CALABASAS, Calif.--(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.
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.