Changing hands with all kinds of ins-and-outs
Marcus & Millichap is acquiring Mission Capital Advisors multiple sources told Commercial Observer. . . Sources said that the impetus behind the merger was that the two firms saw synergies between their loan origination and loan sales businesses, with Mission seeking to tap into Marcus & Millichap’s local bank knowledge.
Officials at Mission Capital didn’t immediately return requests for comment.
A representative for Marcus & Millichap declined to comment.
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Marcus & Millichap Acquiring Mission Capital Advisors: SourcesBy Mack Burke and Cathy Cunningham July 24, 2020 12:00 pm
“Given the uncertainty regarding [COVID-19] recovery timeframes, we are executing necessary expense reductions to keep [the firm] financially strong. We are confident that our nearly 50-year history to persevere through a multitude of historical market disruptions will serve us well as we navigate the current situation,” Marcus & Millichap president and CEO Hessam Nadji said in commentary included in the firm’s first quarter SEC filings.
“We are particularly supported by a strong balance sheet and liquidity, not only to execute our business but to capitalize on potential acquisition opportunities.”
Over the last 18 months, Mission has seen a couple of its longtime debt and equity professionals depart the company.
> Former managing director Ari Hirt left last summer to join debt and equity brokerage powerhouses Aaron Appel, Keith Kurland and Jonathan and Adam Schwartz at their newly-formed operation, AKS Capital Partners. He then joined them in their move to real estate financier Walker & Dunlop in February, following AKS’ sale to CEO Willy Walker’s firm.
> Mission also saw the departure of principal Stephen Emery in June 2019, who had been with the company for over 17 years. Emery currently serves as a partner and board member at online commercial real estate investing platform EquityMultiple as well as at Supergoop!, a skincare and sunscreen brand
> And on the loan sale side, two of its top professionals, Will Sledge —who’d been with the firm for 17 years — and Kyle Kaminski left Mission Capital in May for new roles at JLL, as reported by Commercial Real Estate Direct.
> Luis Vergara, who focused on residential loans sales, left in October 2019 for a role at HouseCanary.
Marcus & Millichap is acquiring Mission Capital Advisors multiple sources told Commercial Observer. . . Sources said that the impetus behind the merger was that the two firms saw synergies between their loan origination and loan sales businesses, with Mission seeking to tap into Marcus & Millichap’s local bank knowledge.
Officials at Mission Capital didn’t immediately return requests for comment.
A representative for Marcus & Millichap declined to comment.
_________________________________________________________________________
Marcus & Millichap Acquiring Mission Capital Advisors: SourcesBy Mack Burke and Cathy Cunningham July 24, 2020 12:00 pm
“Given the uncertainty regarding [COVID-19] recovery timeframes, we are executing necessary expense reductions to keep [the firm] financially strong. We are confident that our nearly 50-year history to persevere through a multitude of historical market disruptions will serve us well as we navigate the current situation,” Marcus & Millichap president and CEO Hessam Nadji said in commentary included in the firm’s first quarter SEC filings.
“We are particularly supported by a strong balance sheet and liquidity, not only to execute our business but to capitalize on potential acquisition opportunities.”
Over the last 18 months, Mission has seen a couple of its longtime debt and equity professionals depart the company.
> Former managing director Ari Hirt left last summer to join debt and equity brokerage powerhouses Aaron Appel, Keith Kurland and Jonathan and Adam Schwartz at their newly-formed operation, AKS Capital Partners. He then joined them in their move to real estate financier Walker & Dunlop in February, following AKS’ sale to CEO Willy Walker’s firm.
> Mission also saw the departure of principal Stephen Emery in June 2019, who had been with the company for over 17 years. Emery currently serves as a partner and board member at online commercial real estate investing platform EquityMultiple as well as at Supergoop!, a skincare and sunscreen brand
> And on the loan sale side, two of its top professionals, Will Sledge —who’d been with the firm for 17 years — and Kyle Kaminski left Mission Capital in May for new roles at JLL, as reported by Commercial Real Estate Direct.
> Luis Vergara, who focused on residential loans sales, left in October 2019 for a role at HouseCanary.