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There's been a major multifamily shake-up in South Florida.
Cushman & Wakefield's local multifamily investment sales group, which has arranged $25B in transactions, is joining CBRE, the brokerage announced.
The team joining the world's largest real estate services firm is led by Robert Given, Zach Sackley, Troy Ballard, Calum Weaver and Brad Capas. They focus on institutional multifamily sales, land sales, structured debt and equity finance and private capital sales across South Florida.
Given will join CBRE as a vice chairman after working as an executive vice chairman at C&W. He’s consulted on more than $50B in transactions including more than 200,000 multifamily units.
Sackley and Ballard are also joining as vice chairmen, while Weaver comes to CBRE as an executive vice president. Capas joins CBRE as an executive vice president, after serving as executive director at C&W.
Cushman & Wakefield’s South Florida multifamily team completed $4.65B in sales in 2022, 51% of the region's total sale activity, according to the firm's market report.
The team’s move comes as South Florida continues to see strong interest from both multifamily developers and homebuyers.
There was just under $9B in multifamily sales volume in 2022, according to the C&W report. The 631 multifamily sales that closed last year totaled 26,390 units, the second-highest year on record after 2021.
In the report, Weaver wrote that he expected South Florida’s population to continue to grow despite headwinds in the broader economy.
“There will always be bumps in the road, but South Florida’s multifamily resiliency is unquestionable," he wrote.
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