Marcus & Millichap Files for IPO of Up to $103.5 Million
By Michael Calia
Marcus & Millichap Inc. filed plans for an initial public offering of up to $103.5 million as the commercial real
estate broker looks to expands its business.
The company said it intends to use the proceeds of the offering for general corporate purposes, including for
potential acquisitions of real estate companies.
The move comes amid signs of a rebound in the commercial real estate market.
Founded in 1971, Marcus & Millichap is the top commercial real estate broker in the U.S. based on amount of
transactions over the past decade. Last year, the company, which focuses on private clients and transactions under $10
million, closed more than 6,100 transactions with total volume of about $22 billion, it said.
For the six months ended June 30, the company posted a 14% increase in earnings from the prior-year period, as
brokerage commissions and financing fees increased.
Goldman Sachs & Co. and Citigroup will serve as joint book runners for the IPO, Marcus & Millichap said.
The company has applied to list its shares on the New York Stock Exchange under the ticker symbol "MMI."
Write to Michael Calia at email@example.com
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