Marcus & Millichap to Deepen Its Presence in Western Canada
MMI to Acquire Form Real Estate Advisors Inc.
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 that it has entered into a definitive agreement to buy substantially all of the assets of Form Real Estate Advisors Inc., a leading commercial real estate services firm specializing in retail transactions and advisory services based in Vancouver, British Columbia. This acquisition should strengthen Marcus & Millichap’s presence in Western Canada and broadens the Company’s offering. The acquisition is expected to close within the next 90 days.
Form Real Estate Advisors, founded in 2010, has become a leading firm specializing in all aspects of retail real estate brokerage and advisory services with a highly respected brand and top-tier team of eleven real estate professionals including the company’s partners David Morris, Derick Fluker, Jon Buckley and Jack Allpress.
Hessam Nadji, President and CEO of Marcus & Millichap stated, “The acquisition of Form will advance a dual goal of expanding our reach in Canada, particularly in a global market like Vancouver and deepening our expertise and client reach in the retail segment. We were attracted to Form because of their sterling reputation in the market and their core values of integrity, collaboration and a client-centric model. We believe being part of our platform will facilitate growth for their existing business and support our overall expansion in Western Canada.”
David Morris, a Founding Partner of Form also stated, “We’ve accomplished a great deal since founding Form in 2010 and are looking forward to taking our business to the next level with Marcus & Millichap. The Form team prides itself on reputation; delivering excellent advice and service to our clients has been a hallmark in building our business. We are excited to find a like-minded partner in Marcus & Millichap and are motivated to join forces and bring our clients a portfolio of new services and opportunities across Canada and the United States.”
About Form Real Estate Advisors, Inc.
Form Real Estate Advisors was founded in 2010 on the clear and distinguishing principles of integrity, intelligence and teamwork. Form’s unique specialization in retail, along with its reputation for innovative and excellent customer service, quickly helped grow the firm into a market leader in Western Canada. Today, Form’s client list includes many of North America’s top retailers and a highly experienced team that’s expanding across a number of real estate disciplines. In less than 10 years, Form has completed more than 4 million square feet of lease transactions on behalf of Canada’s pre-eminent retailers and landlords and more than $1.2 billion in sale transactions on behalf of real estate investors and developers.
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 June 30, 2019, the Company had over 1,900 investment sales and financing professionals in over 80 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 4,485 transactions for the six months ended June 30, 2019, with a sales volume of approximately $22.8 billion. For additional information, please visit www.MarcusMillichap.com.
Evelyn Infurna, (203) 682-8265
Source: Marcus & Millichap, Inc.
Released August 6, 2019