IPA Capital Markets Hires Ryan Demadis as Managing Director in Boston to Expand Eastern Region Platform

Institutional Property Advisors, the debt and equity advisory division of Marcus & Millichap (NYSE: MMI), has hired Ryan Demadis as a managing director in its Boston office, the firm announced July 17, 2026. Demadis will report to Marc Sznajderman, senior managing director and head of production for the Eastern region.

Demadis Brings $1 Billion in Closed Financing to IPA Capital Markets

Demadis has closed more than $1 billion in debt and equity financing across a range of asset classes, with a primary focus on industrial and multifamily properties throughout the Northeast. His experience spans ground-up construction financing and structured transactions, and he has worked with capital sources including life companies, Fannie Mae, Freddie Mac, banks, debt funds, and institutional equity investors.

Prior to joining IPA Capital Markets, Demadis served as a senior vice president with NorthMarq for more than a decade. Earlier in his career, he was part of the office leasing and investment sales team at RM Bradley in Hartford, Connecticut, where he focused on tenant and landlord representation.

Demadis holds a Bachelor of Science degree in real estate and urban economics with a concentration in finance from the University of Connecticut School of Business. He is an active member of NAIOP and REFA, and serves as vice president of the board of The RiseUP Group, a nonprofit focused on youth development, mentoring, and public art in Connecticut.

"Ryan brings significant capital markets experience, deep lender relationships and a strong track record advising clients across industrial, multifamily, and other property types," Sznajderman said. "His expertise in construction financing and structured transactions will be a valuable addition as we continue to expand IPA Capital Markets' production capabilities throughout the Eastern region."

Boston as a Hub for Eastern Region Capital Markets

The hire positions Boston as a key node in IPA Capital Markets' Eastern region strategy. Boston is a gateway market with deep pools of institutional capital active across multifamily, industrial and logistics, and life science properties. By placing a managing director in the city who reports directly to the Eastern head of production, IPA Capital Markets is building out regional capital markets capacity that can serve owners across New England and the broader Northeast corridor.

Northeast property owners are navigating a complex financing environment, including refinancing challenges on assets originated during the low-rate era, elevated construction costs, and tighter bank lending standards that have pushed sponsors toward life companies, debt funds, and structured capital solutions involving mezzanine debt and preferred equity. Demadis' specialization in ground-up construction and structured transactions aligns directly with those market conditions.

Construction and Structured Finance Expertise Addresses Market Demand

The emphasis on construction financing and structured transactions in Demadis' profile reflects a broader shift in capital markets activity. Banks have reduced construction lending exposure in recent years, increasing demand for advisors capable of assembling multi-tranche capital stacks that blend senior debt, mezzanine, and preferred equity. Owners facing loan maturities or rate resets have also turned to recapitalizations and rescue capital rather than straightforward refinances, making structured advisory expertise more valuable.

Demadis' focus on industrial and multifamily tracks with sectors where institutional capital demand has remained durable. In the Northeast, e-commerce, nearshoring, and supply-chain investment continue to support demand for modern logistics and industrial space, while multifamily fundamentals remain supported by household formation and constrained new supply in many submarkets. Both sectors require increasingly sophisticated financing structures as lenders apply tighter underwriting standards.

IPA Capital Markets Deepens Institutional Platform

Institutional Property Advisors operates as Marcus & Millichap's institutional brand, providing investment sales and capital markets services for large-scale commercial real estate transactions across North America. IPA Capital Markets, the debt and equity advisory arm within that platform, works with the same range of capital sources — life companies, agencies, banks, debt funds, and institutional equity — that Demadis has cultivated throughout his career.

The Boston hire is part of a broader industry trend in which full-service brokerage and advisory firms have expanded their capital markets teams to capture fee revenue tied to refinancing activity, portfolio recapitalizations, and construction financing at a time when outright investment sales volume has been more volatile. Competitors including CBRE, JLL, Cushman & Wakefield, and Newmark have similarly invested in senior capital markets talent in regions with concentrated refinancing risk and active development pipelines.

For Marcus & Millichap, deepening IPA Capital Markets' Eastern region capabilities allows the firm to compete for larger, more complex institutional mandates that go beyond traditional investment sales brokerage.

Sources

Institutional Property Advisors — IPA Capital Markets Bolsters Its Eastern Region Capital Markets Team (July 17, 2026)