The Leeson Group of Marcus & Millichap’s Newport Beach office, closed escrow on over two dozen properties in the first quarter of 2020, totaling over $188 Million. In January alone, the group closed 14 transactions, a 250% increase from Q1 2019, and closed out the month with over $60 million in sales volume. By the end of March, The Leeson Group nearly doubled their year-to-date transactions, raising the total to 26 sold properties. Currently, the group has 8 properties in escrow and 18 current active listings.
Tyler Leeson, Senior Managing Director and founder of The Leeson Group, stated, “We are grateful to our clients for entrusting us to help them achieve their goals in the first quarter of 2020. It was another strong beginning to the year for our team. Although 2020 has presented us with unforeseen challenges, we look forward to helping investors navigate this tough time and emerge stronger than ever.”
Among the Q1 2020 closings was a 116-unit multifamily investment property named Terra at Tustin located in Tustin, CA. The Lesson Group, with their aggressive marketing strategy, created a competitive bidding environment and ultimately generated more than 10 competitive offers. The asset closed with no loan contingencies and the Buyer removed all contingencies at the signing of the purchase agreement.
About The Leeson Group & Marcus & Millichap:
The Leeson Group is a highly focused multifamily investment sales and advisory team. Tyler Leeson, Senior Managing Director, has been consistently recognized as a top agent in the Newport Beach office, finishing as the office’s top agent six times and in the office’s top 10 agents ten years running. He has completed over $1.8 Billion in investment transactions, earning six consecutive National Achievement Awards, four Chairman’s Club Awards, and three Chairman’s Circle of Excellence Awards along the way. Since 2015, Tyler has been ranked amongst the firm’s top 40 agents nationwide for all product types and in the firm’s top 20 multifamily agents nationwide.
With more than 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 9,726 transactions in 2019 with a value of $49.7 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.