Marcus & Millichap Inc. had filed an initial public offering of common stock with US regulators to raise up to USD103.5 million.
The national brokerage firm had been specializing in commercial real estate investment sales, financing, advisory and research services. Marcus & Millichap has more than 1,100 financing professionals and investment sales in 73 offices.
Goldman Sachs & Co, JMP Securities, William Blair and Citigroup were appointed as underwriters for the IPO. This was according to a preliminary prospectus filed by the company with the US Securities and Exchange Commission.
The net proceeds for the IPO would be used by Marcus & Millichap for general corporate purposes. This would include acquisition of companies or real estate businesses, expenditures and working capital for expansion of markets and company services.
Last year, Marcus & Millichap had closed more than 6,100 sales and financing transactions. The deals incurred in 2012 were valued around USD22 billion.
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