Which type of brokerage to utilize? 20-40 Unit MF complex
Although this may be obvious to some, if one were to want to invest in a MF complex with about 20-40 units, what type of brokerage should one start creating relationships with to start combing through poential deals? Is HFF/M&M/Cushman way too big for those sorts of properties?
In my market that is about M&M's niche, but there is usually a hungrier younger guy at the bigger shops who will be representing owners of smaller properties like this. Otherwise it will be seeing who is the representative on more of the deals in this range in your local market to find out who has the market share for this product type.
How does one usually go about starting relationships with brokers at M&M? Just reach out with what you are looking for, firm type, and let the process develop and go forward from there? Curious as to how the protocol and dynamic is to set up relationships like this.
Why does everyone lump M&M in with HFF,CW,JLL? Not the same tier, also nothing wrong with M&M those brokers are just not doing the same stuff though.
HFF is snobby with respect to investment sales but they have no problem doing lower $ debt placement especially in CA. If you want financing advisory I would give them a call.
I've had this discussion many times in the last year. In CA, the trenches of CRE and MF are still mid market deals under $10mil. Yes, the top brokers close plenty of bigger deals, but a large majority of their closings are sub $10mil.
$2mil to $10mil deals pay the bills. The $15mil and up pay off the bills.
Yes 2-10 mil deals is the sweet spot of what I sam seeking for in terms of pricepoint
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