MMG NEWS
MMG NEWS
(December 15, 2022)
(December 15, 2022)
(December 14, 2022)
(December 14, 2022)
(December 13, 2022)
(December 2022)
(December 2022)
(December 2022)
(November 2022)
(Novembert 2022)
(November 2022)
(Novembert 2022)
(September 2022)
(July/August 2022)
KANSAS CITY, Mo. (Aug. 8, 2022)
KANSAS CITY, Mo. (Aug. 2, 2022)
KANSAS CITY, Mo. (Aug. 2, 2022)
KANSAS CITY, MO. (June 1, 2022)
KANSAS CITY, Mo. (April 23, 2021)
KANSAS CITY, Mo. (Jan. 21, 2021) –
Multifamily property owners have a new team of experts to turn to when considering a sale.
January 28, 2023
Article Highlight:
AUSTIN – Kansas City-based MMG Real Estate Advisors, a multifamily investment sales brokerage firm, acquired Independence Commercial Advisors. Based in Texas, Independence focuses on Lone Star State’s multifamily and self-storage brokerage. As part of the transaction, MMG has added eight investment sales advisors to the firm’s rapidly growing national roster with offices now in San Antonio, Austin, Houston and Dallas. Mike Watson and Mike Moffitt join the firm as managing directors along with senior directors Mark Diebold, Nicholas Ling, Josh Murphy and Richard Mireles and associate advisors Tyler Salter and Alex Thompson. In addition, Senior Project Manager Evelyn Pinner has joined MMG’s growing operations team from Independence.
January 26, 2023
KANSAS CITY, MO. — Kansas City-based MMG Real Estate Advisors has acquired Independence Commercial Advisors. Financial terms of the transaction were not disclosed. Based in Texas, Independence Commercial Advisors is a boutique brokerage firm founded in 2020 by industry veterans Mike Watson and Mike Moffitt with a focus on Texas private capital and institutional multifamily and self-storage brokerage. As part of the transaction, MMG has added eight investment sales advisors to the firm’s growing national roster with offices in San Antonio, Austin, Houston and Dallas.
Original Article Here
January 25, 2023
Excerpt:
MMG, a Kansas City multifamily investment sales brokerage firm headquartered in Westport, has announced the acquisition of Independence Commercial Advisors.
FULL ARTICLE CAN BE READ HERE
January 2023
Excerpt:
MMG Real Estate Advisors (MMG), a multifamily investment sales brokerage firm, announces the acquisition of Independence Commercial Advisors. Based in Texas, the boutique brokerage was founded in 2020 by industry veterans J. Michael Watson and J. Michael Moffitt with a focus on Texas private capital and institutional multifamily and self-storage brokerage.
December 15, 2022
December 15, 2022
Commercial real estate advisory firm Mid-Markets Group recently brokered the disposition of Gateway at City Park, formerly known as “Cityview,” in St. Louis.
Senior Directors Daniel Wiele and Tom Maloney represented the sellers in the transaction.
With multiple deals currently under agreement, MMG’s St. Louis Team will have closed more than 30 local transactions valued at $650M before the end of the calendar year.
December 14, 2022
Article Highlight:
MMG Real Estate Advisors has arranged the sale of Gateway at City Park, a 769-unit apartment complex in St. Louis that was formerly known as Cityview.
December 14, 2022
Article Highlight:
MMG Real Estate Advisors exemplifies the success that a company can achieve when its founders offer a service that caters to the actual needs of clients.
December 2022
Karisa Cowell has been named director of experience and engagement at MMG Real Estate Advisors. She will be based out of the company’s Kansas City, Missouri, headquarters.
Cowell is an experienced sales and business development professional who holds a bachelor’s degree from the University of Iowa.
December 2022
Overall, 2022 has proven to be anything but an ordinary year for the multifamily industry. The Federal Reserve’s aggressive monetary tightening policy over the course of the year to tame inflation has resulted in the effective federal funds rate increasing from near 0 percent to over 3 percent. What followed was a recalibration of the capital markets world, which has also affected the psyche of renters as the trajectory of the economy comes into question. Rent and prices grew by historic levels across the country in the first half of the year, while demand waned, and pricing began to stall in the back half of the year.
