Palm Beach State of the Market

https://www.bizjournals.com/southflorida/news/2025/09/19/nathan-rich-rich-global-empire.html

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.

As Senior Vice President / Division Manager of Kast’s South Florida Business Unit and Partner in the firm, Mike leads the Business in our region and is based at the company’s West Palm Beach corporate headquarters. Mike has 30 years’ experience as a General Contractor in the South Florida Market and has been with KAST for ten of those years. His experience and expertise include the successful pursuit, construction, and delivery of Luxury High-rise Condo, Hospitality, and Multi-Family projects. “We are proud to build our business based on highly valued relationships and uncompromising standards. I am driven by an exciting Culture, accountability, and results.” Mike is a ULI member and serves on the Multi-Family Council. In the community Mike is proud of his charitable work benefiting such organizations as, Project Lift, American Heart Association, Boys & Girls Clubs, and Quantum House. Mike and his wife Lisa reside in Jupiter, and he is a proud girl dad to two beautiful daughters. Mike’s vision for KAST along with his partners in the firm is to lead the organization into the next generation of the company building on the solid foundation that exists today. With their exceptional leadership KAST is strategically positioned to serve and succeed with our clients. Kast exists to make visions become reality. We build people, lead teams, and execute our mission focused on collective success.

As General Manager of Suffolk’s East Coast of Florida Region, Tom is responsible for overseeing project teams from the earliest preconstruction efforts through project closeout and beyond. His leadership and operational skills are critical to providing effective guidance for the project team. Tom has over 30 years of industry experience. Prior to his new role at Suffolk, he was Senior Vice President of Florida at a Top 10 US General Contractor according to ENR Top 400, overseeing the Florida Business Unit. Previously, Tom worked on building the Mitsubishi North American Headquarters which is land-leased from the Georgia Port Authority. With a diverse array of projects across Florida, including the Fidelity Information Services (FIS) Headquarters in Jacksonville, Venice Sarasota Memorial Hospital, and Gulfshore Playhouse in Naples, Tom brings a substantial wealth of knowledge to his role at Suffolk. A Purdue University graduate, Tom holds a Bachelor of Science in Construction Engineering and Management. He is currently based in South Florida, where he resides with his wife and children.

Nick Rojo is the Co-Founder and President of Affiliated Development. Mr. Rojo has more than 13 years of experience in the acquisition, finance, management, rehabilitation and development of residential and commercial real estate. Nick is a South Florida native and got his start in the real estate industry in 2006 as an investment banker at Wachovia Securities. At Wachovia, Nick focused primarily on providing capital raising and advisory services to public and private homebuilders and developers. Nick gained experience working on a variety of transactions from traditional investment banking – high grade and high yield debt, credit facilities, common and preferred equity, private placements and M&A – to real estate asset-specific transactions, such as project finance and facilitation of bulk land sales. Mr. Rojo was afforded the unique benefit of structuring financings at the peak of the market cycle and then working with clients to restructure during the recession. He left Wachovia to return to South Florida in 2009 to opportunistically acquire property at the height of the recession. After acquiring and rehabilitating property with friends and family capital, in 2011 Mr. Rojo teamed up with a family office and spearheaded their efforts to acquire residential and commercial property throughout the state of Florida. During this time, Mr. Rojo met Jeff Burns and began evaluating and later investing in projects together. Nick and Jeff saw the opportunity to leverage their finance backgrounds in order to develop mixed-use residential projects in the South Florida market. In 2014, Mr. Rojo formally teamed up with Mr. Burns to expand Affiliated Development’s presence in Florida. As a result of the partnership, Affiliated Development has gone on to undertake numerous mixed-use multifamily projects in various Florida markets and has earned a reputation as one of South Florida’s most dynamic and impactful development firms. Every project has been a public- private partnership and has incorporated a substantial public finance component, such as Tax Increment Financing (TIF), Community Redevelopment Agency (CRA) financing, Tax Exempt Bonds, Low Income Housing Tax Credits (LIHTC), Department of Housing & Urban Development financing (HUD) and local government general revenue bonds. Mr. Rojo graduated cum laude with a B.S.B.A. in Finance and New and Small Business Management from Georgetown University in Washington, DC, where he was also a four-year letterman and Academic All-American on the Georgetown Hoya football team. Mr. Rojo is a resident of West Palm Beach, FL, and sits on the Broward County Sheriff’s advisory council. He is also a board member of Student Aces, an organization that provides leadership training, coaching, mentoring and scholarships to local high school student athletes.

