Marcus & Millichap Announces Strategic Partnership with Real Estate Technology Firm Archer
November 13 2023 - 7:55PM
Business Wire
Marcus & Millichap (NYSE:MMI), a leading commercial real
estate brokerage firm specializing in investment sales, financing,
research and advisory services, announced today a strategic
partnership that includes an equity investment and commercial
relationship with Archer, a venture-backed real estate technology
company.
Richard Matricaria, Marcus & Millichap’s chief operating
officer, Western Division, stated: “Our relationship with Archer is
one of the ways we continue to stay on the leading edge within the
proptech space. We value Archer’s technology and the strategic
benefits they provide our brokers and clients and took the
opportunity to expand our partnership with an equity
investment.”
Archer has developed a comprehensive commercial real estate
software platform that accelerates market analysis, deal sourcing,
and underwriting activities. It leverages machine-learning
algorithms to better parse property financials such as rent rolls
and operating statements and consolidate data from a multitude of
sources to be able to provide immediate performance metrics for
multifamily real estate assets nationwide. The platform allows
brokers to accelerate the market analysis and underwriting
processes for clients.
“Combining our market-specific data and underwriting tooling
with Marcus & Millichap’s 52-year history of technological
innovation and market research is part of our mission to make real
estate transactions more efficient through better data, technology,
and local expertise,” said Thomas Foley, Archer’s cofounder and
CEO. “Our platform supercharges investment sales professionals by
reducing the time required to complete a first underwriting from
days to minutes. This gives brokers and their investor clients more
time to spend on important analysis to achieve their long-term
strategic goals of winning more deals.”
Founded in 2019, San Francisco-based Archer recently expanded
its underwriting platform from multifamily to student and
affordable property types and plans to launch other property types
including retail, office, industrial, and hospitality in 2024. The
company provides software tools via a web-based application and
directly in a client’s Excel model, training sessions and on-demand
support.
“Marcus & Millichap’s history of adapting the benefits of
emerging technologies to serve commercial real estate investors
aligns with Archer’s predictive analytics and investor-centric
approach,” said Matricaria. “As a customer and also an investor in
Archer, we look forward to extending the benefits of this strategic
partnership to our brokers and clients.”
About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm
specializing in commercial real estate investment sales, financing,
research and advisory services with offices throughout the United
States and Canada. As of December 31, 2022, the company had 1,904
investment sales and financing professionals in 81 offices who
provide investment brokerage and financing services to sellers and
buyers of commercial real estate. The company also offers market
research, consulting and advisory services to clients. Marcus &
Millichap closed 12,272 transactions in 2022, with a sales volume
of approximately $86.3 billion. For additional information, please
visit www.MarcusMillichap.com.
About Archer
Archer is a real estate technology firm that helps investors,
lenders, and brokers throughout their acquisition and transaction
process. The firm’s data-driven, AI-powered platform enables real
estate professionals to analyze markets, source on and off-market
deals, and underwrite properties with one click. Using Archer’s
technology, firms can go from strategy creation to execution in a
fraction of the time. Learn more at www.archer.re.
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version on businesswire.com: https://www.businesswire.com/news/home/20231113315961/en/
Gina Relva, VP of Public Relations
Gina.Relva@marcusmillichap.com 510-999-1284
Marcus and Millichap (NYSE:MMI)
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