Miami State of The Market

Michael Comras is President and CEO of The Comras Company of Florida, a Miami Beach- based full-service real estate brokerage company founded in 1992. Comras specializes in the leasing and sale of urban and suburban retail properties across South Florida. As a principal in various development entities, Michael also has been involved in the construction, leasing and sale of properties that have evolved into some of the region’s top retail and entertainment destinations. Michael’s talent for seeing transactions from the perspectives of both owners and tenants has generated phenomenal success for once-languishing urban cores. He is extremely active in Miami’s emerging neighborhoods, including the burgeoning Wynwood Arts District, Coconut Grove, Design District and Downtown Miami. His influence also stretches beyond Miami’s urban core through various leasing assignments in Miami-Dade, Broward, and Palm Beach Counties. Clients represented by or located in a Comras property include Polo Ralph Lauren, Sephora, Nike, Forever 21, Apple, Le Pain Quotidian, Capital One Bank, BCBG, J Crew, Madewell, Sephora, Suit Supply, Lucky Strike, Bonobos, Sugarcane, and Tesla to name a few. On Miami’s mainland, Comras recently spearheaded the investor groups’ acquisitions of the lifestyle centers CocoWalk in Coconut Grove and Shops at Sunset Place in South Miami. His latest venture, BLVD at Lenox, a 200,000 square foot, multi-story retail development, features Target’s long-awaited debut on South Beach. Among the firm’s renown redevelopment achievements are the conception of Miami Beach’s Collins Avenue Fashion District and the renaissance of the historic Lincoln Road promenade. These achievements have culminated in Comras’ $370 million sale of an entire Lincoln Road blockfront, the largest sale of a retail property in Miami-Dade County history. New York-born, Comras holds a BA from the University of Miami and an MBA in banking and finance from Pace University. A licensed real estate broker in the state of Florida, he is an active member of the International Council of Shopping Centers and the Realtor Association of Greater Miami and the Beaches. Comras participates in several business improvement districts and civic committees. He serves on the University of Miami Real Estate Advisory Board and is a sought-after panelist for real estate programs organized by ICSC and a variety of commercial real estate news providers. A former chairman of The Lincoln Road Marketing Association, he has also served on the Miami Beach Mayor’s Blue-Ribbon Task Force on Tourism-Retail- Nightlife/Dining. Charitable activities include The AIR Society of National Jewish Health (founding member), Women of Tomorrow, Bass Museum, Mount Sinai Medical Center and Miami Children’s Hospital.

Lissette M. Calderon is the Founder and CEO of Neology Group, a vertically integrated real estate firm known for design-led development, cultural relevance, and disciplined execution. Under her leadership, the firm develops residential platforms across a range of neighborhoods, creating intentionally designed environments that deliver durable, risk- adjusted returns. Founded on Calderon’s belief that cities evolve neighborhood by neighborhood, Neology integrates development, construction oversight, and operations to bring clarity, identity, and cohesion to both established and emerging districts. The firm has delivered over 3,000 residential units across Miami’s urban core, with a portfolio spanning nearly 5 million square feet and valued at more than $2 billion. An additional 2,000+ units are in pre- construction and permitting across South Florida. A Miami native, Calderon began her impact along the Miami River with Neo Lofts, a pioneering residential development that helped catalyze the river’s transformation. She has since expanded that approach to neighborhoods like Allapattah, with developments including No. 17 Residences, The Julia Residences, Fourteen Main Street Residences, and most recently, the Rubell Arts District. Calderon earned a Bachelor of Science in Economics, magna cum laude, from the Wharton School at the University of Pennsylvania.

Matthew M. Baron is the President of Baron Property Group. Since 2005, Matthew has acquired and developed over $1.5 billion worth of property in NY and Los Angeles. Mr. Baron currently sits on the Board of Directors of the Long Island City BID, and is also a member of the Board of Directors of Doorkee, which is a company he helped found. Mr. Baron was also an Adjunct Lecturer at New York University’s School of Continuing and Professional Studies where he taught a course on Real Estate Development. Mr. Baron holds a BS in Finance from NYU Stern and an MBA from Columbia Business School.

