Alec Neesham of MMCC Appointed Correspondent Mortgage Banker
INDIANAPOLIS, June 12, 2019 – Marcus & Millichap Capital Corp. (MMCC), a leading provider of commercial real estate financing, today announced that Standard Insurance Co. (The Standard) has appointed Alec Neesham of MMCC as its correspondent mortgage banker for the state of Indiana. The Standard recently announced its entrance into Indiana’s commercial real estate lending markets and Neesham will be the only mortgage banker based in Indiana to represent The Standard for commercial real estate loan originations throughout the state.
“We are thrilled Alec has been appointed as correspondent in the Indiana market, as this is an acknowledgement from The Standard of Alec’s expertise and knowledge of their program,” said Jim Leonard, MMCC senior managing director. The Standard specializes in commercial real estate loans that typically range from $750,000 to $20 million. Property types include retail, office, industrial, multifamily, self-storage, and manufactured housing communities. The Standard separates itself from other lenders by offering extremely competitive rates, locking the interest rate at application, having no covenants or reserve requirements, and the ability to fix the interest rate for as few as three years or as long as 25 years.
In 2018, The Standard and affiliated companies originated approximately $2 billion in commercial real estate loans, putting their origination volume in the top 15 of all life company lenders nationally. It originates all loans through correspondent mortgage bankers like Neesham.
Neesham, Prior to joining MMCC in Indianapolis, worked extensively with The Standard and other lenders as part of Pinnacle Financial Group in Cleveland, Ohio. Pinnacle Financial Group was acquired by MMCC in 2018.
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About Marcus & Millichap Capital Corporation
Marcus & Millichap Capital Corporation (MMCC) is a subsidiary of Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada. Through its network of national, regional and local lenders, MMCC provides capital markets products for a wide variety of investment properties, including apartments, shopping centers, office buildings, industrial facilities, single-tenant net-lease properties, seniors housing, hotels/motels, manufactured home communities and self-storage facilities. In 2018, MMCC closed over 1,600 commercial real estate financing transactions totaling $6.2 billion. To learn more, please visit: www.mmCapCorp.com.
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About Marcus & Millichap (NYSE: MMI)
With over 2,000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 8,954 transactions in 2020 with a value of approximately $43 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com.