CBRE poached Robert Given and four other investment sales brokers in South Florida from Cushman & Wakefield.
Given, Zach Sackley, Troy Ballard, Calum Weaver and Brad Capas jumped to CBRE, where they will focus on multifamily and developable land sales, structured debt and equity finance, and private capital sales, according to a CBRE news release. The five have completed more than $25 billion in multifamily investment deals while at Cushman.
Joining CBRE is a homecoming for three of the brokers, who worked for the firm before Cushman.
Given has been in real estate for 30 years and leaves Cushman after seven years with the firm. He has worked on more than 850 investment properties valued at over $50 billion, according to the release. Given was with CBRE before joining Cushman, his LinkedIn shows.
Sackley has worked on sales, marketing and consulting of over $30 billion of multifamily and land assignments, which represent more than 125,000 units, according to the release. Sackley joined Cushman in 2016 after working for CBRE for 10 years, his LinkedIn shows.
Ballard has closed more than 150 deals for a combined 100,000 multifamily units, the release says. Before joining Cushman in 2016, Ballard led TM Real Estate Group and also worked as senior project coordinator at the Related Group from 2000 to 2004, according to his LinkedIn.
Weaver has closed about 200 multifamily deals valued at over $1.5 billion, according to the release. He was with CBRE for 16 years prior to joining Cushman in 2016, his LinkedIn shows.
Capas has closed multifamily deals valued at over $2 billion and for a combined 22,000 units, the release says. He was with Cushman from 2003 to 2013, and then again starting in 2017 until now, according to his LinkedIn. In between his two stints at Cushman, Capas led the CapasGroup Realty Advisors brokerage.
The brokers’ jump to CBRE comes amid a cooling South Florida investment sales market. The tri-county region experienced a deal flurry in 2021 and early last year, but the market slowed following the Federal Reserve’s aggressive interest rate hikes. Higher rates have made acquisition financing expensive, limiting buyers’ abilities to purchase properties.
In Miami Beach and prime Miami neighborhoods such as Brickell and downtown, deal volume in the first three months of this year hit $194 million, a whopping 80 percent drop compared to the same period of last year, according to Dwntwn Realty Advisors, led by Tony Arellano and Devlin Marinoff.