2025 Top Brokerage Firms
MHN unveils the 15 leading firms—plus the top performers for sales volume and product diversity—in our latest annual ranking.
You can also read our other Top Brokerage Firms rankings.
Key: Mr=Market Rate, L=Luxury, A=Affordable Housing, St=Student Housing, Se=Senior Housing, Mi=Military Housing, SFR=Single-Family Rentals, X=Other
To be included in upcoming surveys, email Agota Felhazi at agota.felhazi@cpe-mhn.com.
Dealmakers Forge Ahead
Multifamily sales volume continued to retreat in 2024. Persistently higher rates coupled with robust new supply in certain markets led to a generally cautious industry and subdued transaction activity.
Nevertheless, the multifamily sector held steady, remaining a core component of commercial real estate portfolios. At the end of last year, the average advertised asking rent was $1,742, marking a 60-basis-point year-over-year increase, according to Yardi Matrix data. The national occupancy rate stood at a healthy 94.5 percent.
The economy also proved resilient. The national unemployment rate averaged around 4 percent throughout 2024, according to Bureau of Labor Statistics data. Consumer spending was on an upswing in December.
Multi-Housing News unveils its 2025 Top Multifamily Real Estate Brokerage Firms ranking. The comprehensive ranking highlights 16 leading firms since this year we had a tie for fifth place.
With a team of more than 500 multifamily brokers, Marcus & Millichap secured our top spot once again. The firm arranged $24.4 billion in multifamily sales during the past year, up from $19.5 billion in 2023.
This year’s Top 20 Multifamily Real Estate Brokerage Firms arranged multifamily transactions totaling $109.7 billion in 2024. The total volume of sales for the top firms was down, compared to the $121.1 billion and $231.7 billion totals in 2023 and 2022, respectively.
—Agota Felhazi, Senior Associate Editor, MHN
1. Marcus & Millichap
Marcus & Millichap secured our top spot once again. The leading investment brokerage firm arranged $24.4 billion in multifamily sales during the past year, up from the $19.5 billion volume of 2023. With a team of over 500 multifamily brokers Marcus & Millichap facilitated transactions involving from market rate properties to senior housing communities. One of the notable transactions closed by the leading investment brokerage firm was the $147-million sale of The Silverado Apartment Homes in Murrieta, Calif.
2. Colliers
Colliers ranked second. The leading real estate brokerage firm has a worldwide presence operating in 70 countries and facilitated sales totaling $5.6 billion in the past year, slightly less than the $5.7 billion of 2023. Colliers worked with a diverse portfolio of assets and had more than 250 brokers dedicated to the multifamily sector. As a testament to their wide-ranging expertise, Colliers arranged the $740-million sale of a manufactured housing portfolio encompassing 74 communities.
3. Berkadia
Number three on our ranking, Berkadia has offices across the U.S. and employs a large team of professionals with 180 brokers focused on multifamily. A key player in the commercial real estate industry, the firm arranged multifamily sales amounting to $10.2 billion in the past year, up from the $7.7 billion transactions closed in 2023. One of the notable transactions arranged by Berkadia in the past year was the $65-million sale of a 152-unit SFR community in Roseville, Calif.
4. Northmarq
Number four on our ranking, Northmarq has more than 50 offices nationwide. The firm has more than 120 multifamily brokers that helped close $4.6 billion sales in the past year. The transaction volume marked an increase from the $3.5 billion of 2023. Northmarq’s team of commercial real estate professionals covered a wide range of multifamily assets, but sales were most focused on the market rate properties and SFR assets. A highlight among Northmarq’s transactions closed in the past year was the sale of Yardly Dechman, a luxury BTR community in Grand Prairie, Texas.
5. Newmark
Newmark secured fifth place neck and neck with CBRE. The commercial real estate advisory and services firm has a worldwide network of 165 offices with more than 8,100 professionals. Newmark arranged $16.5 billion multifamily sales in the last year, down from the $29.4 billion closed in 2023. Newmark played a central role in Tailwind Group entering the St. Louis market with the purchase of 256-bed student housing community.
5. CBRE
CBRE also achieved fifth place side by side with Newmark. The global giant has a presence in more than 100 countries and employs thousands of professionals. In the past year, CBRE facilitated multifamily sales amounting to $33 billion, a drop compared to 2023’s $35 billion transaction volume. Among the standout deals facilitated by CBRE was the most expensive MHC transaction in Colorado’s history.
Methodology
Multi-Housing News’ ranking of the Top Multifamily Brokerage Firms is based on self-reported data from all firms. We considered various factors, including a firm’s performance in 2024 and previous years, investment sales volume and other details. The ranking represents what we feel is a logical balance between firm growth and market share. Ranking factors are not limited to the data that appear on this page.