Jake Geleerd is the CEO and Co-Founder of Tortoise Properties, a real estate firm specializing in commercial, multifamily, and mixed-use assets in South Florida. With over 30 years of experience, he is the developer behind Tortoise One, a mixed-use community in downtown West Palm Beach. Geleerd serves on the Executive Committee and is a Board Member and Chairman’s Council of the Palm Beach County Business Development Board and the Economic Council of Palm Beach County. Previously, he was the owner and CEO of Toronto’s Rogers Centre/SkyDome. A University of Illinois graduate, Geleerd began his real estate career with Sam Zell at Equity Group.

Stuart Swann is Managing Director at TCG Real Estate, bringing over 18 years of experience in real estate investment and private equity. Based in West Palm Beach, he currently also serves as Managing Director at both Sunrise Realty Trust and Southern Realty Trust, where he oversees investment management and strategic growth initiatives. Previously, Stuart was Managing Director at BentallGreenOak (BGO), where he specialized in private equity, real estate development and deal execution. He began his career as an analyst at Morgan Stanley in the Investment Banking Division. Stuart graduated magna cum laude from Washington & Lee University and has a graduate degree (MSRED) from Columbia University.

Brian Seymour co-chairs Gunster’s Real Property practice. He represents clients throughout Florida who need experienced land use and property rights counsel. Since joining the firm out of law school, Brian has represented land owners and developers in matters of land use, zoning, comprehensive planning and environmental resource permitting, as well as eminent domain, land use and constitutional property rights litigation. Brian understands the role of the political process in land use decisions, regularly balancing legal rights and political realities in advising clients on how to achieve their goals in ways that make business sense. Brian has worked on properties and projects related to all aspects of Florida’s economy – residential communities, retail, office and industrial developments, mixed-use, transportation and logistics, agriculture, mining, education, and sports facilities. Brian’s varied experience also helps him lead the firm’s Real Property practice, which includes all aspects of land use, real estate transactions, development, environmental matters, eminent domain and property rights litigation. With two children who he hopes will live and work in Florida, Brian is committed to his local community. Brian is active in many local organizations, including the Palm Beach County Business Development Board, Chambers of Commerce, The Economic Council of Palm Beach County, and the Jewish Federation of Palm Beach County, as well as many political activities. Brian also served as the vice chair of the Florida Elections Commission and is an active member of Leadership Florida. He is also a member of the board of trustees of the Jewish Federations of North America and has chaired its Emergency Committee, responding to natural disasters throughout North America. Brian has worked on properties and projects related to all aspects of Florida’s economy – residential communities, retail, office and industrial developments, mixed-use, transportation and logistics, agriculture, mining, education, and sports facilities. Brian’s varied experience also helps him lead the firm’s Real Property practice, which includes all aspects of land use, real estate transactions, development, environmental matters, eminent domain and property rights litigation. With two children who he hopes will live and work in Florida, Brian is committed to his local community. Brian is active in many local organizations, including the Palm Beach County Business Development Board, Chambers of Commerce, The Economic Council of Palm Beach County, and the Jewish Federation of Palm Beach County, as well as many political activities. Brian also served as the vice chair of the Florida Elections Commission and is an active member of Leadership Florida. He is also a member of the board of trustees of the Jewish Federations of North America and has chaired its Emergency Committee, responding to natural disasters throughout North America

Victor Ballestas is a Principal of Integra Investments. Ballestas is focused on managing and enhancing the company’s business development structure and spearheads the individualized development and marketing campaigns for Integra’s numerous projects. Immersed in the real estate industry for most of his life, Ballestas began his career at WCI Communities, a publicly traded residential development company, rising from Development Assistant to Division President of the east coast. While at WCI Communities, Ballestas administered more than 15 ultra-luxury high-rises in less than ten years. Following WCI Communities, Ballestas managed the south east division of Wheelock Street Capital, a private equity investment fund supported by Baupost, actively investing in numerous real estate opportunities during the most recent distressed real estate cycle. In 2009, Ballestas served as Regional Director for ST Residential, a subsidiary of Starwood Capital, leading the divestiture of its Corus portfolio including more than 2,200 boom-era condominiums within 13 projects in South Florida, including Paramount Bay, Jade Ocean, Mint, and Infinity. For his efforts, Ballestas was named a Power Leader by The South Florida Business Journal.

