Marcus & Millichap Inc. has expanded its presence in the Canadian market by acquiring McGill Commercial, a regional commercial real estate investment sales firm in Montreal, the company announced late Thursday. The acquisition closed Aug. 31.
The deal marks the second major acquisition this year for the Calabasas brokerage, which in June completed the purchase of Pinnacle Financial Group Inc., a mortgage brokerage and servicing firm in Cleveland.
“This transaction immediately establishes our presence in Montreal with top producers who share our philosophy of superior client service and culture,” Hessam Nadji, chief executive of Marcus & Millichap, said in a statement. “Acquiring McGill is illustrative of our ongoing efforts to actively deploy our capital and deepen our presence across key growth markets such as Canada.”
Mickael Chaput and Michael Dermer, founders of McGill Commercial, along with investment professionals Naomi Faraj, Louis Hoppenheim and Phillipe Marcotte,will join Marcus & Millichap’s Montreal office.
Shares of Marcus & Millichap (MMI) closed Friday down 39 cents, or 1.1 percent, to $35.16 on the New York Stock Exchange.