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| Richard Donnellan |
Boca Raton, FL — The Florida office of Atlanta-headquartered
ARA, the largest privately-held, full-service investment advisory brokerage
firm in the nation focusing exclusively on the multihousing industry, recently
announced that the office has closed $1.04 billion in multihousing investment
sales, land sales, equity capital placement and financing to date in 2014 with
42 closed transactions.
This pace is expected to
continue, as the firm has an additional 19 deals under agreement and a pipeline
of 20 active marketing assignments.
ARA Florida is comprised
of a team of eight brokerage professionals and support staff to cover
multihousing transactions throughout Florida. The team has transacted more than
$14.4 billion since its inception in 1995.
The ARA Florida office is led by industry veterans Dick Donnellan
and Marc deBaptiste.
The Central and North
Florida Team is comprised of Kevin Judd, Patrick Dufour and Scott Ramey.
Avery Klann, Hampton Beebe and Troy Ballard
comprise ARA’s South Florida Team.
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| Marc deBaptiste |
“Multifamily investment
sales remain a hot investment product due to high occupancies and strong rent
growth,” noted ARA Founding Principal Richard Donnellan.
“We are seeing a
compression in cap rates for properties across virtually all markets in Florida
as demand continues to outpace supply,” said ARA Founding Principal Marc
deBaptiste. “Currently there is a lack of product for sale compared to 2013.”
“With limited supply
available, particularly in South Florida, core product continues to be highly
sought after by both institutional buyers and large private groups,” said Donnellan.
For
a complete copy of the company’s news release, please contact:
Marti Zenor
ARA Office
(561) 988-8800
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