MBA NewsLink Staff
Marcus & Millichap Opens New Southern California Office
Marcus & Millichap expanded its southern California presence with a new office in El Segundo.
Regional Manager Damon Wyler will oversee the new office, which will house 80 commercial real estate investment professionals and capital markets advisors.
Headquartered in Calabasas, Marcus & Millichap now has 11 offices in southern California including Bakersfield, Encino, Long Beach, Los Angeles, Newport Beach, Ontario, Palm Springs, San Diego, Ventura and west Los Angeles.
Fannie Mae Prices $904M Multifamily DUS REMIC
Fannie Mae, Washington, D.C., priced its second Multifamily Delegated Underwriting and Servicing real estate mortgage investment conduit of 2018, totaling $904.5 million under its Fannie Mae Guaranteed Multifamily Structures program.
Fannie Mae guarantees all classes of FNA 2018-M2 with respect to the full and timely payment of interest and principal.
Citizens Commercial Real Estate Team Announces Referral Agreement with PGIM Real Estate Finance
Citizens Bank, Providence, R.I., announced its commercial real estate clients will have an additional source of long-term permanent financing opportunities under a referral agreement with PGIM Real Estate Finance.
PGIM Real Estate Managing Director and Head of Agency Originations Michael McRoberts said the new relationship will provide Citizens' commercial real estate clients additional term-financing options, with a particular focus on multifamily properties.
Citizens' Commercial Real Estate Finance team provides project finance loans of more than $25 million, focusing on building relationships with strong commercial real estate sponsors. Citizens provides loans for multifamily, office, retail, industrial and hospitality properties.
Last year Citizens' commercial real estate loans grew 15 percent to $11.2 billion and was a top 10 real estate deal bookrunner by deal count.