From the Triad Business Journal:
Calabasas, Calif.-based commercial real estate brokerage firm Marcus & Millichap recently opened an office in Greensboro and hired two local industry veterans —Richard Montana and Hal Kern — to increase sales of apartment projects across the Carolinas.
M&M (NYSE: MMI) recruited Montana and Kern, who previously worked together within the multihousing group of CB Richard Ellis‘ Triad office, to help the company capitalize on multifamily investment sales at a time when interest rates remain historically low, apartment demand remains hot, and lenders are competing for deals, M&M officials said…
Raj M. Ravi, regional manager for M&M’s North Carolina, South Carolina and southern Virginia offices, said the two will focus on investment sales for high net-worth private investor clients that typically spend between $8 million and $30 million on assets. The team also will focus on building a base of private investor clients that spend between $1 million and $8 million, he said.