Jeffrey Ardizon is Principal at The Estate Companies, a Miami-based full-service, vertically integrated developer, owner and operator of residential communities throughout the tri-county region, and one of the largest and most active multifamily developers in Florida. The firm is best known for its institutionally recognized Soleste brand which features Class A multi-family communities throughout South Florida’s urban core and submarket locations. Mr. Ardizon has been credited for identifying and evaluating off-market opportunities, temporary market dislocations, special workouts, overall capitalization and general overall direction of the firm. The Estate Companies has implemented its strategic plan is to increase its focus on development in Broward and Palm Beach counties, and has many luxury projects in various stages of development including Pompano Beach, Dania Beach, Riviera Beach, West Palm Beach, three projects in Hollywood, two in North Miami Beach, and Spring Gardens, among others. Mr. Ardizon was instrumental in structuring and executing one of South Florida's first opportunity zone transactions, Soleste Grand Central, a 360-unit Class A multifamily project in Downtown Miami. Prior to joining The Estate Companies, Mr. Ardizon was the co-founder and principal of ECI, a real estate investment, management and development firm based in South Florida. The firm focused on providing GP/LP equity and debt for multi-family real estate developments and value-add opportunities across a diverse portfolio of asset classes. During that time, Mr. Ardizon was credited for strategically structuring and creating one of the more notable single-family offices in South Florida. Mr. Ardizon began his real estate career with one of the largest nationally ranked advisory firms in the country, where he led the firm's real estate practice for nearly a decade. He represented some of the largest real estate developers, REIT’s, operators and sponsors in the region. Under his leadership, the firm was awarded the top real estate tax firm by various publications. Mr. Ardizon was a top revenue producer for the firm and quickly gained industry recognition as a leading go-to advisor, advising clients on over $3 billion in transactional value.

W.A. Spencer Morris is Executive Vice President of Allen Morris Residential. He is responsible for overseeing the company’s $1.2 billion development pipeline. His focus is on strategic planning, acquisitions, as well as structuring and financing mixed-use projects throughout the Southeast. Since joining the firm in 2016, Spencer has acquired and developed key assets in Georgia. Previously, Spencer served as Assistant Project Manager on the 58-story, 1.3 million square foot SLS LUX-Brickell hotel and condominium as well as on other projects with The Related Group in Miami, Florida. Spencer was born and raised in Coral Gables. He graduated with an International Baccalaureate diploma from The American School in Switzerland. He received his BS Degree in Political Science & Spanish from Boston University.

Joseph DaGrosa, Jr. is the Founder and Chairman of DaGrosa Capital Partners LLC (“DCP”). Mr. DaGrosa has over 30 years of experience in successfully investing across a wide range of industries including sports & entertainment, retail, food & beverage, insurance, real estate, hospitality, healthcare, and aviation. To date, Mr. DaGrosa has led investments of approximately $2 billion in capitalized transactions. Mr. DaGrosa also serves as Chairman of a number of DCP’s portfolio companies including: Axxes Capital, an asset management platform focused on providing investment solutions to the underserved accredited investor marketplace worldwide; Kapital Football Group LLC, a soccer platform holding company that invests in controlling and influential minority stakes in leading soccer clubs and academies globally; and Soccerex Ltd., the world’s largest organizer of soccer business conferences. Mr. DaGrosa also served as Chairman of GACP Sports LLC, which acquired F.C. Girondins de Bordeaux, a first division French soccer team. In 2019, Mr. DaGrosa co-founded and served as Co-Chairman of Quinn Residences, a $900 million real estate investment trust focused on the acquisition and development of single-family home rentals in prime rental-growth markets throughout the United States. Quinn Residences is now one of the fastest growing companies in the single-family home rental market. Previously, Mr. DaGrosa was Co-Founder and Senior Partner at 1848 Capital Partners LLC (“1848”), where he was responsible for all aspects of the firm’s private equity investments. In 2003, Mr. DaGrosa and his partners formed Heartland Food Corp. (“Heartland”), an acquisition vehicle that acquired 248 Burger King franchises out of bankruptcy, and successfully co-led the turnaround and sale of Heartland to GSO Capital (now part of Blackstone). In 2008, Mr. DaGrosa co-led the acquisition of Jet Support Services Inc. (“JSSI”), the world’s largest independent provider of warranty and insurance programs for the maintenance of private jets. Mr. DaGrosa served as Vice-Chairman and Co-Chief Investment Officer of JSSI until the sale of the company in 2020 to GTCR. Prior to 1848, Mr. DaGrosa was a Partner at Maplewood Partners LP, a Miami-based private equity firm, where he served as Chief Administrative Partner and Co-Head of Transactions. Mr. DaGrosa began his career in 1986 at Paine Webber, Inc. in the firm’s Capital Markets Division. Mr. DaGrosa serves on the board of directors for Soccerex Ltd., and Brazil Tower Company LP, and previously served on the board of Global Crossing Airlines Group Inc., Eastern Airlines Group Inc., and SMobile Systems, Inc. He also serves on the board of Camillus House, a non-profit organization focused on meeting the needs of Miami’s homeless citizens. Mr. DaGrosa holds a Bachelor of Science degree in Finance, Accounting and Statistics from Syracuse University.

