Marcus & Millichap vs L.P.N. Development: why the prices moved differently

Weekly · monthly · quarterly news summaries, side by side in time

Marcus & Millichap Inc (MMI)

Q3 202614 Jul – 9 Oct 2026

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MMI swings to profit as rate surge delays CRE recovery

Apartment supply drop lifts landlord pricing power MMI's own 2026 outlook sees US apartment completions falling about 34% from last year, the lowest since 2014. Less new supply means tighter vacancies and firmer rents, which makes apartment buildings more attractive to buy and sell — more deals means more commissions for MMI.
It is a core demand driver for MMI's brokerage business and is new this period.
Q2 swings to profit, revenue up about 18% MMI's second-quarter revenue rose roughly 18% to about $203 million, and it swung from a year-ago loss to a small profit. Brokerage and financing fees both grew, and the company kept buying back stock and paying its dividend — signs the business is recovering.
Earnings are the clearest evidence of MMI's financial health and are new this period.
Rate surge pushes CRE recovery further out MMI's CEO said the recent jump in interest rates is delaying the commercial real estate sales recovery and disrupting deals already underway. Higher rates make it harder to agree on prices, so deals take longer and some fall apart — a drag on MMI's commissions.
It is the main counterweight to the positive earnings and supply news.
IPA closes $58.7M Phoenix multifamily sale MMI's IPA division sold a 260-unit Phoenix apartment complex for $58.7 million. Big single deals like this show MMI can still close large transactions even in a slow market, and each one adds directly to its brokerage revenue.
It is a concrete example of MMI closing deals despite the rate headwind.

August 202614 Jul – 9 Oct 2026

▲3▼1

MMI swings to profit as rate surge delays CRE recovery

Apartment supply drop lifts landlord pricing power MMI's own 2026 outlook sees US apartment completions falling about 34% from last year, the lowest since 2014. Less new supply means tighter vacancies and firmer rents, which makes apartment buildings more attractive to buy and sell — more deals means more commissions for MMI.
It is a core demand driver for MMI's brokerage business and is new this period.
Q2 swings to profit, revenue up about 18% MMI's second-quarter revenue rose roughly 18% to about $203 million, and it swung from a year-ago loss to a small profit. Brokerage and financing fees both grew, and the company kept buying back stock and paying its dividend — signs the business is recovering.
Earnings are the clearest evidence of MMI's financial health and are new this period.
Rate surge pushes CRE recovery further out MMI's CEO said the recent jump in interest rates is delaying the commercial real estate sales recovery and disrupting deals already underway. Higher rates make it harder to agree on prices, so deals take longer and some fall apart — a drag on MMI's commissions.
It is the main counterweight to the positive earnings and supply news.
IPA closes $58.7M Phoenix multifamily sale MMI's IPA division sold a 260-unit Phoenix apartment complex for $58.7 million. Big single deals like this show MMI can still close large transactions even in a slow market, and each one adds directly to its brokerage revenue.
It is a concrete example of MMI closing deals despite the rate headwind.

Latest14 Jul – 9 Oct 2026

▲3▼1

MMI swings to profit as rate surge delays CRE recovery

Apartment supply drop lifts landlord pricing power MMI's own 2026 outlook sees US apartment completions falling about 34% from last year, the lowest since 2014. Less new supply means tighter vacancies and firmer rents, which makes apartment buildings more attractive to buy and sell — more deals means more commissions for MMI.
It is a core demand driver for MMI's brokerage business and is new this period.
Q2 swings to profit, revenue up about 18% MMI's second-quarter revenue rose roughly 18% to about $203 million, and it swung from a year-ago loss to a small profit. Brokerage and financing fees both grew, and the company kept buying back stock and paying its dividend — signs the business is recovering.
Earnings are the clearest evidence of MMI's financial health and are new this period.
Rate surge pushes CRE recovery further out MMI's CEO said the recent jump in interest rates is delaying the commercial real estate sales recovery and disrupting deals already underway. Higher rates make it harder to agree on prices, so deals take longer and some fall apart — a drag on MMI's commissions.
It is the main counterweight to the positive earnings and supply news.
IPA closes $58.7M Phoenix multifamily sale MMI's IPA division sold a 260-unit Phoenix apartment complex for $58.7 million. Big single deals like this show MMI can still close large transactions even in a slow market, and each one adds directly to its brokerage revenue.
It is a concrete example of MMI closing deals despite the rate headwind.

