Integrated Team Completes Nearly $400 Million in Transactions in 10 Months
February 09, 2021
Atlanta and Miami – Transwestern Real Estate Services (TRS) announces its investment sales teams in Atlanta and Miami have joined forces to create a fully integrated investment sales platform with an expanded footprint across the Southeast. Between March 2020 and January 2021, the team completed 19 investment sales transactions totaling $386.2 million.
"The pandemic gave us a chance to examine how we can bring more value to our clients," said Transwestern Senior Managing Director Jon Kleinberg. "We aren't simply adding more dots to a map. By building a true partnership between our teams, we can harness the power of more than 100 years of combined experience, expertise, and relationships on every deal."
Along with Kleinberg, the newly integrated team includes Senior Managing Directors John Bell, Kevin Markwordt and Mike McGaughy, Managing Director Fred Victor, Vice President Stuart Carrington and Analysts Peyton Nunn and Robert Saunders.
"This pivot and the creation of a one-stop-shop is a natural extension of our philosophy to provide better, more personalized service to our clients," said Bell. "Through this team structure, we can offer immediate market intelligence, realistic underwriting and pricing guidance, and deeper buyer procurement across asset types, which leads to higher price performance."
Over the last 10 months, the Southeast Investment Sales team has facilitated 19 dispositions across retail, office, healthcare, multifamily and land sectors. Notable transactions include:
- The Huntsville Office Portfolio, a six-property, 1.03 million-square-foot project in Huntsville, Alabama, sold for $83 million, or $81 per square foot.
- Parkside at the Beach, a 288-unit multifamily community in Panama City Beach, Florida, sold for $57.3 million, or $198,785 per unit, representing the city's highest per-unit sales price.
- 6262 Sunset Drive, a 96,779-square-foot medical/professional office tower in Miami sold for $36.7 million, or $379 per square foot.
- Brookhaven Medical Center II, a 51,429-square-foot, Class A medical office building in Atlanta, traded for $29.8 million, or $581 per square foot.
- TBC Place I and II, two single-story R&D buildings totaling 177,236 square feet in Durham, North Carolina, sold for $24.1 million, or $136 per square foot.
- North Logan Commons, a 175,969-square-foot retail power center in northeast Atlanta, sold for $15.6 million, or $88 per square foot.
Currently, the team is marketing four projects: The Den, a 158-unit student housing opportunity in Columbia, Missouri; Chelsea Apartments, a 472-unit apartment complex in Atlanta; 5600 Broken Sound, a 143,290-square-foot office campus in Boca Raton, Florida; and Cortez Center, a 63,118-square-foot medical/retail center in Bradenton, Florida.
About Transwestern Real Estate Services
Transwestern Real Estate Services (TRS) adds value for investors, owners and occupiers of all commercial property types through a comprehensive perspective and by providing solutions grounded in sound market intelligence. Part of the Transwestern companies, the firm applies a consultative approach to Agency Leasing, Asset Services, Tenant Advisory + Workplace Solutions, Capital Markets, and Research & Investment Analytics.
The privately held Transwestern companies have been delivering a higher level of personalized service and innovative real estate solutions since 1978. An integrated approach formed from fresh ideas drives value for clients across commercial real estate services, development, investment management and opportunistic programs for high-net-worth investors. The firm operates through 34 U.S. offices and global alliances with BNP Paribas Real Estate and Devencore. Learn more at transwestern.com and @Transwestern.