Tax Credit Group of Marcus & Millichap Reaches $1.5B Milestone

ENCINO, Calif., Nov. 18, 2009 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, announces that the firm’s Tax Credit Group (TCG) has been involved in the sale of more than $1.5 billion of Section 42 LIHTC (Low-Income Housing Tax Credit) product, according to John Kerin,  (top right photo) senior vice president and managing director of the firm.

“Since its formation in 2001, the Tax Credit Group has been involved in 239 tax credit multifamily transactions in 34 states totaling $1.5 billion in real estate. Operating within Marcus & Millichap’s National Multi Housing Group, TCG provides disposition and advisory services to clients in every region of the United States,” says Kerin.

“The Tax Credit Group has transformed the affordable housing brokerage market by creating opportunity and maximizing value for its clients,” says Robert Sheppard, (middle  left photo)  senior director of the Seattle-based Tax Credit Group. “The principals possess more than 32 combined years of real estate brokerage, advisory, research and low-income housing tax credit property experience to assist investors in property dispositions and acquisitions.”

Some of the Tax Credit Group’s most significant transactions in 2009 include:

· The $26.12 million sale of the Fields at Landmark , a 290-unit Section 42 LIHTC property at 318 S. Whiting St. in Alexandria, Va., in conjunction with the firm’s Southeast Virginia office;

· The $14.7 million sale of Woodland Greens, a 240-unit Section 42 LIHTC project located at 19801 50th Ave. W in Lynnwood, Wash.; and

· The $10.9 million sale of the 300-unit Waterford at Valley Ranch, a 249,600-square foot Section 42 apartment complex in Irving, Texas, in conjunction with the firm’s Dallas office.

Press Contact: Stacey Corso, Communications Department, (925) 953-1716