L.P.N. Development Public Company Limited (LPN.BK)

Q3 202630 Jul – 9 Oct 2026

▲3▼1

LPN pushes rentals, online sales and new launches to offset weak low-rise demand

Rental demand and yield focus LPN says rental demand is surging as buyers delay purchases. Its rental projects post high occupancy (over 90%) and yields of 6.5-7.5%, giving steady cash flow and supporting earnings while the for-sale market recovers.
Shows a key new demand driver that supports LPN's revenue and offsets weak condo sales.
New projects and online sales push LPN launched an online sales platform and plans three new projects worth over 2.7 billion baht in the second half. It also opened a sales gallery for Lumpini Park Bang Wa and got EIA approval for Lumpini Park on Nineteen, adding future revenue.
Highlights concrete new sales channels and project pipeline that can drive future transfers and bookings.
Presale with guaranteed returns LPN opened presale for Lumpini Park Bang Wa Interchange, offering a 6% return guarantee for six years and discounts. This targets investors and aims to lock in sales for the 862-unit project, supporting future revenue.
A specific sales event that could boost bookings and cash flow, directly affecting LPN's outlook.
Weak low-rise market and floods Tris Rating says Bangkok floods are worsening an already weak housing market. Low-rise sales fell 16% in the first half, which could slow LPN's inventory clearance and cash collection, though LPN's exposure is moderate.
Provides the main counterweight: a real risk that could pressure LPN's sales and transfers.

September 202630 Jul – 9 Oct 2026

▲3▼1

LPN pushes rentals, online sales and new launches to offset weak low-rise demand

Rental demand and yield focus LPN says rental demand is surging as buyers delay purchases. Its rental projects post high occupancy (over 90%) and yields of 6.5-7.5%, giving steady cash flow and supporting earnings while the for-sale market recovers.
Shows a key new demand driver that supports LPN's revenue and offsets weak condo sales.
New projects and online sales push LPN launched an online sales platform and plans three new projects worth over 2.7 billion baht in the second half. It also opened a sales gallery for Lumpini Park Bang Wa and got EIA approval for Lumpini Park on Nineteen, adding future revenue.
Highlights concrete new sales channels and project pipeline that can drive future transfers and bookings.
Presale with guaranteed returns LPN opened presale for Lumpini Park Bang Wa Interchange, offering a 6% return guarantee for six years and discounts. This targets investors and aims to lock in sales for the 862-unit project, supporting future revenue.
A specific sales event that could boost bookings and cash flow, directly affecting LPN's outlook.
Weak low-rise market and floods Tris Rating says Bangkok floods are worsening an already weak housing market. Low-rise sales fell 16% in the first half, which could slow LPN's inventory clearance and cash collection, though LPN's exposure is moderate.
Provides the main counterweight: a real risk that could pressure LPN's sales and transfers.

Latest30 Jul – 9 Oct 2026

▲3▼1

LPN pushes rentals, online sales and new launches to offset weak low-rise demand

Rental demand and yield focus LPN says rental demand is surging as buyers delay purchases. Its rental projects post high occupancy (over 90%) and yields of 6.5-7.5%, giving steady cash flow and supporting earnings while the for-sale market recovers.
Shows a key new demand driver that supports LPN's revenue and offsets weak condo sales.
New projects and online sales push LPN launched an online sales platform and plans three new projects worth over 2.7 billion baht in the second half. It also opened a sales gallery for Lumpini Park Bang Wa and got EIA approval for Lumpini Park on Nineteen, adding future revenue.
Highlights concrete new sales channels and project pipeline that can drive future transfers and bookings.
Presale with guaranteed returns LPN opened presale for Lumpini Park Bang Wa Interchange, offering a 6% return guarantee for six years and discounts. This targets investors and aims to lock in sales for the 862-unit project, supporting future revenue.
A specific sales event that could boost bookings and cash flow, directly affecting LPN's outlook.
Weak low-rise market and floods Tris Rating says Bangkok floods are worsening an already weak housing market. Low-rise sales fell 16% in the first half, which could slow LPN's inventory clearance and cash collection, though LPN's exposure is moderate.
Provides the main counterweight: a real risk that could pressure LPN's sales and transfers.