Mr. Schlank is a Founder and Managing Partner of Savanna. At Savanna, Mr. Schlank sits on the investment committee and is in charge of construction and redevelopment and shares responsibilities for asset management, sales and marketing and acquisitions. Mr. Schlank has overseen the acquisition and redevelopment of more than 70 real estate assets, comprising over 20 million square feet of space and nearly $3.8 billion of total capitalization, including raw land development sites, apartments, office buildings, industrial to residential conversions, retail and warehouse/distribution properties. Prior to founding Savanna, Mr. Schlank was a project manager for the Westside Federation for Senior Housing, a New York-based developer of low-income housing. Mr. Schlank received an MS in Real Estate Development from the Columbia School of Architecture and a BA in Urban Studies from the University of Pennsylvania. Mr. Schlank is an Assistant Adjunct Professor at Columbia University where he teaches a seminar in Real Estate Finance to graduate students in the Columbia Architecture School’s Real Estate Master’s Degree Program.

Bryan in charge of tour Project Arte at the District in Northwood WPB . Bryan J Benhamou is President at Immocorp Capital, where he leads key aspects of the firm’s growth — including acquisitions, capital strategy, and investor relations. He is responsible for sourcing new development opportunities, structuring complex deals, and managing relationships with financial institutions and equity partners. In addition to his investment leadership, Bryan plays an active role in guiding the execution of major real estate developments, overseeing planning, budgeting, and delivery to ensure every project meets Immocorp’s performance and design standards. With a strong focus on value creation, disciplined execution, and long-term vision, Bryan helps drive Immocorp Capital’s continued expansion across South Florida. With a Focus on WPB If you needed further information please communicate directly with Bryan copied on this email .

J.C. de Ona leads Centennial Bank’s operations across Miami-Dade, Broward, and Palm Beach counties, focusing on strategic growth, market expansion, and lending. With more than 27 years of banking experience, he specializes in structuring complex financing solutions across commercial real estate and diverse asset classes, working closely with clients to achieve their business goals. Before joining Centennial Bank through its acquisition of Stonegate Bank, J.C. held leadership roles at Stonegate Bank, Wachovia (now Wells Fargo), and Regions Bank, building deep expertise in private banking, commercial lending, and operational management. A graduate of Florida International University, he holds both bachelor’s and master’s degrees in business. His professional excellence has earned recognition from the South Florida Business Journal (“40 Under 40”), Lifestyle Magazine (“Up & Comers”), and South Florida Business & Wealth (“Apogee Award”).

Peter Stromberg, president at garciastromberg architecture and interior design studio. For over 25 years they have created solutions for projects ranging from large scale urban and resort projects to boutique residential dwellings. His design vision is the guiding force behind a number of notable national and international projects. As a graduate of Mississippi State University, he brings to the firm a thorough understanding of contemporary as well as vernacular theories of architecture and the complexities involved in putting projects together. His passion is raw creation through unique ideas and finds inspiration mainly in the natural environment - space, light, sound, texture, color and form. Peter’s work embodies all forms of media. He believes art, through painting, sculpture and music is free of boundaries and allows form to flow fluidly helping him constantly learn and perform better as an architect.

Since arriving in 2004, Roger Grave de Peralta has continued to grow within the firm culture and currently serves as Vice President of Architecture at garciastromberg. Roger is a licensed Architect in the State of Florida and holds a Master in Architecture with distinction from the Graduate School of Design at Harvard University and a Bachelor of Design in Architecture with highest honors from the University of Florida. Roger’s experience in the architectural field includes a wide range of projects from low income public housing to high end residential condominiums and private homes. He has extensive experience in resort and hospitality projects including both new construction and renovation.

