CLEVELAND—Marcus & Millichap's Institutional Property Advisors division, which specializes in serving institutional and major private real estate investors, has IPA Midwest-Multifamily. Senior directors Michael Barron and Daniel Burkons and director Joshua Wintermute will lead the new group.
“The Midwest has continued to emerge as a favorable investment market due to its overall stability and generally higher yields compared to that of the coastal markets,” Burkons says. “Expanding the firm's IPA brand in this part of the country will not only enable institutional clients to leverage our team's specialization and experience in the region, but also provide our major private clients with greater access to institutional inventory and resources.”
Burkons and his colleagues opened Marcus & Millichap's Cleveland office 15 years ago and have since expanded their brokerage business throughout Ohio and its neighboring states. They are approaching 42,000 apartment units sold across 14 states, totaling over $1.8 billion.
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Paul Bubny
Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.
