Marcus & Millichap inks deal to acquire multifamily lender
Commercial brokerage to fold in Eisendrath Finance as advisory division
Marcus & Millichap, a commercial real estate brokerage based in Calabasas, has acquired a Hidden Hills firm led by veteran broker Brian Eisendrath.
Marcus & Millichap acquired Eisendrath Finance Group in a merger that puts Brian Eisendrath in charge of the company’s Institutional Property Advisors division, according to the San Fernando Valley Business Journal. Terms of the deal were not disclosed..
Eisendrath Finance, which specializes in multifamily transaction loans, has since 2005 closed more than 1,000 deals, valued at more than $35 billion.
In the past three years, Eisendrath originated more than $8 billion in real estate agency debt.
“Brian’s capital markets expertise and exceptional origination track record, especially on the agency debt side, will be instrumental in augmenting IPA’s overall services and growth,” said Hessam Nadji, CEO of Marcus & Millichap, in a statement.
Marcus & Millichap, a leading commercial real estate firm focusing on sales, financing, research, and advisory services founded in 1971, has more than 80 offices in North America, including 12 offices in Southern California.
The publicly traded company made $43.4 billion in recently closed deals, including $10.8 billion in California, according to its website. The value of its current commercial real estate listings is $14.5 billion.
The brokerage firm grew through 2020 and soared across multiple sectors last year. In the Tri-State market of New York, New Jersey and Connecticut, it saw a 52 percent boost in sales.
In 2020, it acquired Mission Capital Advisors, a New York-based debt and equity brokerage,, for undisclosed terms.
Shares of Marcus & Millichap (MMI) have risen 29 percent to nearly $49 per share on the NYSE since the same period last year, according to Yahoo Finance. The firm has a market cap of $1.9 billion.
Eisendrath said he’s thrilled to join Marcus & Millichap as executive managing director of its Institutional Property Advisors, specializing in multifamily debt, equity and capital markets advisory services.
“My goal is to de-commoditize capital markets services, and I am excited to join forces with IPA,” Eisendrath said in a statement. “Our collective ability to provide deal flow and capital through the collaborative culture that IPA has built will differentiate us in the marketplace.”
[SFVBJ] — Dana Bartholomew