As the multifamily market enters a new cycle, assumptions held over the past two years need to be reshaped. MMG Senior Director Matt Ledom explains why the outlook for Kansas City is bright in the face of so much uncertainty in the multifamily market. “We are entering a period where investors need to look past broad national trends and focus on hyperlocal fundamentals and demographic trends to steer investment decisions,” he states. In high-growth Sun Belt markets like Phoenix, Nashville and Austin, rents grew at a blistering pace in 2021 and the first half of 2022, recording consecutive quarters of double-digit rent growth.
Consequently, developers followed suit and broke ground on thousands of units in these markets. “If you look at the most recent data from the third quarter, these once high-growth markets are most at risk for a steep correction as renter demand wanes and a tsunami of units come online,” explains Ledom. It comes as no surprise that markets in the Heartland stand to weather the storm clouds gathering on the horizon for the multifamily industry. “Take a market like Kansas City, for example. While it hasn’t garnered the same amount of attention as certain Sun Belt markets have in the past couple of years, the foundation supporting the multifamily market here is markedly strong.”
Solid demographic fundamentals are supporting continued strength in the multifamily sector in Kansas City. The total number of residents increased 4.3 percent from 2015 to 2020, representing a change rate which exceeded the U.S. average of 3.2 percent. And upon further examination of this population growth, the 20- to 34-year-old cohort — a crucial component of apartment demand — grew 4.4 percent versus 2.8 percent for the nation over this same time frame. Owners and operators raised rents 7.3 percent in the third quarter annually, versus annual growth of 5.7 percent nationally.
Markets most at risk of steep rent corrections have an excessive share of units under construction. “You look at a market like Nashville that’s been flying high for a number of years; developers have piled in, chasing the fantastic rent growth the market has achieved over the past four to five years. Now it’s at a point where there are over 20,000 units under construction, which amounts to nearly 14 percent of its base inventory,” says Ledom.
Many of these units will be delivered in 2023, which will challenge rent growth assumptions made by investors if demand stays tepid into the new year. While in the long run Nashville will be ne, in markets with robust pipelines, it’s certainly a concern in the short term. “Conversely, Kansas City has a much slimmer pipeline of units delivering in 2023 with 4,800 units expected to come online next year, or 2.6 percent of its base inventory,” states Ledom. “If softness continues there will be less supply-side pressure challenging rent growth here in 2023.”
According to the MMG research division, Kansas City has historically benefited from flying a bit under the radar. In their analysis of the 60 largest apartment markets, Kansas City ranked the 14thleast- volatile multifamily market. The report analyzed historic rent and occupancy trends dating back to 2000. Key factors supporting lower market volatility were lower levels of multifamily construction and diversified economic bases.
While Kansas City will not have to contend with an inordinate number of units coming online next year, the metro economy is also highly diversified. No one employment sector drives the local economy.
“As a multifamily investor, your job is to balance risk and reward,” says Ledom. “We’re entering a new phase in the multifamily cycle, one that requires astute observation of local fundamentals to be able to beat the market and achieve gains. I believe Kansas City will check a lot of boxes for investors in 2023, as they balance the risk and reward dynamic, looking for lower volatility markets to invest in.”
Matt Ledom is a senior director with MMG Real Estate Advisors in Kansas City.
December 2022
Over the past decade, business leaders, entrepreneurs and local officials have successfully transformed Greater St. Louis into a dynamic hub for innovation. The key driving force for this transformation is a thriving business accelerator scene that has triggered a flood of venture capital into the metro area, profoundly impacting the local economy.
Since 2014, venture capital committed to St. Louis-based companies has increased 303 percent from $173.4 million in 2014 to $699 million in 2021. The catalyst for this brisk growth is the Cortex Innovation Community, which has helped to grow 425 companies, generate over $2 billion in direct impact on the St. Louis region and create 6,000 permanent jobs since its founding.
Furthermore, the diversity of businesses that span sectors from advanced manufacturing to biosciences and financial services provides a stabilizing force against a potential economic downturn to carry St. Louis forward.
MMG Senior Directors Dan Wiele and Tom Maloney sat down with us and explained why the outlook for St. Louis looks bright despite uncertainty in the broader multifamily market. Maloney pointed to a recent study that the MMG research team conducted, which examined the historic rent and occupancy trends of the 60 largest multifamily markets to determine the volatility of each metro. “As you analyze the rankings, what stands out is that midwestern cities are heavily represented at the top of the list, indicating that they are historically less volatile,” says Maloney.
