Marcus & Millichap Shores Up Presence in Canadian Commercial Real Estate Market with Acquisitions of McGill and Primecorp

At Marcus & Millichap, our commitment is to help our clients create and preserve wealth by providing them with the best real estate investment sales, financing, research and advisory services. In 1971, our founders, George M. Marcus and William A. Millichap, created a new business model based on a unique method of matching the right buyers to the right properties. We have continually developed our industry leading brokerage platform, refined through decades of results and enabled through leading-edge technology and marketing tools, a collaborative culture and the industry’s most specialized investment professionals. An important component of our ongoing efforts to broaden our cutting-edge platform is to shore up our presence in key areas of the markets in which we operate.

In 2018, Marcus & Millichap significantly expanded our presence in the Canadian commercial real estate market with the acquisition of McGill Commercial in Montreal and Primecorp Commercial Real Estate in Ottawa. Acquiring these two well-established brokerages significantly enhances Marcus & Millichap’s access to major markets across Canada, further leveraging our broad platform and culture of collaboration that has made us the leading commercial real estate firm in North America, with over 80 offices and over 1800 dedicated agents across the continent. Shoring up our presence in Canada is attractive for investors seeking greater access to Canadian capital and commercial real estate assets, while providing additional opportunities for our Canadian clients and investors, not only within Canada, but across our extensive network of agents and offices throughout North America for all major product types.

Marcus & Millichap Expands in the Montreal Commercial Real Estate Market

Montreal Skyline Commercial Real Estate
Montreal Skyline

Building on our presence in Vancouver, Toronto and Calgary, on August 31st, 2018, Marcus & Millichap acquired McGill Commercial, an experienced and independent regional commercial real estate investment firm, headquartered in the attractive market of Montreal, Quebec, Canada. Many investors see opportunity in Montreal, as an accessible market, relative to more expensive options in Toronto and Vancouver, with a stable economy, low unemployment and ongoing investments in supporting infrastructure.

The team at McGill Commercial, founded by Mickael Chaput and Michael Dermer, specializes in commercial real estate services and investment sales throughout the greater Montreal region, and have all joined Marcus & Millichap at our Montreal office. McGill’s client base will now have access to a bigger, broader platform with a much larger base of buyers and sellers in all asset classes:

We are very excited to join the Marcus & Millichap team and be part of the growth of the brand in Quebec. The platform will allow us to better serve our clients throughout Canada and the United States. –Mickael Chaput, Co-Founder McGill Commercial

The team at McGill Commercial sees the acquisition, that took place over the summer, as a solid opportunity to grow their business by tapping into the robust resources that Marcus & Millichap brings to the table:

Marcus & Millichap’s platform is second to none; their resources, technology, culture of collaboration, and ability to access thousands of exclusive investment properties for sale across North America made it clear that this is the ideal opportunity for us to further grow our business. – Michael Dermer, Co-Founder McGill Commercial

Senior leadership at Marcus & Millichap are also excited by the opportunities and benefits that will stem from the acquisition of McGill for our clients in Quebec and stakeholders across the entire Marcus & Millichap network:

McGill is an exciting acquisition for us as we continue to expand our platform in Canada to best serve our clients in Quebec. This transaction immediately establishes our presence in Montreal with top producers who share our philosophy of superior client service and culture… Acquiring McGill is illustrative of our ongoing efforts to actively deploy our capital and deepen our presence across key growth markets such as Canada. McGill is a well-established industry player with an ability to execute across all major product types. We are pleased to have them join the MMI team. – Hessam Nadji, President and CEO Marcus & Millichap

To further enhance the team in Montreal, Marcus & Millichap hired Thierry Lessoil, with 30 years’ experience in commercial real estate investment sales and management, to manage the Montreal Office: “Thierry’s expertise as an organizational leader and his real estate investment experience and deep knowledge of the greater Montreal region make him a strong fit to support the expansion of our platform in Canada,” says J.D. Parker, Marcus & Millichap senior vice president and Northeastern division manager. – Remonline

Thierry Lessoil believes in the philosophy of collaboration and service excellence that has driven Marcus & Millichap to be the North American leader in commercial real estate, facilitating $43 billion USD in transactions over the past year. Thierry says, “I am proud to help launch such a distinguished brand in Montreal and eager to support a seasoned team of commercial real estate professionals in this market.”

