Multifamily property owners have a new team of experts - and a new firm - to turn to when considering a sale.
Alex Blagojevich and Michael Sullivan will lead Mid-Markets Group Real Estate Advisors (MMG) as founding partners and executive managing directors, leveraging their multi-market approach to ensure clients receive maximum exposure from interested and qualified buyers.
The duo, along with four others on the MMG team, brings more than 50 years of collective brokering experience and a vast, nationwide network to its new venture that plans to assist owners of multifamily properties in determining the best strategy for their holdings.
Recognizing the long-standing brokerage framework centered on siloed markets is growing increasingly obsolete, MMG leaders seek 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 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,” said Blagojevich.
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.
Collectively, the MMG team 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 knowledge-base of similar markets and an expansive network of qualified buyer prospects.
“MMG’s diverse relationships allow us 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,” said Sullivan.
The team prides themselves on taking a detailed, strategic approach to every assignment and creating 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. 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. 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,” Sullivan said.