Factors influencing a metro’s stability included a diversified economic base and a balanced supply of new apartment development, using St. Louis as an example. Overall, the city was the 19th-least volatile market in MMG’s rankings. “Looking closely at the economic landscape of St. Louis, it’s a highly diversified economy,” says Wiele. “We are home to seven Fortune 500 companies that span industries from financial services to IT networking solutions and healthcare management.”
In addition, St. Louis has made great strides in bolstering its reputation as a hub for technological innovation in the Midwest. The National Geospatial- Intelligence Agency (NGA) is building a new multi-billion-dollar campus just outside of the downtown central business district to synergize with the growing roster of start-ups that call St. Louis home.
The stable economy is just one factor that will support continued strength of the multifamily sector in St. Louis in 2023. “In contrast to many other markets throughout the country, St. Louis has a consistent, but relatively limited, pipeline of units coming online over the next year,” states Maloney. In the third quarter of this year, St. Louis was one of just a handful of markets to record positive quarter over- quarter rent growth. “What we’re seeing is a number of core markets experiencing an abrupt reversal in rent growth with a major factor being the outsized number of new deliveries in those areas,” adds Maloney. “In St. Louis, the limited number of units coming online over the next 12 months will insulate the market from this supply shock and continue to drive consistent rent growth for existing assets.”
As it stands, there are an estimated 2,900 units scheduled to come online next year in St. Louis, which represents just 2 percent of the overall base inventory of units metro-wide. Comparatively, Nashville — which has seen an influx of developments in recent years — has over 20,000 units under construction currently, or 14 percent of its base inventory.
In terms of market outlook, Wiele summarizes as follows: “Investors need to closely examine local fundamentals to steer investment decisions next year. Strong economic drivers like the continued growth of the Cortex Innovation Community and roster of Fortune 500 companies across the metro, coupled with a manageable pipeline of units coming online, will support strength in the local multifamily market into next year and beyond. St. Louis is a market that investors need to make note of in 2023.”
Tom Maloney and Dan Wiele are senior directors with MMG
Real Estate Advisors in St. Louis.
Article Excerpt:
November 29, 2022
Kansas City, Missouri–(Newsfile Corp. – November 29, 2022) – MMG Real Estate Advisors has unveiled a proprietary support platform for real estate advisors to help their clients reach their investment goals. The platform provides real estate advisors with all the support services that they need in one place so that they are free to focus on the client and their real estate transactions.
MMG has a centralized support platform, a network of collaborative advisors and cross market capital team (CMCT), a cross-functional team that deals with all aspects of the transactional process. MMG brings these pillars together to achieve the clients’ desired outcome in regards to pricing and terms. These include researching for capital sources and leads, data and financial analysis, cross-market capital, marketing of properties through high quality collaterals, project management and transaction management.
November 29, 2022
Kansas City, Missouri, Nov 29, 2022 (Newsfile Corp via COMTEX) — Kansas City, Missouri–(Newsfile Corp. – November 29, 2022) – MMG Real Estate Advisors has unveiled a proprietary support platform for real estate advisors to help their clients reach their investment goals. The platform provides real estate advisors with all the support services that they need in one place so that they are free to focus on the client and their real estate transactions.
MMG has a centralized support platform, a network of collaborative advisors and cross market capital team (CMCT), a cross-functional team that deals with all aspects of the transactional process. MMG brings these pillars together to achieve the clients’ desired outcome in regards to pricing and terms. These include researching for capital sources and leads, data and financial analysis, cross-market capital, marketing of properties through high quality collaterals, project management and transaction management.
According to Alex Blagojevich and Michael Sullivan, co-founders of MMG, the platform and the cross-functional team are built from the operations side to cater to all the needs of the real estate advisors at the national level. This makes it possible for the firm to be a national brokerage with national advisors offering a range of properties across the country instead of being a national brokerage with local advisors. Clients thus benefit from working with a collaborative team on a highly competitive marketing process which can lead to multiple offers.
MMG Real Estate Advisory with its platform and CMCT team has access to multiple assets in different markets on a real time basis and is able to connect clients with the options that work best for them through an extensive network of relationships. The firm thus has coverage in every part of the country where the client would wish to invest.