Andrew Dansker is the CEO and founder of Dansker Capital Group, a national mortgage brokerage firm with six U.S. offices and one international office. He oversees a team of 30 professionals originating commercial mortgage debt across all major asset types, with a particular focus on retail and multifamily properties. The firm primarily arranges bank and credit union financing while also executing agency, CMBS, life company, and bridge loan transactions as appropriate. Since its establishment as an independent company in 2020, Dansker Capital Group has placed well over $3 billion in commercial real estate loans nationwide. Andrew believes the middle-market debt marketplace is under-served by professional, high-quality national firms and sees a significant opportunity for an enterprising company to fill that gap. His leadership vision is to build an organization that delivers institutional-quality service, execution, and results to the national middle-market debt space. Andrew is a published industry commentator whose writing on the real estate lending market has appeared in The Commercial Observer, Real Estate Weekly, and New York Real Estate Journal. He is also a frequent industry speaker and contributor at conferences and events organized by Bisnow, GlobeSt, Interface, Commercial Observer, ConnectCRE, and other leading commercial real estate platforms. He has more than 15 years of experience in the real estate industry. Andrew earned a Bachelor of Arts in Political Science from the University of Chicago and a Juris Doctor from New York University School of Law.

Barry Goldstein is an accomplished global executive with more than 30 years of strategic leadership experience, including over 25 years in the hospitality sector. Widely recognized as a transformative leader, Barry excels at driving revenue growth and delivering measurable results by aligning sales, marketing, digital, and technology functions. His leadership is defined by a proven ability to navigate complex organizational change, foster influential relationships, elevate customer experiences, and consistently achieve strong financial outcomes. Throughout his career, Barry has led organizational turnarounds by establishing clear strategic direction, enhancing operational performance, and leveraging innovation and technology to fuel sustainable growth. His forward-looking mindset has enabled companies to outperform in highly competitive and rapidly evolving markets. Most recently, Barry served as CEO of Arch Amenities Group, a premier provider of amenity management and consulting services for residential and commercial real estate, hotels, resorts, and private clubs. He has also held senior executive positions at Wyndham Hotels & Resorts, Starwood Hotels, Cisco Systems, and Panasonic. Barry holds a Bachelor of Science from Columbia University and is a graduate of the Executive Management Program at Harvard Business School.

Tim has over 25 years of experience in the property tax field, focusing on all types of commercial, industrial and multi-family properties. Prior to PTAG, Tim worked for a national property tax consulting firm and also worked with a local County Property Appraiser in Florida.

