Marcus & Millichap (NYSE:MMI) announced on April 20 2026 that it had closed two multifamily transactions in the Brentwood neighborhood of Los Angeles. The sales involved a 31‑unit property at 11911 Mayfield Ave. and a 29‑unit property at 11860 Kiowa Ave., bringing a combined 60 units to a total sale price of $46.35 million. The 11911 Mayfield property also contains a nonconforming studio, raising the total unit count to 61.
The Azzi Group of Marcus & Millichap represented the seller, with Rabbie Banafsheha and Tony Azzi leading the transaction. Contracts were secured in under 20 days and the deals closed in under 60 days after generating more than ten offers, underscoring the firm’s ability to create competitive tension in a highly selective market.
These sales are significant because they are two of only five multifamily transactions in Brentwood in 2026, a high‑barrier, supply‑constrained market. The transactions set a new benchmark for price per unit in the area, reflecting strong investor demand and the firm’s skill in achieving premium pricing.
The sales come amid a broader context of robust performance for Marcus & Millichap. In Q4 2025 the company reported revenue of $244 million, up 1.6 % year‑over‑year, and net income of $13.3 million, a 55.7 % increase from the prior year. Earnings per share of $0.34 beat consensus of $0.24, driven by higher brokerage revenue and disciplined cost management. Brokerage revenue grew due to increased transaction volume and an expanded average commission rate, offsetting a slight decline in total sales volume.
Management highlighted the company’s strong performance. President and CEO Hessam Nadji noted that the firm’s revenue reached $755.2 million for 2025, an 8.5 % increase from 2024, and that net income for the full year improved to $1.9 million from a $12.4 million loss in 2024. CFO Steven F. DeGennaro emphasized that operating expenses rose 5.5 % year‑over‑year but were lower than the revenue growth rate, underscoring efficient cost control.
The high‑value sales reinforce Marcus & Millichap’s position in the Los Angeles multifamily market, where supply remains constrained and demand for high‑quality assets remains strong. The firm’s ability to close deals quickly and secure premium pricing demonstrates its continued market leadership and operational efficiency.
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