Two investors in Marcus & Millichap Inc. are selling 4 million shares of stock in the Calabasas commercial real estate brokerage.
Phoenix Investments Holdings LLC and the Marcus Family Foundation are conducting the secondary offering in the company, which went public in an October 2013 IPO that raised $72 million.
The company will not receive any proceeds from the stock sale.
Phoenix also granted underwriters a 30-day option to purchase up to an additional 600,000 shares of common stock.
Citigroup, Barclays and Wells Fargo Securities are joint book-running managers. The securities are being offered under the company’s shelf registration statement previously filed with the Securities and Exchange Commission.
Shares of the brokerage have risen steadily since the IPO pricing of $12. Shares on Wednesday closed down $1, or nearly 3 percent, to $35.43 on the New York Stock Exchange.
American Homes 4 Rent founder and Chairman B. Wayne Hughes has increased his investment in the single-family home landlord.
Hughes purchased 844,130 shares of the Agoura Hills company’s stock at an average price of $16.24 a share on Tuesday. The total value of the transaction was $13.7 million.
American Homes is the second-largest owner of single family home rentals in the nation. It went public in 2013 raising $706 million in an IPO that priced shares at $16.
The real estate investment trust posted quarterly earnings last month of 16 cents a share, missing analysts’ estimate of 17 cents.
Shares on Wednesday closed up 9 cents, or a fraction of a percent, to $16.24 on the New York Stock Exchange.
A commercial printing company is relocating from Santa Monica to an 18,000-square-foot building that traded hands near Van Nuys Airport.
ColorNet Press, which is expanding operations in its new Valley location, is taking space at 6855 Hayvenhurst Ave. The property was purchased for $3.7 million by Kearta LLC in Los Angeles in a deal financed by City National Bank.
The building, which offers 6,000 square feet of office space and two ground-level loading doors, was sold by Van Nuys private investor Gabi Mashal at a price that amounts to $204 a square foot.
NAI Capital’s David Young and Chad Gahr, both senior vice presidents in the Encino office, represented Mashal in the deal.