Said Alex Blagojevich, co-founder of MMG, “The platform and CMCT handle all the verticals of the real estate transaction like marketing, research and transaction management so that the execution of the entire process is seamless. We have an extensive geographic footprint through our national team of brokers. We pool our collective knowledge, experience, and technological and financial expertise to provide our clients with the best deals. In the event that it doesn’t make sense for the client to sell, we are willing to forego the sale so that in the long term, we deliver value to our client. With the online platform and our cross market capital team, we now have the infrastructure we need to help our clients diversify their investment portfolio with the right real estate assets.”
November 28, 2022
Kansas City, Missouri–(Newsfile Corp. – November 28, 2022) – MMG Real Estate Advisors has unveiled a new model of real estate brokerage that focuses on a strategic and collaborative approach to real estate transactions. The company’s objective is to facilitate movement of capital across different markets in a smooth and effective manner.
The traditional real estate service model is highly localized even in the case of larger firms. Each firm has a siloed approach with local teams of brokers who specialize in properties in their areas. At MMG real Estate Advisors, the focus is on disrupting this model through a cohesive approach that focuses on the needs of the client.
The firm’s advisory services target customers who are keen on acquiring multifamily properties across the country. Record levels of inflation, growing volatility in the stock markets and the crypto crash have made real estate an increasingly attractive asset to investors as an asset class. Many investors consider real estate to be a hedge against inflation. Based on the capital available, the client might require real estate assets in different parts of the country.
MMG Real Estate Advisors has a platform that provides clients with access to the firm’s advisors from all over the country. They can thus choose the option that works best for them, without any geographic restrictions. They do not have to approach real estate firms in different parts of the country to compare properties in different areas.
The firm was set up by Michael Sullivan and Alex Blagojevich, veterans of the real estate industry, in January 2021. Their stints in the real estate industry revealed to them that the traditional model was tailored to suit the needs of the brokers and the firms rather than that of the clients. They set up MMG Real Estate Advisory with the goal of following a more client centric approach. The agency serves as a one stop shop that caters to all the real estate needs of a client, without any restrictions in terms of location or movement of capital.
The approach proved to be highly effective. Though multifamily investment sales declined by 50% year-on-year in 2020, MMG Real Estate Advisory experienced only a 2% drop and closed USD 935 million in gross sales. In the first quarter of 2021, the firm closed USD 400 million in multifamily investment transactions. In addition to the offices in Kansas City and Chicago, the firm now has offices in St. Louis, Houston, Boston and Bentonville, Arkansas.
Said Michael Sullivan, co-founder of MMG Real Estate Advisors, “Our goal is to deliver exceptional service to our clients, whether they are buyers or sellers of properties. We assist them at every stage of the process through creation of the best quality marketing materials and a cohesive approach that targets many qualified buyers or sellers. This leads to our clients benefiting from multiple offers and premium pricing. We customize our approach for every property and market. Our clients get access to our vast, nationwide network. Through our approach that ensures each transaction is closely aligned to every client’s objectives, we have been able to consistently meet and exceed clients’ expectations.”
November 28, 2022
Article Highlight:
“Kansas City, Missouri–(Newsfile Corp. – November 28, 2022) – MMG Real Estate Advisors has unveiled a new model of real estate brokerage that focuses on a strategic and collaborative approach to real estate transactions. The company’s objective is to facilitate movement of capital across different markets in a smooth and effective manner.
The traditional real estate service model is highly localized even in the case of larger firms. Each firm has a siloed approach with local teams of brokers who specialize in properties in their areas. At MMG real Estate Advisors, the focus is on disrupting this model through a cohesive approach that focuses on the needs of the client.”
September 2022
“A team of TJ Wahl, Matt Ledom, Harry Trotter, Jake Sullivan, Thomas Skevington, Michael Sullivan and Alex Blagojevich, all with Mid-Markets Group Real Estate Advisors (MMG), represented Burlington Capital as brokers in the transaction.”
