Marcus & Millichap Buys LMI Capital

Marcus & Millichap has acquired Houston-based brokerage firm LMI Capital. The acquisition expands Marcus & Millichap’s capital advisory platform. The terms of the acquisition deal were not disclosed.

LMI Capital is a 10-person brokerage team specializing in investment sales, financing, research and advisory services, and it has an impressive track record. In the last three years, the firm has closed $1.2 billion in transactions. As a Houston-based company, the firm is focused in the Southwest, and while they work across asset classes, LMI has a strong reputation for providing multifamily capital solutions through Fannie Mae and Freddie Mac.

The acquisition is a key step in the expansion of Marcus & Millichap’s capital advisory platform. As part of the expansion, the firm also hired five originators and an additional five key support team members to our growing financing roster. Jamie Mullin, a principal at LMI said that the new partnership was mutually beneficial. “We value our client relationships greatly and the level of repeat business we originate reinforces the strength of those relationships. Finding a like-minded platform with the financial power to help LMI grow was extremely important to us and we believe we have found a perfectly aligned partner in MMI,” Mullin said in a statement.

Marcus & Millichap has been focused on expanding its capital market reach. In October, the firm acquired Mission Capital, a capital markets advisor specializing in the sale of loans and consultative/due diligence services as well as debt and equity placement across all property types. The acquisition added 40 capital markets professionals to Marcus & Millichap’s team, including offices in New York, Florida, Texas and California.

Overall, Marcus & Millichap has been actively expanding its market reach. Last year, the firm expanded in Canada with the acquisition of Form Real Estate Advisors, a brokerage and advisory services firm based in Vancouver, British Columbia.