Marcus & Millichap Inc. has acquired Metropolitan Capital Advisors, a commercial real estate finance intermediary in Dallas. Terms of the deal were not disclosed.
Metropolitan Capital, which specializes in arranging debt and equity for property owners and developers, will join Marcus & Millichap Capital Corp., a subsidiary of the Calabasas brokerage that provides financing for commercial real estate projects.
The acquired firm will remain in Dallas.
“MCA’s nearly 30-year track record of providing financing solutions to a broad spectrum of real estate investors, as well as excellent client and lender relationships, will add significant value,” Marcus & Millichap Chief Executive Hessam Nadji said in a statement.
He specified the addition of MCA principals Sunny Sajnani and Todd McNeill will be particularly valuable for Marcus & Millichap.
“Sunny and Todd have built a high-quality brand focused on personal relationships and the delivery of custom capital markets solutions. This commitment to customer service dovetails with our high standards and core values and will be highly synergistic with our excellent MMCC and investment sales teams in Dallas,” Nadji added.
Shares of Marcus & Millichap (MMI) closed Wednesday down $1.79, or 6.6 percent, at $25.31 on the New York Stock Exchange.