Commercial Real Estate Hall of Fame: Marcus & Millichap’s Ray Giannini
Every year, Midwest Real Estate News inducts a new class into our Midwest Commercial Real Estate Hall of Fame. Last year was an exception. Today we’re looking at the career of one of those new employees, Ray Giannini, Senior Managing Director of Investments at Brookfield, Wisconsin, Marcus & Millichap office.
Ray Giannini has worked in the real estate industry for the last 25 years and has specialized in real estate brokerage for senior housing. What does he enjoy most as a broker? He helps his customers solve problems.
“The stores that I sell often have problems with capacity utilization or operations. I feel that I can really help my customer achieve their selling price and offer the buyer added value, ”said Giannini. “Sometimes value is an asset that can only be unlocked by understanding the nuances of this specialized company and its sources of reimbursement.”
There are numerous challenges Giannini can point out that have emerged in his career, but the COVID-19 pandemic has placed a particularly heavy toll on people in the senior living space by locking down facilities and freezing entries.
“It can be said that the epicenter of COVID was skilled care facilities; these facilities make up about 50 percent of my practice, ”said Giannini. “I’ve seen my clients grapple with this unique topic with great courage and determination. I also tried to offer them help and guidance. “
That being said, Giannini said there are many challenges in selling senior housing as there is massive competition, as well as many regulatory and reimbursement issues that need to be considered before closing a deal.
How and why he was successful in selling senior housing, Giannini points to his background working for a company that owned this type of property nationally, as well as CPA.
“I feel like I can understand this type of business and what my customers are going through,” said Giannini, “in addition to handling and understanding their financial problems and presenting them in a way that a buyer will understand and can benefit from it. “
Giannini also believes that his collaboration with Marcus and Millichap has resulted in much of his success, and points to the resources and training his company offers as helpful tools in meeting customer needs.
Outside of the office, Giannini is a voracious reader and enjoys spending time with his family. He also serves as a pastor in his Church in Milwaukee.