An honor graduate of the University of Miami, Jorge is the driving force behind the firm’s growth and development since 1987. Prior experience includes earning a reputation with highly acclaimed architectural as well as land development firms, where he grew to understand the importance of leadership within an organization, the community, and the unique ability of integrating innovative architecture with rational business criteria in a balanced format. Jorge’s primary focuses are corporate leadership, design, vision, collaboration, and growth development for the firm’s philosophical ideals. Jorge is a licensed architect in thirteen states with expertise in the design of national and international facilities including hotel & resorts, commercial, institutional, mixed-use developments, and residential, projects. He is a sought-after authority on the realities and challenges clients face in the planning, approval and entitlement processes found in today’s challenging development environment.

Since joining the DDA in November 2007, Teneka has exemplified dedication and visionary leadership, rising through the ranks to become Executive Director in June 2024. Her background spans community events, marketing, and business development, complemented by a B.S. from the University of Florida and an MBA from Nova Southeastern University. She completed the ULI Southeast Florida, Caribbean Leadership Institute in August 2020, a program whose 2020 class graduated 27 professionals from across real estate development, planning, design, engineering, finance, and law. Teneka serves as a board member of Florida Downtowns, Inc., and the International Downtown Association. Now at the helm of the DDA, as well as Executive Director of the West Palm Beach Arts and Entertainment District, she leads transformative initiatives that uplift Downtown West Palm Beach and foster a thriving, connected community.

Todd Rosenberg is co-founder and managing principal of Pebb Capital, a diversified, multi-strategy real estate and investment firm. Rosenberg oversees the strategic development of the company’s ventures and guides high-level endeavors from conceptualization to execution. As a member of a prominent South Florida real estate family, Rosenberg credits his intuitive approach to a close-knit upbringing surrounded by industry leaders. His extensive experience and innate entrepreneurial spirit have transformed Pebb Capital into a real estate investment force since its founding in 2014. The company has since aggregated a real estate development and capital investment portfolio valued at over $2 billion in student housing, retail, office, hospitality, multi-family, co-living, and parking, as well as lending and preferred equity ventures. Before helming Pebb Capital, Rosenberg was co-chief financial officer and in-house counsel for Pebb Enterprises, his family-operated business. He was previously a securities litigator at Fowler White Burnett and Homer Bonner & Delgado in Miami. Rosenberg holds a bachelor’s degree in speech communications from Syracuse University and a juris doctorate from Cardozo School of Law at Yeshiva University in New York.

Mitch Heifetz serves as a Managing Director at Newmark, where he focuses on the South Florida retail market. Based out of Boca Raton, he leads the firm’ s Palm Beach County retail and restaurant leasing efforts. Prior to moving to South Florida, he was based in the firm’s New York headquarters for nine years. He specializes in both tenant and landlord representation, advising retail clients across premier urban and suburban markets across the country. His portfolio includes national rollout strategies and flagship leases for a wide range of retailers, including CAVA, PF Chang’s, B&B Italia, Vineyard Vines, Venchi, Yard Bird, Rosa Mexicano, Club Champion, 2nd Street USA, Blinds To Go, and Emigrant Bank to name some. Mitch earned his bachelor’s degree from Syracuse University’s Whitman School of Management. He is an active member of ICSC.

As the Principal In Charge of JRM South, Anthony leads his team in executing strategic construction plans by establishing priorities and determining resource allocation to guarantee that projects are delivered both efficiently and effectively. Leading a team of Project Directors, Project Managers and Superintendents, Anthony is responsible for the proper administration of all construction contracts and the documentation of all necessary information. With over 30 years of experience, Anthony has managed a variety of construction projects ranging from minor renovations to multi-floor interior fit-outs for Fortune 500 companies, law firms, financial services and banking firms, schools, and entertainment firms.

