Encino, California-based Marcus & Millichap (NYSE:MMI), a leading national real estate services firm specializing in commercial real estate investment sales, financing, research, and advisory services, reported preliminary financial results for the fourth quarter and full year 2025.
Total revenue increased 1.6% to $244 million from $240.1 million.
Brokerage commissions rose 1.2% to $205.3 million from $202.8 million.
Private Client Market brokerage revenue grew 10.3% to $132.8 million from $120.4 million, while Middle Market and Larger Transaction Market brokerage revenue decreased 15.8% to $64.6 million from $76.7 million.
Financing fees also increased 6.5% to $33.2 million from $31.2 million.
Meanwhile, net income attributable to common stockholders was $13.3 million, or $0.34 per diluted share, compared with $8.5 million, or $0.22 per diluted share, in the prior-year quarter.
Elsewhere, adjusted EBITDA rose 38.7% to $25 million from $18 million.