation Marcus & Millichap Capital Corporation (MMCC) is a subsidiary of Marcus & Millichap (NYSE:MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada. MMCC provides commercial real estate capital markets financing solutions, including debt, mezzanine financing, preferred and joint venture equity, sponsor equity, loan sales and consultative and due diligence services. In 2024, MMCC closed 1,249 transactions totaling $9.1 billion. To learn more, 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
Los Angeles Times
4 days ago
- Business
- Los Angeles Times
Pegasus Names New EVP, Director of Marketing and Senior Associate of Finance & Strategy
Los Angeles-based Pegasus has announced the appointment of George Azzi as executive vice president, a key addition following his tenure as regional manager of Marcus & Millichap's Los Angeles office, and the first in a trio of strategic new hires. Azzi brings two decades of commercial real estate experience in Los Angeles County, with a proven track record of leading top-performing brokerage teams and executing more than $2 billion in sales across 400+ transactions. At Pegasus, Azzi will lead the firm's advisor growth strategy, overseeing recruitment and professional development while driving performance across the advisory platform. He will also play a key role in expanding service line offerings and broadening asset class coverage as Pegasus deepens its market presence. In addition, Bahram Fattahinia has joined Pegasus as director of marketing, bringing 15 years of experience leading brand and performance marketing across top-tier real estate, hospitality and financial institutions. An extended tenure with Irvine Company helped hone his refined approach to brand stewardship and elevated service, an ethos he will now employ to spearhead the firm's focus on marketing innovation and best-in-class audience engagement. Daniel Kim, newly-appointed senior associate of finance & strategy, will lead corporate FP&A, data analytics and operational systems. With experience in private equity and portfolio management, Kim will also lead the development of Pegasus's strategic planning, growth and financial reporting infrastructure, with a key specialization in leveraging technology. 'Over the past decade, we've pushed relentlessly to build something exceptional at Pegasus, and we've done it with purpose, conviction and a deep commitment to our clients,' said Seth Bell, Pegasus' president. 'We set out to create a firm that would raise the bar in commercial real estate, and today, I can say with confidence that we've done just that, but this is just the beginning. Welcoming George, Bahram and Daniel marks the start of an exciting new chapter. With the collective experience and vision we now have at Pegasus, we're positioned to scale faster, think bigger and lead more boldly than ever before. The future isn't just bright; it's ours to shape.' Information was sourced from Pegasus. Learn more by contacting Darcie@
Business Wire
6 days ago
- Business
- Business Wire
Institutional Property Advisors Brokers Sale of $148M Inland Empire Multifamily Asset, First of its Kind Since 2021
REDLANDS, Calif.--(BUSINESS WIRE)-- Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE:MMI) dedicated to serving the company's institutional clients, announced the $148.4 million sale of The Venue at Orange, a newly built, 328-unit multifamily property in Redlands, California. The sales price equates to $452,439 per unit. Institutional Property Advisors Brokers Sale of $148M Inland Empire Multifamily Asset, First of its Kind Since 2021 'Completed in 2023, The Venue at Orange is a stabilized, best-in-class multifamily asset that achieved a swift and successful lease-up to a tenant base with an average annual household income of $135,000,' said Chris Zorbas, IPA executive managing director investments. 'Affluent renters are increasingly drawn to the high quality of life in the Redlands. Strong demographics and the confluence of high single-family home values, rising interest rates, and demand for low-density living have created ideal conditions for rent growth, low vacancy, and healthy multifamily operations,' said Kevin Green IPA executive managing director investments. 'The Venue at Orange is the first high-quality, stabilized multifamily asset to trade hands in the Inland Empire since 2021.' Zorbas, Green, and IPA's Joseph Grabiec, Kyle Pinkalla, Alexander Garcia Jr., and Gregory Harris, represented the seller and developer of the property, LuxView Properties, and procured the buyer, Sentinel Real Estate Corporation. The property is situated near major retail and employers including Brookside Plaza, Downtown Redlands, Loma Linda Hospital, Loma Linda University, Amazon, Costway, Clorox, and AutoZone. The property also benefits from connectivity to Interstate 10, State Route 210/Foothill Freeway, and three nearby Metrolink stations give residents access to San Bernardino, Ontario, Riverside, and Orange County. The Venue at Orange comprises seven three-story buildings with gated access and resort-style amenities, including a full-size swimming pool and spa, fitness center, co-working spaces, lounge, and outdoor barbecue area. Apartment interiors have nine-foot ceilings, stainless-steel appliances, quartz countertops, walk-in closets, and a private patio or balcony. About Institutional Property Advisors (IPA) Institutional Property Advisors (IPA) is a division of Marcus & Millichap (NYSE: MMI), a leading commercial real estate services firm in North America. IPA's combination of real estate investment and capital markets expertise, industry-leading technology, and acclaimed research offers customized solutions for the acquisition, disposition and financing of institutional properties and portfolios. 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 LuxView Properties was established 20 years ago and specializes in ground-up multifamily development, ground-up coastal residential development, land assemblage and entitlement, and heavy rehab multifamily and commercial developments in Southern California.