Marcus & Millichap Further Shores Up Canadian Presence with Acquisition of Primecorp

Ottawa Skyline Commercial Real Estate
Ottawa Ontario: Featuring the Parliament of Canada

Founded in 1998 and headquartered in the National Capital Region, Primecorp Commercial Realty specializes in investment sales of multifamily and commercial properties across Ontario and Quebec. The brokerage also provides leasing services for select office and retail clients. Primecorp maintains offices in Ottawa, Toronto and Gatineau, Quebec. Since its inception, 20 years ago, Primecorp has brokered over $6 billion CAD in commercial real estate transactions across 56 cities in Canada.

On October 1, 2018, Marcus & Millichap acquired the assets of Primecorp, further expanding our presence in Canada with the second major acquisition of the year. All employees, databases and work processes will continue at Primecorp, and overtime Marcus & Millichap will add resources, technology and a deeper research platform to further enhance the premium investments services in the sectors of multi-residential, commercial, office, retail and seniors housing that Primecorp is known for. Marcus & Millichap will also continue to offer outstanding leasing services for landlord and tenant representation to retail and office clients in the Ottawa area.

At Marcus & Millichap, we are very pleased with the opportunities the acquisition of Primecorp will offer:

The acquisition of Primecorp, our second acquisition in Canada this year, further strengthens our platform while providing entry into a key market. Primecorp is a well-established company in its respective markets with a similar culture and business model to ours as well as a proven ability to execute transactions across all product types including a major focus in multifamily. The transaction enhances our ability to help investors move capital across markets and boosts Primecorp’s local growth opportunity by deploying Marcus & Millichap’s technology, brokerage tools, training and management systems. We are pleased to have Primecorp join the MMI team and look forward to their contribution as we deepen our presence across all the major Canadian markets. – Hessam Nadji, President and CEO Marcus & Millichap

The founders at Primecorp also see joining forces with Marcus & Millichap as an opportunity to take client service delivery to the next level within an environment of shared corporate cultures and a mutual passion for client success and satisfaction:

In our 20 years as Primecorp, our main principles in meeting the needs of our clients have been vision, discipline and execution whether they were large, small, public or private. Marcus & Millichap is a well-known and well-respected brand, with a network that allows us to enhance our vision and take the service we provide our clients to the next level. – Sam Firestone, Co-Founder Primecorp

The Primecorp team is extremely excited to become part of the Marcus & Millichap family. We see great potential ahead given the similarity in our corporate cultures, joint motivation for continued growth and unfailing drive to measure success by client satisfaction. It’s exciting and inspiring to strengthen the Marcus & Millichap brand in Canada. – Aik Aliferis, Co-Founder Primecorp

These two acquisitions are welcome news to the rest of the Marcus & Millichap team, based in Canada, operating with the unique challenges of the Canadian commercial real estate market:

The acquisition of McGill Commercial in Montreal and Primecorp in Ottawa allows for much greater transparency of inventory throughout Canada than was previously available due in large part to the unique geographical challenges of Canada. These acquisitions will also provide greater access to assets in these markets for all Marcus & Millichap clients – Mark Paterson, Region Manager Toronto, Marcus & Millichap

Mark further iterates that the value of the “advisory” portion of the transaction, with experts in each region across Canada, is highlighted during times of market uncertainty especially with the potential of rising interest rates going into 2019.

Canadian Commercial Real Estate Agency Acquisitions will Enhance Marcus & Millichap Platform

The acquisitions of McGill and Primecorp will further enhance and extend Marcus & Millichap’s industry-leading platform in Canada, creating additional investment and sales opportunities for all classes of commercial real estate assets on both sides of the border. Furthermore, the shared sense of optimism and excitement these acquisitions have generated, throughout the entire team at Marcus & Millichap, bodes very well for us to achieve success through superior client satisfaction across key areas of the Canadian commercial real estate market.

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