Marcus & Millichap Names Martin E. Louie Managing Director

ENCINO, CA– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has elected Martin E. Louie (top right photo)  as a managing director, according to John J. Kerin (lower left photo), president and chief executive officer. Louie currently serves as the firm’s chief financial officer.

            “Marty’s skillful management of the firm’s financial operations has been of immense benefit to the company,” says Kerin. “His success in formulating, communicating and executing our financial objectives is a testament to his abilities as an insightful strategic planner and a dedicated leader.”

Louie joined the firm as controller in 2003. He was promoted to vice president of finance in 2007 and to first vice president in 2008. He has been chief financial officer since 2010.

Prior to his career with Marcus & Millichap, Louie was the president/broker of TriStar Capital Group Inc., a lending institution providing commercial and residential financial services for the greater San Francisco Bay Area.

He has also served as a senior financial executive with worldwide responsibilities for various Fortune 500 companies including Sony Electronics Inc., Disney, Infineon Technologies AG and West Marine.

Louie graduated from the University of California, Los Angeles with a degree in economics. He received his MBA in finance from the University of Southern California. He is also a certified public accountant.

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



Marcus and Millichap Capital Corp. Arranges $7.4 Million Construction Loan in Utah

   

ST. GEORGE, UT – Marcus & Millichap Capital Corporation (MMCC) has arranged a $7,451,409 construction loan and long-term commitment for an assisted- living facility in St. George.

Jeffrey Meierhofer (top right photo), an associate director in Salt Lake City, arranged the financing.

“When local lenders were unable to provide funding, MMCC was able to draw upon the firm’s mid-market relationships to secure financing,” says Meierhofer. “In a market where construction funding is scarce, MMCC was able to creatively solve product- and small geographic area-related challenges.”

 “The borrower, lender and broker worked together to start construction on what will be a state-of-the-art assisted-living facility with memory care,” adds Meierhofer. “No new assisted living has been built in the area in years; this new facility will provide much needed accommodations for seniors.”

 The construction loan is for two years and then a 75 percent loan-to-value long- term loan will be in place to take over upon occupancy.

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

www.mmCapCorp.com

California Shopping Center Trades for $11.7 Million

GRANADA HILLS, CA – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has brokered the sale of 17020 Chatsworth St (above centered photo)., a three-tenant, 39,720-rentable square foot shopping center in Granada Hills.

The sales price of $11.74 million represents $296 per square foot.

Brandon Michaels, a vice president investments in the firm’s Encino office, represented the seller, an out-of-state owner.

“The seller came to us because of our expertise and proven ability to create a market for this product type,” says Michaels. “Our platform and marketing process created a substantial amount of activity that produced a unique buyer who was able to pay a significant price.

“The property provides the new owners with a stable, core asset in a strong marketplace,” continues Michaels. “Two of the three tenants, Walgreens and Staples, are publicly traded companies and the third tenant, El Pollo Loco, is a privately held company with 333 locations.”

Built in 1959, the property is located on 129,809 square feet at the signalized corner of Chatsworth Street and Balboa Boulevard. The shopping center is easily accessible from California State Route 118. Nearby retailers include Fosters Freeze, 7-Eleven, 99¢ Only and Subway.

 The Walgreens drugstore is 11 years into a 60-year lease term with the option to cancel in year 20 and at the end of every five years thereafter. Staples is in year 11 of a 15-year lease term with three-five year options to renew. El Pollo Loco is in year 11 of a 20-year ground lease.

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

           

Introducing David Toro, Luxury Homes Specialist at Stirling Sotheby’s International Realty

ORLANDO, FL --- David Toro (top right photo), International Luxury Homes Specialist at Stirling Sotheby’s International Realty, has a different take on the real estate market from many market observers.

“In my role as an International Luxury Homes Specialist at Stirling Sotheby’s International Realty I have met countless celebrities, engineers, lawyers, doctors, business owners, and executives,” Toro said.

“While many educated individuals look down upon today's real estate market, I see a breadth of opportunity,” he said.

“We are emerging from an unprecedented housing market, but positive trends are already beginning to emerge. Buyers are leaving the sidelines and sellers are adjusting to the realities of the market. That’s a win/win situation, because as the supply curve dwindles, and as the demand curve increases, we will begin seeing a steady upbeat of market valuation,” he added.

For Toro, Stirling Sotheby’s International Realty has the best grasp of market conditions and the infrastructure to shape the market.

For more information, contact:

Roger Soderstrom, Founder/Owner Stirling Sotheby’s International Realty 407-581-7890  

Larry Vershel or Beth Payan, Larry Vershel Communications 407-461-3780 or 407-644-4142