Chad Musgrove is an Executive Director at PGIM, based in Miami, Florida. In this role, Chad is responsible for driving multifamily loan production, cultivating and managing key client relationships, and delivering customized financing solutions through Fannie Mae, Freddie Mac, and FHA-HUD executions with additional access to the firm’s proprietary capital sources and bridge loan capabilities. With a deep understanding of Agency loan products and credit processes, Chad plays a pivotal role in supporting institutional investors and borrowers across the Southeast and beyond. Before joining PGIM, Chad served as Senior Vice President at M&T Realty Capital Corp. (MTRCC), where he launched the firm’s Florida operations and originated over $500 million in multifamily loans and structured credit facilities. His career also includes leadership roles at Orix Real Estate Capital (Lument), Hunt Real Estate Capital, and Centerline Capital Group, where he structured and managed over $1.5 billion in loans. Chad’s expertise spans permanent Agency financing, balance sheet bridge loans, construction financing, preferred equity, and mezzanine debt, with a proven ability to advise clients on complex transactions through financial analysis, market research, and risk assessment. Chad began his career in New York, gaining experience in underwriting, credit analysis, and strategic business development at Auriemma Consulting Group, Coleman Research Group, and the NYC Department of Finance. His early roles provided a strong foundation in financial services, market research, and corporate strategy. Chad holds a Bachelor of Arts in Economics from Columbia University. He is actively involved in the real estate and local community, having served on the board of Rebuilding Together Miami-Dade and as Vice President of the Real Estate Lenders Association – South Florida. Chad is also a member of the Urban Land Institute, Mortgage Bankers Association, Real Estate Lenders Association, 100 Black Men of South Florida, and Omega Psi Phi Fraternity, Inc.

Modesto “Mo” Millo is Senior Vice President and Division Manager of the Miami Business Unit for KAST Construction, one of Florida’s largest privately held construction management firms. Since launching KAST’s Miami operations in 2017, Mo has helped establish the business as one of South Florida’s leading builders, delivering many of the region’s most notable residential, hospitality, mixed-use and educational projects. With more than 25 years of experience in the construction industry, Mo oversees business development, preconstruction, operations and client relations for the Miami market. Throughout his career, he has led the successful delivery of complex projects while building strong relationships with clients, design teams, trade partners and industry partners. A graduate of the University of Miami College of Engineering, Mo is passionate about developing future industry leaders and fostering a people-first culture centered on safety, teamwork, innovation and excellence. He currently serves on the Advisory Board of the University of Miami’s Murphy Construction Program, helping bridge the gap between academia and industry while supporting the next generation of construction professionals. Outside of his professional responsibilities, Mo is a dedicated advocate for the special-needs community, supporting organizations and initiatives that promote inclusion, opportunity and awareness for individuals and families navigating developmental and physical challenges.

Andrew Barrocas has enjoyed success as a dominant force and respected authority in the New York City real estate industry for many years. In his accomplished career, he has sold over $10-billion worth of property, and managed, trained, recruited and collaborated with the city's top agents and brokers. As CEO and Founder of MNS, Andrew currently oversees more than a billion dollars’ worth of real estate, as well as an exceptional team of talented agents and project managers focused on providing the utmost level of client service. Andrew entered the real estate field after graduating from the WP Carey School of Business at Arizona State University. He went on to achieve instant success and recognition as one of the "Top 30 Brokers Under 30", according to The Real Deal. Over the years, Andrew has been a continually sought-after expert on real estate who has been featured in The New York Times' "The 30-Minute Interview", quoted in all major New York publications, and spotlighted on The Stoler Report. Since founding MNS in 2006, Andrew has grown the company substantially in terms of its revenue and its team, which is now over 125 people. He also serves his industry as a licensed teacher through the State of New York, passing on his knowledge and array of professional experience of real estate sales to real estate brokers and salespersons. Andrew is also an active member of The Real Estate Board of New York (REBNY), The Community Housing Improvement Program (CHIP), Young Jewish Professionals (YJP) and Young Presidents Organization (YPO). He and his wife Rachel are the proud parents of three beautiful girls – Cayden, Ella and Zoe.

Matthew leads Marsh’s Southeast Construction Practice. An expert in project specific construction risk, Matthew spend the majority of his time working directly with clients on project strategy, planning and building resources and bespoke market solutions. Highly focused on delivering service excellence, Matthew and his team can provide construction expertise nationally and have extensive experience in high-risk projects as well as a deep understanding of solutions and markets designed for unique geographically challenged exposures across varied project types: multi-family, condominium, master plan communities, SFR/BTR, mixed-use, office, adaptive reuse/renovation, rail/civil infrastructure, airports/seaports, manufacturing, and entertainment venues. Prior to joining Marsh in June of 2021, Matthew led Aon’s Construction Service Group for the state of Florida. A two-time University of Miami graduate, Matthew has called Miami home for the past 24 years.

