Marcus & Millichap sets terms for $90 million IPO


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Marcus & Millichap, a leading national brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services, announced terms for its IPO on Monday. The Calabasas, CA-based company plans to raise $90 million by offering 6.0 million shares (45% insider) at a price range of $14 to $16. At the midpoint of the proposed range, Marcus & Millichap would command a market value of $531 million.

Marcus & Millichap, which was founded in 1971 and booked $414 million in sales for the 12 months ended June 30, 2013, plans to list on the NYSE under the symbol MMI. Marcus & Millichap initially filed confidentially on June 14, 2013. Citi and Goldman Sachs are the joint bookrunners on the deal.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: News Headlines , IPOs

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