Marcus & Millichap has signed a definitive agreement to acquire Mission Capital Advisors. The acquisition will add 40 professionals—including producers, analysts and related support staff—to Marcus & Millichap’s roster from Mission Capital’s offices in New York, California, Texas and Florida. While no financial terms were disclosed, the deal is slated to close in the fourth quarter this year.
The acquisition had long been in the works, and the deal had initially been slated to close in the first quarter, according to the Commercial Observer. However, the transaction was delayed amid economic uncertainties stemming from the pandemic.
Founded in 2002, Mission Capital, which mainly deals with loan sales and loan advisory services, has closed transactions in excess of $65 billion, including both property sales and financing. The firm’s volume through Fannie Mae and Freddie Mac exceeds $14 billion.
The announcement comes not long after Marcus & Millichap finalized its acquisition of Metropolitan Capital Advisors. MCA added its expertise in construction financing, mezzanine debt and joint venture equity investment to the Calabasas, Calif.-based brokerage in April this year.