Marcus & Millichap Target Of Cyber Attack

Marcus & Millichap targeted in cybersecurity attack, CEO Hessam Nadji (Marcus & Millichap)

Marcus & Millichap, the commercial real estate brokerage, said it was the target of a cyber attack. So far, there’s no evidence of a data breach.

The attackers targeted information technology systems, the Calabasas, California-based firm said in a Sept. 20 filing. Cybersecurity experts restored and secured essential systems “with no material disruption to the business,” according to the filing.

“There is no evidence of any material risk or misuse relating to personal information,” the company said.

Marcus & Millichap’s insurance is expected to cover most of the costs related to the incident, and an investigation is underway, said the company, which specializes in investment sales and financing, as well as research and advisory services, in the U.S. and Canada. The company didn’t respond to a request for comment.

Unique cybersecurity incidents rose 51 percent last year from 2019 as the world went into Covid lockdown and remote work became the norm, according to research by cybersecurity company Positive Technologies. About 86 percent of the attacks were aimed at organizations.

Earlier this year, cyber attackers breached the IT network of Douglas Elliman Property Management, the management arm of the New York brokerage, compromising the personal information of thousands of New York residents.

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