Marcus & Millichap Names Michael Hoffman Regional Manager of Denver and Fort Collins Offices

DENVER,  CO, Dec., 21, 2009– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has named Michael Hoffman (top right photo)  regional manager of the firm’s Denver and Fort Collins offices, according to Harvey E. Green, (bottom left photo)  president and chief executive officer. Hoffman is also a first vice president of the firm.

“Michael has been regional manager of the Houston office and has managed the Austin and San Antonio offices. He will now manage the Denver and Fort Collins offices,” says Green.

 “His extensive management experience and highly successful track record as an investment specialist make him an invaluable resource to our clients and agents in Colorado and throughout the western region of the United States.”

Hoffman began his career with the firm’s Newport Beach office in 1992 as an associate focusing on the multifamily market. As an agent, he received numerous distinctions for sales achievements. In 2001, Hoffman was named sales manager in the Ontario office, where he managed and trained the office’s sales force.

 He was promoted to vice president in April 2004 and first vice president in April 2008. Hoffman has extensive knowledge of the Texas markets, having served as regional manager of the Austin, San Antonio and Houston offices. Most recently, he was the regional manager of the Houston office.

Hoffman received his bachelor’s degree in real estate finance from the University of Arkansas.

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

Due to Employment Base, Denver Multi-Family Sector Expected to Outperform Nation

DENVER, CO — Denver’s weakening economy will drag on apartment fundamentals this year, though a diverse employment base should support a shallower downturn than the nation as a whole, according to a third-quarter Apartment Research Report by Marcus & Millichap, the nation’s largest real estate investment services firm.

The metro’s growing alternative energy and biotechnology presence lends to a healthy outlook, with large employers such as ConocoPhillips and DaVita Inc. relocating to the area for its relative affordability and educated labor pool.

“Fewer quality offerings and a disparity between buyers’ and sellers’ expectations have hindered sales activity during the past 12 months, as buyers continue to wait for further price reductions,” says Adam Christofferson, (top right photo) regional manager of the Denver office of Marcus & Millichap.

For additional information on the Denver market, please contact Stacey Corso, Communications Department, (925) 953-1716

Marcus & Millichap Capital Corp. Arranges $5.94M in 2 New Loans

TCI Michelin Building in Henderson, CO Receives $2.38M


HENDERSON, CO– Marcus & Millichap Capital Corporation (MMCC) has arranged a $2.38 million fixed-rate loan to refinance the 21,000-square foot TCI Michelin building (top right photo) located at 9156 Brighton Rd. in Henderson.

Colton Smith, an associate director in the firm’s Denver office, arranged the financing package for the single-tenant net-leased industrial property.

“The loan had a mezzanine piece behind the senior debt that made it a 79 percent combined loan to value,” says Smith.

“Additionally, the buying entity was a syndicate, which added an extra level of complexity when we were sourcing lenders. Due to the complex structure of the loan, it had been turned down by several sources before the borrower came to MMCC,” adds Smith.

“Through MMCC’s platform and local relationships, we were able to close in a timely fashion with a high LTV and other favorable rates for our client.”


Financing for this transaction was provided by a regional bank at a fixed rate of 6.95 percent. Terms of the loan are for five years with a 20-year amortization schedule. LTV was 70 percent.

“We have witnessed an increasing trend in which a number of local and regional banks are closing loans with five-year balloon payments and 20- to 25-year amortization schedules,” says Smith.




Westampton, NJ Walgreens Obtains $3.56M


WESTAMPTON, NJ– Marcus & Millichap Capital Corporation (MMCC) has arranged a $3.56 million fixed-rate loan for the acquisition of a 14,820-square foot Walgreens located in Westampton, New Jersey.

James Conley, a director in the firm’s Philadelphia office, arranged the financing package for the single-tenant Walgreens property.

“By utilizing MMCC’s platform, we were able to access our extensive lender base,” says Conley. “We found a lender who met all of the client’s loan terms and we were able to close in 45 days.”

Financing for this transaction was provided by a regional bank at a fixed rate of 6.2 percent. Terms of the loan are for 10 years with a 30-year amortization schedule. Loan to value was 55 percent.

“What sets this transaction apart is that MMCC structured the loan with an additional funding clause that allowed the client to borrow up to 70 percent in additional funds within the first 36 months of the loan,” adds Conley.

Press Contact: Kathy Molitor, Marcus & Millichap Capital Corporation, (925) 953-1704