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Friday, Jul 19, 2024

Marcus & Millichap Finance Division Head to Retire

William E. Hughes, head of Marcus & Millichap Capital Corp., will retire, parent company Marcus & Millichap Inc. announced Monday. The Calabasas commercial real estate brokerage said Hughes will continue to oversee lending for Marcus & Millichap-brokered deals until new management is in place, and he will continue as an advisor to the company. In the 12 months ending Sept.30, 2017, the company’s finance division closed 1,649 transactions totaling $5.29 billion. “For more than 20 years Bill has worked tirelessly to build our financing services, support our professionals and contribute to the firm’s overall growth,” Marcus & Millichap Chief Executive Hessam Nadji said in a statement. “We expect Bill’s successor to accelerate MMCC’s growth and its capital markets capabilities.” Shares of Marcus & Millichap (MMI) closed Monday down 54 cents or 1.7 percent to $30.95 on the New York Stock Exchange.

Joel Russel
Joel Russel
Joel Russell joined the Los Angeles Business Journal in 2006 as a reporter. He transferred to sister publication San Fernando Valley Business Journal in 2012 as managing editor. Since he assumed the position of editor in 2015, the Business Journal has been recognized four times as the best small-circulation tabloid business publication in the country by the Alliance of Area Business Publishers. Previously, he worked as senior editor at Hispanic Business magazine and editor of Business Mexico.

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