Founder & Chairman of the Board Commercial Financial Management • 55+ years of acquisition and management of real estate totaling over 7 million square feet, focusing on maximization of investment return and partner satisfaction. • Directed ground up development of seven properties, including diverse projects ranging from 20,000 to 500,000 square feet, with the latest being the successful completion of The Bristol, an iconic luxury condominium development located in West Palm Beach, Florida, which has garnered significant attention and admiration since its inception. Initiated in 2016 and delivered in 2019, The Bristol has become a hallmark of high-end living in South Florida, setting new benchmarks for luxury real estate. Initially projected to sell at prices ranging from $1,500 to $1,900 per square foot, The Bristol experienced overwhelming demand and ultimately sold out, with an incredible average price of $2,900 per square foot. This explosive success was underscored by resale values now exceeding $5,000 per square foot, highlighting the property’s desirability and robust market value. The Bristol consists of 69 residences housed within a striking 25-story tower, offering breathtaking views of the Intracoastal Waterway and the Atlantic Ocean. The development features expansive floor plans, luxurious finishings, and top-tier amenities, including a resort-style pool, a state-of-the-art fitness center, private elevator access, and concierge services, all contributing to an unparalleled lifestyle. The impact of The Bristol on West Palm Beach has been profound, as it led to a significant transformation of the area and catalyzed the emergence of a luxe real estate market. The development has attracted affluent residents from Palm Beach Island and beyond, contributing to the city's evolution into a vibrant destination for both luxury living and high profile businesses. This wave of development has inspired additional luxury high-rise projects in the vicinity and facilitated West Palm Beach's emergence as "Wall Street South," with financial institutions and businesses from around the globe establishing a presence in the area. Overall, The Bristol stands not only as a symbol of luxury living but also as a transformative force in the real estate landscape of South Florida, reshaping perceptions of West Palm Beach and enhancing its appeal to the affluent and influential. • Fostered long-term partnerships with multiple stakeholders throughout the development process, ensuring clear communication and shared vision. • Assembled an accomplished team-all of whom worked on The Bristol- for the current project, The Berkeley.

Joey Eichner has over 40 years of experience in the real estate industry, including roles in the brokerage, development, entitlement, property management, and construction management disciplines. His extensive first-hand knowledge across diverse disciplines has made him a seasoned and respected industry leader in the South Florida market. During his initial 22-year tenure at Catalfumo Companies as President of Catalfumo Development (1996-2013), Joey was responsible for over $2 Billion in developmental projects. Those projects included some of the most notable developments along the PGA Boulevard corridor in Palm Beach Gardens, Florida where he transformed more than 300 acres of unentitled prime vacant land into a vibrant mecca of professional office and high-end retail. Such projects include Legacy Place, MacArthur Center, PGA Design Center (PGA Station) and the FPL Corporate Park. Other notable work includes the renovation of the Ocean Mall and development of The Ritz-Carlton Residences, Singer Island. Since returning to Catalfumo Companies in 2018, Joey spearheaded the company’s acquisition of a partially developed 30-acre site and focused on obtaining the approvals and development of 260,000 square feet of office space and 396 residential units. Within six months, he negotiated a single-tenant lease and led the construction of a 64,0000-square-foot built-to-suit office building. The 396 residential units are currently under construction, with development plans for an additional 600 units in the approval stages. In October of 2021, the Catalfumo Companies acquired 11 acres of prime Intracoastal waterfront property for which Joey obtained zoning and site plan approval for the development of 106 ultra-luxury condominium residences. Understanding the inimitability and caliber of the project, the firm negotiated a license agreement with Marriott International to designate the property as The Ritz-Carlton Residences, Palm Beach Gardens. Sales of the condominiums commenced on February 16, 2023. In 2013, Joey Eichner founded Aaron Group, a full-service real estate firm. The company currently serves over 200 clients with property management services. Aaron Group Realty, a subsidiary of Aaron Group, is a full-service brokerage operating with five agents that exclusively serve the condominium residents of Singer Island, where the corporate office is located.

