Errol Blumer Joins Cushman & Wakefield’s South Florida Multifamily Team

 

Errol Blumer

FORT LAUDERDALE, FL — Cushman & Wakefield announced Errol Blumer has been hired as an Associate on the South Florida Multifamily Team.

Blumer will join the Fort Lauderdale-based team led by Vice Chairman Robert Given. This team focuses exclusively on the needs of institutional and private owners of multifamily properties, land development, and structured equity and debt finance throughout South Florida.

The South Florida Multifamily Team comprises 15 seasoned professionals with over 130 years of combined real estate and investment sales experience and over $20 billion in multifamily production. Blumer will assist with business development, client management and the creation of research and marketing collateral.

Before joining Cushman & Wakefield, Blumer served at Avison Young, where he contributed in more than $650 million in capital markets, debt and equity transactions throughout the Southeast. 

Blumer also served as a Transaction Manager for Apartment Realty Advisors (now ARA Newmark) and Senior Acquisitions Analyst at Green Springs Property Management in West Palm Beach.

Robert Given

“Errol is a tremendous addition to our team and we’re excited to welcome him aboard,” said Given. “His experience, skill set and market knowledge dovetail perfectly with our needs and significantly advance our ability to serve our clients.”

“It’s an honor to be a part of such a dynamic and well-respected team,” said Blumer. “Robert and his team have set the bar extremely high and I very much look forward to the challenges ahead.”

Blumer holds a Bachelor of Arts in History from the University of South Florida. He also earned an MBA in Finance and graduate certificate in Real Estate Development from Nova Southeastern University.

For a complete copy of the company’s news release, please contact:

David A. Meyer 

Meyer Media 

407.489.7488 

david@meyer.media

 www.meyer.media

Raintree Partners Expands Rapidly; Adds Acquisitions and Operations Veterans to Bolster Growth

Annette Thurman

             LAGUNA NIGUEL, CA – Raintree Partners, a private commercial real estate investment company that acquires, develops and redevelops multifamily and mixed-use properties in California, has announced a recent growth milestone accompanied by an expansion of its acquisitions and operations team.

            “We have been extremely active in the market in recent months, increasing our existing portfolio by 25 percent,” explains Aaron Hancock, Managing Director of Raintree Partners.  “We now own nearly 5,000 units throughout California, and we continue to actively acquire assets that meet our investment criteria.”

            Hancock notes that Raintree’s acquisitions team has recently widened its scope to include smaller properties ranging from 25 units and larger.

            “We focused on larger assets for many years, however the market has shifted and we’re nimble enough to shift with it,” says Hancock. “We continue to draw upon our expertise in this multifamily niche in order to identify acquisition and development opportunities where we can create and maintain long-term value.”

            In addition to expanding its portfolio, Raintree is launching an intensive renovation program for its existing assets, with plans to implement more than $23 million in capital improvements portfolio-wide in 2017.

Ian Couwenberg

           








 “As property operators with an owner’s perspective, we recognize the opportunity to improve our assets strategically in order to grow rents, drive ongoing occupancy, and create the best resident experience possible,” explains Jason Check, Managing Director for Raintree Partners. 

            To maintain its active acquisition pace while conducting this capital improvement campaign, Raintree has added two industry veterans to its team, Ian Couwenberg as Director of Acquisitions, and Annette Thurman as Senior Director of Asset Management.

“Ian and Annette are seasoned professionals with the critical skills to continue our forward momentum while maintaining our high standards of excellence,” explains Check.

Ian Couwenberg brings a wealth of industry experience to Raintree.  Most recently serving as Vice President of Acquisitions and Dispositions for Sack Properties, Couwenberg began his career as a multifamily broker for CBRE, and has also been the Director of Investments at Equity Residential and Assistant Vice President of Acquisitions at Archstone Smith.

Annette Thurman boasts nearly two decades of experience in commercial real estate. Most recently, she served as Senior Vice President, Northwest at Alliance Residential Company, where she oversaw 82 assets consisting of nearly 20,000 units.  She also served in senior positions at Riverstone Residential and Fairfield Residential, LLC.  In her new role, Thurman will oversee Raintree’s capital improvement program and spearhead all asset management initiatives.

Aaron Hancock

            Raintree Partners pursues the development, acquisition and ownership of multifamily and mixed-use properties in high-growth Western U.S. markets with a particular focus on the major metropolitan areas in Southern and Northern California. 

With patient institutional equity capital, Raintree Partners has the ability to take a long-term investment perspective in the execution of its acquisition and development strategy. 

More information is available at www.raintreepartners.com.

For a complete copy of the company’s news release, please contact:

Elisabeth Manville/Jenn Quader

Brower, Miller & Cole

(949) 955-7940

EManville@browermillercole.com

Daum Commercial Helps Medical Device Testing Company Double Its Orange County, CA Footprint with Irvine Industrial Lease

 

Rick Turner

 IRVINE, CA – DAUM Commercial has directed the 10-year lease of a 33,324 square-foot freestanding industrial building in Irvine, California. 

Rick Turner, a Senior Associate in DAUM’s Newport Beach office, represented the lessee, a medical device testing company that is relocating from a 16,000 square-foot space in Fountain Valley – doubling its footprint in Orange County.

 “We began the search in North Orange County, close to the Client’s existing facility. However, with 2.3 percent industrial vacancy county-wide, we knew widening the parameters was required,” says Turner. 

“By expanding the search geographically, we were able to identify this high-image building, which is in close proximity to many of the tenant’s existing and target customers, making this the perfect fit for their expansion.”

Turner notes that the facility features many of the specific items the tenant was seeking, including in-place climate control options and existing office space to accommodate the precise demands of the medical device testing industry.

“Our Client plans to implement a series of improvements that will transform the space into a state-of-the-art testing facility,” says Turner.  “Further, the 10-year lease term closed with a five-year option, giving the landlord a strong, dependable tenant for many years to come.”

Turner explains that these lease terms are rare in the current Orange County market, where availability and pricing continues to drive prospective tenants north or inland.

“This lease speaks to the high quality of our Client’s company, and to our firm’s ability to identify solutions even in a tightening market,” says Turner.

The building is currently vacant and is located at 9400 Toledo Way in Irvine, California, off Alton Parkway and in close proximity to the I-5 Freeway.  The new $4.5 million lease begins on May 1, 2017.  

The landlord, John Meehan of Meehan Holdings, LLC, represented himself in the transaction.

DAUM Commercial is a leading provider of commercial real estate services including brokerage, tenant representation, consulting, leasing, sales and property management. Founded in 1904, DAUM focuses on longstanding client relationships and draws upon its century-long track record to deliver steadfast insights and proven results to clients throughout the U.S.

DAUM has ten offices throughout Southern California and Arizona. More information is available at

For a complete copy of the company’s news release, please contact:

Miki Conant

Account Executive

Brower, Miller & Cole

895 Dove Street, Third Floor

Newport Beach, CA 92660

p: (949) 955-7940 / c: (832) 260-4414

mconant@browermillercole.com

www.daumcommercial.com.