Marcus & Millichap Promotes Armand Tiberio to First Vice President Investments in Seattle

SEATTLE, WA– The board of directors of Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has promoted Armand Tiberio  to the position of first vice president investments.

This achievement is one of the highest levels of recognition the firm awards to its investment specialists. It represents excellence in the development and servicing of long-term client relationships, according to Gregory S. Wendelken, vice president and regional manager of the firm’s Seattle office.

After joining the firm in January 2002, Tiberio was quickly promoted to associate in October 2002. He was promoted to senior associate in 2005 and became a vice president investments in July 2008.

Tiberio specializes in the sale of Section 42 Low Income Housing Tax Credit (LIHTC) properties and is a senior director of the firm’s National Multi Housing Group. He has received more than a dozen sales awards from Marcus & Millichap, including six National Achievement Awards.

Contact: Stacey Corso, Public Relations Manager, (925) 953-1716

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

Marcus & Millichap Capital Corp. Arranges $6M Loan for Auburn, WA Retail Center

AUBURN, Wash., Sept. 24, 2009 – Marcus & Millichap Capital Corporation (MMCC) has arranged a $6 million, 10-year fixed-rate loan to refinance the Auburn Center, (top right photo)  a 45,402-square foot neighborhood retail center located in Auburn.

Glenn Gioseffi, a director in the firm’s Seattle office, arranged the financing package for the center.

“Refinancing to long-term 10-year money is currently a trend we are seeing,” remarks Gioseffi. “For this loan, we were able to source a local lender. The borrower placed a deposit with the lender and received a below market-value interest rate.”

The refinancing package for Auburn Center was provided by a local bank. The loan-to-value is 50 percent and the term is 30 years. The Auburn Center was built in 1991.

Press Contact: Stacey Corso, Marcus & Millichap Capital Corporation, (925) 953-1716