Business Wire
04-08-2025
- Business
- Business Wire
$64 Million in Construction Financing Secured by Marcus & Millichap Capital Corporation for Rancho Cucamonga Mixed-Use Development
RANCHO CUCAMONGA, Calif.--(BUSINESS WIRE)-- Marcus & Millichap Capital Corporation (MMCC), a leading provider of commercial real estate capital markets financing solutions, arranged $64 million in financing for the construction of a mixed-use multifamily, retail and commercial development project located at 8500 Haven Avenue in Rancho Cucamonga, California. $64 Million in Construction Financing Secured by Marcus & Millichap Capital Corporation for Rancho Cucamonga Mixed-Use Development Share Ron Balys, senior managing director in MMCC's Orange County office, secured the financing with Parkview Financial on behalf of a private developer. 'Over the course of six months, we worked closely with our client to thoughtfully prepare this mid-construction financing for market,' said Balys. 'The transaction came together seamlessly, thanks to prudent underwriting and an exceptionally well-organized borrower team. In today's market, successful closings hinge on strong collaboration and this deal was a perfect example of that alignment in action.' The full project will feature six residential buildings, a mixed-use building with 248 apartment units and ground-floor commercial space, and a retail building. Planned apartment amenities include a swimming pool, fitness center, pickleball court, clubhouse, on-site laundry, and landscaped outdoor areas. About Marcus & Millichap Capital Corporation Marcus & Millichap Capital Corporation (MMCC) is a subsidiary of Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada. MMCC provides commercial real estate capital markets financing solutions, including debt, mezzanine financing, preferred and joint venture equity, sponsor equity, loan sales and consultative and due diligence services. In 2024, MMCC closed 1,249 transactions totaling $9.1 billion. To learn more, 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
11-07-2025
- Business
- Yahoo
Southern Door County resort and marina sold to new owner who plans upgrades
A popular, longstanding resort and marina in Southern Door County is under new ownership who say they are planning significant upgrades to the place. Wave Pointe Marina & Resort was sold for $2.15 million to a company listed as 3600 County Hwy CC Sturgeon Bay, LLC, according to the real estate transaction record on the Wisconsin Department of Revenue website. A news release from Marcus & Millichap, the commercial real estate brokerage firm that handled the sale, said the new owner, whose address is in Oshkosh, plans to be more actively involved in the resort than its previous owner, Ohio-based The Cadle Company II, Inc., with updates and changes in the works for the 25-year-old property on the shore of Little Sturgeon Bay on the west side of the Door Peninsula. Wave Pointe's new manager is Nancy Bartz, an experienced manager of other Door County resorts, who also said in a video interview on the Let's Go Door County Facebook page that improvements are on the way. 'This was a rare chance to acquire a high-quality waterfront asset from an institutional absentee owner in the highly desirable Door County market,' Jon Ruzicka, managing director investments for Marcus & Millichap, said in the news release. 'Properties of this caliber seldom come to market, making it a particularly notable acquisition. With more engaged ownership now in place, the property is poised for thoughtful updates that will enhance the guest experience and optimize operations.' Perhaps the most immediate and obvious change is in the resort's restaurant. The former Gilmo's Bar & Bistro is now Harbor House Waterfront Bar & Grill, and Wave Pointe's Facebook page says a new menu is on the horizon. Located at 3600 County CC, Sturgeon Bay (town of Gardner), Wave Pointe features 24 one- and two-bedroom suites with full kitchens, fireplaces, whirlpool tubs and private balconies, along with a 124-slip marina. Resort amenities include a heated outdoor pool, renovated indoor hot tub and sauna, boater's lounge, onsite restaurant and bar, and retail shop. For more information, call 920-824-5440 or visit This article originally appeared on Green Bay Press-Gazette: Door County waterfront resort sold to new owner who plans upgrades
