Marcus & Millichap Acquires Houston Finance Company

Marcus & Millichap Inc. has acquired Houston-based LMI Capital.

Financial terms of the acquisition by the Calabasas-based real estate brokers were not disclosed.

Founded in 1999, LMI arranges debt and equity capital across all property types, including multifamily, industrial, retail, office, self-storage and hospitality.

The 10-person team at LMI has completed more than $1.2 billion in finance transactions during the past three years. The company has a specialty in Fannie Mae and Freddie Mac loan arrangements, according to a Marcus & Millichap statement.

“LMI’s track record of repeat business with their clients and compatibility with our existing MMCC (Marcus & Millichap Capital Corp.) and investment sales professionals were particularly attractive to us,” Marcus & Millichap Chief Executive Hessam Nadji said in a statement.

Marcus & Millichap (MMI) announced the acquisition last week. Shares of Marcus & Millichap closed Monday down 8 cents, or a fraction of a percent, to $37.58 on the New York Stock Exchange.