Marcus & Millichap Inc. announced Friday that its financing subsidiary, Marcus & Millichap Capital Corp., has entered into a strategic alliance with M&T; Realty Capital Corp. to enhance financing options for its clients.
According to the Calabasas-based real estate brokerage, the alliance will provide clients increased access to M&T; Realty Capital’s multifamily agency financing through a streamlined process that will include dedicated resources, tools and expansive lending capacity. The partnership is the latest move in Marcus & Millichap’s ongoing expansion after the brokerage’s acquisition of Mission Capital a year ago and LMI Capital last December.
The deal includes a preferred stock investment in M&T; and the ability for Marcus & Millichap to indemnify M&T; for 50 percent of the credit risk losses for certain loans originated by through M&T;’s Fannie Mae platform.
M&T; Realty Capital, a subsidiary of M&T; Bank Corp., handles Fannie Mae loans and serves as a Freddie Mac multifamily lender for conventional and targeted affordable housing loans.
Shares of Marcus & Millichap (MMI) closed down 53 cents, or -1.2 percent, to $43.32 on the New York Stock Exchange, while the Dow closed down a fraction of a percent.
