Marcus & Millichap, Inc. Completes Acquisition of Pinnacle Financial Group
CALABASAS, Calif.--(BUSINESS WIRE)-- Marcus & Millichap, Inc. (the “Company”, “Marcus & Millichap”, “MMI”) (NYSE: MMI), a leading national brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services, today announced it has closed the previously communicated asset acquisition of Pinnacle Financial Group, Inc., a commercial real estate mortgage brokerage and servicing firm based in Cleveland, Ohio.
Formed in 1990, Pinnacle was one of the largest independently owned financing companies in the Midwest. The integration of its 17-person team will expand the mortgage brokerage capabilities of Marcus & Millichap Capital Corporation (MMCC) in that region. The Company believes that MMI’s sales force will gain crossover business opportunities given Pinnacle’s long-standing relationships with major Midwestern owners and lenders.
About Marcus & Millichap, Inc.
Marcus & Millichap, Inc. is a leading national brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services. As of March 31, 2018, the Company had over 1,760 investment sales and financing professionals in 78 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 2,085 transactions for the first three months ended March 31, 2018, with a sales volume of approximately $9.8 billion. For additional information, please visit www.MarcusMillichap.com.
Evelyn Infurna, 203-682-8265
Source: Marcus & Millichap, Inc.
Released June 4, 2018