Jose A. Rodriguez has a practice focusing on real estate development and corporate matters associated with real estate development. He has extensive experience dealing with the needs of ultra high net worth entrepreneurs and international clients. His primary focus is representing many prominent South Florida real estate developers. He has dedicated himself to structuring complex business and real estate ventures, corporate matters, workouts, and coordinating and closing large real estate related financed transactions. Mr. Rodriguez has represented parties in a significant number of luxury high rise condominium and vertical subdivision projects during the last 25 years. His practical, goal-oriented, and knowledgeable approach to business and real estate ventures, has added material value and assisted his clients in accomplishing their unique objectives. Mr. Rodriguez leads the real estate team of attorneys at the firm with transaction values typically in excess of $800 million annually. A graduate of Nova Southeastern University, Mr. Rodriguez received his J.D. degree with high honors in 1993 and his Bachelor of Science in Finance and Multinational Business from Florida State University in 1989. Mr. Rodriguez is a member of The Florida Bar sections of Real Property, Probate and Trust Law.

John Chibbaro focuses his legal practice on complex environmental and land use matters. He advises developers, utilities, and other clients on all aspects of development, including permitting and entitlement strategy, contamination assessment and remediation, and government approvals, as well as related political and public relations considerations. John represents clients before local, state, and federal agencies and regularly advises on wetlands and coastal permitting matters, including those implicating U.S. Army Corps of Engineers guidelines and the Endangered Species Act. His practice is national and multi-jurisdictional in scope, with experience across infrastructure, retail, transit, and residential and industrial development. He has represented national homebuilders in Florida and other states in pre-acquisition site analysis and post-acquisition remediation. His work also includes developing environmental diligence and remediation strategies, negotiating environmental provisions in transactional documents, navigating state remediation and brownfield programs, and evaluating environmental insurance options.

Robert Gilman, CPA, CGMA, is an accounting and audit partner at Anchin and Co-Practice Leader of the Firm's Real Estate Industry Group. His practice covers a wide range of services for his clients who are mainly involved in the commercial, residential and development of real estate. These services include due diligence on acquisitions, tax structuring on deals, securing financing, and assisting with client investor relations for both domestic and international investors. Rob also advises clients with financial and estate planning, budgeting, tax planning, and cash flow strategies. Rob is a member of the American Institute of Certified Public Accountants (AICPA), the New York State Society of Certified Public Accountants (NYSSCPA) and the Real Estate Board of New York (REBNY). He is involved with a number of Real Estate industry organizations and is actively involved with the Long Island Chapter of the March of Dimes, which he was recently honored for.

Javi Vazquez is a land use and zoning attorney focused on helping developers, property owners and builders navigate the complex web of entitlements and required governmental approvals to realize transformative real estate projects throughout South Florida. Javi's practice spans large-scale residential communities, mixed-use urban centers, educational institutions, medical complexes, industrial facilities, and retail development projects. His work includes zoning approvals, land use plan amendments, variances, site plan approvals and most other entitlements required for his clients and their proposed developments. Javi’s work also includes existing developments and the various regulatory issues property owners face, such as code enforcement violations and fine reductions. Javi regularly appears before planning and zoning boards, municipal commissions, and administrative agencies, including the Department of Environmental Resources Management (DERM). He is deeply experienced in jurisdictions including Miami-Dade County, City of Hialeah, City of Miami, Homestead, Florida City, North Miami Beach, and others across the region. Often engaged early in a project’s life cycle, Javi represents clients ranging from national homebuilders and institutional investors to local entrepreneurs and nonprofit organizations, collaborating with their architects and design teams to untangle problems and shape proposals to position them for approval. He is skilled in identifying potential roadblocks and developing strategies to resolve them efficiently. Javi draws on longstanding relationships with planning directors, municipal staff, and elected officials to advance his clients’ interests. Strategic and experienced, Javi understands how to get projects built, which is especially helpful in getting them approved.