Peter Baytarian is the Founder and Managing Partner of Forest Development, a multi-faceted team of real estate development professionals with decades of experience. Forest Development acquires and develops undervalued and primarily waterfront properties in or adjacent to growing cities in Florida. Investing in areas on the path of development empowers the team to create destinations and shape vibrant communities. The diversified investment strategy of the company includes adding value through strategic partnerships and opportunities with mixed-use, multifamily, luxury condominiums, hotels, retail, restaurants, and marinas. Forest Development has various projects in process on both the east and west coasts of Florida. Nautilus 220, a luxury mixed-use development currently underway with completion anticipated for Spring 2025 at 220 Lake Shore Drive in Lake Park, FL, will include 330 condominium residences in two towers, SeaHawk Prime by David Burke, a restaurant with golf + sport simulators, a café, retail, and office alongside the Lake Park Harbor Marina. Oculina is a luxury mixed-use development with Intracoastal Waterway and Atlantic Ocean views at 3700 Broadway, Riviera Beach, FL. The 25-story, two tower project will include 399 condominiums, resort style amenities, a cafe, fast casual and fine dining restaurants, retail and office. Oculina is fully entitled and sales are slated to launch in the fall of 2025. Additionally, Peter is the Founder and Managing Partner of two firms based in New York, NY focused on the renovation, ownership and management of high-end value-add properties including townhomes, condominiums, and commercial sites in Manhattan. Previously he was a developer and home builder in Cape Cod, MA completing more than 150 residences. Peter was born in Beirut, Lebanon, attended high school at The American School in London and studied economics at Boston University. He resides with his wife and two daughters in Palm Beach County. Peter serves as a member of the Executive Trustee Council for the Palm Beach North Chamber of Commerce.

Since 2014, TJ Verdiglione has been a driving force in the luxury real estate industry, specializing in new development and high-end residential and commercial transactions. His close collaborations with prominent developers have given him a deep understanding of the complexities of luxury development and redevelopment. As both a broker and an investor in his own projects, he brings a unique, first-hand perspective on market dynamics, risk assessment, and long-term value creation. His ability to identify opportunities, optimize project positioning, and execute strategic sales plans has made him a sought-after expert in the industry. With a robust background in real estate development, investment, and construction, TJ has successfully brokered major land acquisitions, overseen full lease-ups and sellouts of residential developments, and closed over $1 billion in career sales and transactions. As a licensed agent in New York, New Jersey, and Florida, he seamlessly navigates the nuances of each market, leveraging his deep industry knowledge to deliver exceptional results. Splitting his time between these key regions, he remains actively engaged in their evolving real estate landscapes while enjoying the distinct opportunities each has to offer. Beyond his development expertise, TJ has also cultivated a strong reputation in the luxury residential market, representing discerning buyers and sellers who demand a high level of discretion and market intelligence. His ability to understand the priorities of high-net-worth individuals, combined with his strategic pricing and negotiation skills, ensures that each transaction is executed with precision and professionalism. Whether advising on pre-construction investments or positioning a completed property for maximum exposure, he provides unparalleled guidance tailored to each client’s unique goals. TJ’s forward-thinking approach allows him to anticipate market shifts and craft innovative solutions that enhance property value and investment returns. With an extensive network of residential clients, developers, architects, and investors, he continues to shape the luxury real estate landscape across multiple markets, solidifying his reputation as a leader in the industry.

Drawing on his prior experience as a banker and general counsel for a private equity firm, Joe Hernandez counsels a variety of clients in negotiating and structuring complex commercial real estate transactions. He represents real estate developers, financial institutions, private equity firms, and public entities in all phases of such transactions, with deals across the United States, Latin America and the Caribbean. He handles acquisitions, development, financing, leasing, joint ventures, and advises clients on raising capital for real estate projects. He also represents developers and investors in the area of condominium redevelopment, which oftentimes involves the complex process of terminating an existing condominium. He helps clients navigate all stages of the process, from due diligence, joint venture structuring, and termination strategies to acquisition financing, construction financing, and mezzanine financings that facilitate the redevelopment. Joe is a Fellow of the American College of Real Estate Lawyers (ACREL), a prestigious fellowship reserved for lawyers distinguished for their skill, experience, and high standards of professional and ethical conduct in the practice of real estate law. He also serves as Chair of ACREL’s Common Interest Ownership Committee.