CALABASAS, Calif.--(BUSINESS WIRE)--
Marcus & Millichap (NYSE:MMI) today announced that its financing subsidiary, Marcus & Millichap Capital Corp. (MMCC), has broadened its network of lenders through a proprietary preferred correspondent agreement with PGIM Real Estate Finance, the commercial mortgage business of PGIM, the trillion-dollar global investment management business of Prudential Financial, Inc., for the purpose of originating agency eligible and other types of multifamily loans on a nationwide basis.
“Our partnership with PGIM Real Estate Finance is a significant win for our clients, and is in line with our goal to consistently deliver the lowest cost capital solutions, competitive pricing, and efficient execution,” stated Richard Katzenstein, senior vice president and national director of Marcus & Millichap Capital Corp.
“PGIM Real Estate Finance offers one of the most comprehensive lines of real estate finance products,” said William E. Hughes, senior vice president and head of Marcus & Millichap Capital Corp. “They provide us access to Fannie Mae DUS, Freddie Mac and specialized affordable housing programs, FHA, Conduit, and Prudential’s general account. This new relationship, coupled with Marcus & Millichap Capital Corp’s vast array of lenders, further supports our ability to provide the widest spectrum of superior financing solutions to our clients.”
“We are always looking for opportunities to broaden our originations capabilities. Our partnership with Marcus and Millichap provides another avenue for us to expand our multifamily borrower relationships and to provide capital from all of our sources,” said Michael McRoberts, Managing Director and head of agency lending at PGIM Real Estate Finance.
A key objective of the two companies working together is to provide middle-market and institutional multifamily clients, serviced by Marcus & Millichap’s senior brokers and its institutional division, IPA, access to PGIM’s full scope of capital options.
“This is a synergistic opportunity for us to provide integrated solutions to our major clients,” added Hughes.
PGIM is dedicating key resources to work with Marcus & Millichap and IPA brokers in offering a broader range of capital markets capabilities in a seamless fashion.
About Marcus & Millichap Capital Corporation
Marcus & Millichap Capital Corporation (MMCC) is a subsidiary of Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada. Through its network of national, regional and local lenders, MMCC provides capital markets products for a wide variety of investment properties, including apartments, shopping centers, office buildings, industrial facilities, single-tenant net-lease properties, seniors housing, hotels/motels, manufactured home communities and self-storage facilities. In 2016, MMCC closed more than 1,600 commercial real estate financing transactions. To learn more, please visit: www.mmCapCorp.com
About PGIM Real Estate Finance
PGIM Real Estate Finance, the commercial mortgage business of PGIM, the trillion-dollar global investment management business of Prudential Financial, Inc. (NYSE: PRU), is an international full-service, commercial and multifamily mortgage finance business with more than $88 billion in assets under management and administration as of Dec. 31, 2016. Leveraging a 140-year history of real estate finance, the company offers one of the most comprehensive lines of real estate finance products and originates loans for Fannie Mae DUS®, Freddie Mac and specialized affordable housing programs; FHA; Conduit; Prudential’s general account; and other institutional investors. For more information, please visit http://www.pgimref.com.
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