July/August 2022
August 8, 2022
Article Highlight:
“KANSAS CITY – MMG Real Estate Advisors announced that Jonathan Rappa has joined the firm as Director of Research.“
August 2, 2022
Article Highlight:
“Jon Rappa has joined Kansas City, Missouri-based MMG Real Estate Advisors as director of research.“
June 1, 2022
Article Highlight:
“Panelists Banks Floodman, director of business development, Sunflower Development Group, Fletcher Harder, project manager, Neighbors Construction Company, Michael Sullivan, founding partner, MMG Real Estate Advisors, and Nicole Yates, co-founder, Yates and Yates Co., gathered at the Homebase HQ last week with a sold-out audience to discuss the multifamily market at MetroWire Media’s 2022 KC Multifamily Summit.
…”
April 23, 2021
Article Highlight:
“As Mid-Markets Group Real Estate Advisors, a team of former local Berkadia veterans and new hires has closed about $400 million in multifamily investment transactions in first quarter of 2021.
…”
Mid-Markets Group touts expertise, proven track record of moving capital
KANSAS CITY, Mo. (Jan. 21, 2021) — Multifamily property owners have a new team of experts to turn to when considering a sale. Mid-Markets Group Real Estate Advisors (MMG) brings more than 50 years of collective brokering experience and a vast, nationwide network to its new venture.
MMG is a cohesive real estate advisory team that assists owners of multifamily properties in determining the best strategy for their holdings. Recognizing the longstanding brokerage framework centered on siloed markets is growing increasingly obsolete, MMG seeks to establish a new type of multifamily firm built with the client at the center of the business.
As part of the industry’s recovery from the Great Recession, a growing number of investors are turning to the multifamily sector for more consistent, predictable yields. In turn, fund advisors are forced to expand their search for properties outside of their historical market focus, and MMG is poised to execute on this well. Its advisors aim to maximize value for multifamily property owners by providing a fully integrated advisory platform from acquisition to disposition. The team has extensive experience with all subsets of multifamily properties, including student, affordable and senior housing and land services.
Owners benefit from MMG’s national reach, access and expertise. Though the team rose to prominence in the industry selling across the Midwest, South and Southeast, they have continued to expand their market coverage into a national focus. They have closed nearly 500 multifamily transactions across 110 unique markets in 31 states for a total of more than 100,000 units and $6 billion in gross sales, building a knowledgebase of similar markets and an expansive network of qualified buyer prospects. MMG’s diverse relationships allow it to explore opportunities among private and institutional investors. That combination gives MMG the advantage of quickly generating interest from multiple qualified buyers by accessing capital unavailable to other brokers.
Alex Blagojevich and Michael Sullivan will lead MMG as founding partners and executive managing directors, leveraging their multimarket approach to ensure clients receive maximum exposure from interested and qualified buyers. They have worked with portfolios of all sizes and regularly handle multi-state transactions.
“Demand for multifamily properties remains strong, and we see this as an optimal time to begin expanding our independent footprint,” Sullivan said. “We pride ourselves on helping property owners minimize risk and maximize opportunity by using an elevated, cohesive approach to the acquisition and disposition process. We understand the nuances of multifamily sales, and we create negotiating leverage by marketing to many qualified buyer prospects simultaneously. This results in multiple-offer situations and premium pricing for our clients, and we expect it to serve as a catalyst for sustained growth in the short- and long-term.”
The team takes a detailed, strategic approach to every assignment and creates the highest quality marketing materials, tailored to each property and market.
“We’ve put together a talented team that delivers exceptional service to our clients, and that’s just one of the secrets to our success. We have the knowledge and resources to support clients every step of the way,” Blagojevich said. “We don’t believe in one-size-fits all solutions. Rather, every client, every asset and the ultimate objective for each listing is unique. By customizing each solution so that it is aligned with the client’s objectives, we’ve successfully helped hundreds of property owners meet or exceed their goals.”
Prior to launching MMG, Sullivan and Blagojevich led the Berkadia Mid Markets brokerage team to notable success in 2020, despite overall activity in the multifamily investment sales space being down more than 50 percent year-over-year. By leveraging an aggressive approach despite difficult market conditions, they closed more than $935 million in gross sales.
“Coming off of a challenging year has only ignited our passion for amplifying our ability to deliver outstanding client service,” said Sullivan. “We look forward to maintaining and increasing our momentum in 2021, leveraging our one-of-a-kind, full-service approach to consistently exceed clients’ expectations and deliver profitable outcomes.”
CONTACT:
Patrick Sullivan
Managing Director of Operations
mobile 913.638.6188
patrick.sullivan@mmgrea.com
