Marcus & Millichap Acquires Dallas Finance Firm

Hessam Nadji. Image courtesy of Marcus & Millichap

Commercial property brokerage Marcus & Millichap has acquired Metropolitan Capital Advisors (MCA), a Dallas-based commercial real estate finance firm. Led by principals Sunny Sajnani and Todd McNeill, the company specializes in arranging debt and equity financing on behalf of developers, investors and owners across the country, with a focus on Texas and the Southwest.

MCA’s team of 18—which also includes professionals, analysts and support staff—will integrate with Marcus & Millichap Capital Corp., the NYSE-listed firm’s finance arm. Through the acquisition, Calabasas, Calif.-based Marcus & Millichap adds to a platform that included 2,021 investment sales and financing professionals across 82 offices in the U.S. and Canada as of year-end 2019.

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Sajnani and McNeill “have built a phenomenal organization and culture and have a great local reputation as well as a regional reputation, that we heard about through some local relationships and overlap with clients,” Hessam Nadji, president & CEO of Marcus & Millichap, noted to Commercial Property Executive. “It became a very natural, organic discussion that took place over the last several months.”

Growing in the Southwest

Sunny Sajnani, Senior Managing Director, Marcus & Millichap. Image courtesy of Marcus & Millichap

MCA, which has completed more than $16 billion in transactions since it was founded in 1992, advises on construction loans, mezzanine debt and joint venture equity investments. The company chalked up more than $650 million of debt and equity transactions in 2019 across a range of property types, including multifamily, retail, industrial and office.

Marcus & Millichap already has a major market presence in Texas through its investment brokerage operations in Dallas, Fort Worth, Houston, Austin and San Antonio, with Senior Vice President Tim Speck leading the company’s Texas division. Marcus & Millichap also has a top finance team led by Farhan Kabani out of the Dallas office.

Todd McNeill, Senior Managing Director, Marcus & Millichap. Image courtesy of Marcus & Millichap

In the last 18 months, Marcus & Millichap has acquired six groups and companies, including the addition of multifamily sales brokers Shelton Granade, Luke Wickham and Justin Basquill in Orlando, Fla., in January, along with other moves in the U.S. and Canada.

“We are continuing to forge ahead with strategic acquisitions, strategic hiring, even despite the market disruption and the economic shock that we’re all absorbing because of the fact that we really believe in the long term,” Nadji said.

MMCC is one of the largest financing intermediaries in the industry, with around 100 loan originators who completed some $7 billion in financing in 2019 and more than 1,200 transactions.