Dayton, OH; Columbus, OH (PRWEB) March 20, 2007
Two former agents with Marcus & Millichap have formed Capital Commercial Partners, a limited liability company specializing in real estate investment brokerage throughout the U.S. The company, currently headquartered in Dayton and Columbus, intends to open offices in other states in the next six months.
The team had ranked eleventh nationally within Marcus for the combined value of their multi-family transactions. They recently closed a 742-bed student housing transaction with the country's largest student housing REIT. The deal generated 11 offers from groups around the country and commanded a sales price of $25,600,000 with a sub 7% capitalization rate.
With the close of the transaction, the two decided the time had come to strike out on their own. Geisenfeld was a Senior Investment Associate with Marcus in Cincinnati for over five years and was awarded "Top Ohio Agent" in 2005. He was recently ranked thirtieth in value of closed transactions of the nearly1,100 agents in the company as of February 2007, an unprecedented achievement for a Midwest-based agent. He has closed over one-half billion dollars in transactions by and through 1031 exchanges and the national commercial real estate marketplace website he created in 2002, http://www.nnn1.com. The site generates six million annual hits from the commercial real estate marketplace.
Schneier also was previously with Marcus before co-founding Capital Commercial Partners. Elliot's involvement in real estate includes production, sales, land acquisition and equity brokerage. Schneier has facilitated nearly $250 million in commercial real estate transactions in the last 30 months. In 2006, Elliot was involved in placing $20 million of seed capital with various developers and capital groups.
Schneier says: "We found that large national brokerage houses often close the door on outside brokers. This is not in the sellers' best interest. When we expose assets to the international marketplace, we truly open all avenues of potential buyers. Because of the rapid appreciation in real estate in coastal markets the Midwest has become a proven target to place equity into stabilized cash flow deals."
Ohio-based Capital Commercial Partners specializes in real estate investment brokerage throughout the US. The company has a powerful marketing system for investment properties and combines product specialization; market expertise; state-of-the-art technology and established relationships with the largest pool of qualified investors globally.
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