A statewide 12-person multifamily brokerage team that includes many of the top multifamily brokers in Florida has joined Colliers International Florida to advance their practice. According to data available on commercial real estate analytics provider CoStar, the team closed the most multifamily sales transactions in Florida in 2020 – 47 transactions totaling $214 million.
With professionals in the Tampa Bay area, Orlando, Jacksonville and Tallahassee, the new Colliers International | Florida Multifamily Team is the first truly integrated statewide multifamily brokerage team in Florida, with a focus on deploying both private and institutional capital.
The team, previously known as The Babb Group at Marcus & Millichap, closed 97 multifamily transactions totaling $452.5 million in sales volume over the past three years. The Colliers | Florida Multifamily Team will be led by three industry veterans – Casey Babb, CCIM, Luis Baez, CCIM, and Shawn Rupp – who average over 17 years in the multifamily brokerage business and will work out of Colliers’ Tampa office.
“We are thrilled to welcome this team of high-performing brokers and support professionals to Colliers,” said Danny Rice, Managing Director and Market Leader for Colliers International Tampa Bay, Central & Southwest Florida. “The addition of this team, with its multi-market presence, strong track record of excellent client service and collaborative approach, makes Colliers a top-tier brokerage option for multifamily buyers and sellers in the state of Florida.”
At Marcus & Millichap, the team worked almost exclusively with private clients, focusing on sales transactions between $1 million and $20 million. At Colliers International, the Colliers | Florida Multifamily Team will work with both private capital and institutional clients, with a focus on helping buyers and sellers of properties of all ranges.
“Finding a top global firm that handles a balanced amount of both private capital and institutional business was a perfect match for us,” said Babb, Executive Managing Director at Colliers International. “Also, with Colliers Mortgage and their Delegated Underwriting and Servicing (DUS) lending licenses with Fannie Mae and the U.S. Department of Housing and Urban Development (HUD), we now have access to true in-house financing and a full stack of other services – from equity placement to development capabilities – that will allow us to better serve our clients.”
In 2020, the team’s notable transactions included Griffin Park, a 178-unit property in Lakeland that sold for $17.5 million, in which it represented the buyer; and Waterside Village, a 102-unit property in St. Petersburg that sold for $12 million, in which it represented the seller. The team also closed two large, confidential transactions – one a 751-unit portfolio in the Florida Panhandle – totaling $97.4 million.
The members of what’s now the Colliers | Florida Multifamily Team have succeeded by being truly collaborative, engaging in weekly calls and communicating daily across all markets in the state. In addition, the team will collaborate with the Colliers Eastern Region Multifamily Practice Group, led by Will Mathews, to leverage relationships and take full advantage of the firm’s extensive multifamily resources.
“We are excited to welcome Casey, Shawn, Luis and the full team to Colliers,” said Will Mathews, Managing Director and Platform Leader of the East Region Multifamily Advisory Group. “This key addition expands our rapidly growing multifamily presence in Florida and better serves our clients in high-growth markets.”
Babb, previously First Vice President, Investments, and Director of the National Multi-Housing Group at Marcus & Millichap, entered the commercial investment real estate industry in 2002. He is a past president of CCIM’s West Coast District and is also involved with the Urban Land Institute, Bay Area Apartment Association, Real Estate Investment Council and National Multi-Housing Council. He holds bachelor’s degrees in both real estate and finance from Florida State University.
Baez, previously First Vice President, Investments, and member of the National Multi-Housing Group at Marcus & Millichap, entered the commercial investment real estate industry in 2004 on the ownership and management side, where he assisted in analyzing and acquiring a portfolio of multifamily properties on behalf of a private investor based in South Florida. He is a graduate of the University of Tampa, where he majored in finance and minored in Latin American studies.
Rupp, previously Vice President, Investments and Associate Director of the National Multi-Housing Group at Marcus & Millichap, has worked as an investment sales advisor in Florida since 2003 and wrote a book on commercial real estate negotiations. He speaks fluent Spanish, sits on the board for Habitat for Humanity Hillsborough and has bachelor degrees in real estate, finance, marketing and entrepreneurship from Florida State University.
The new Colliers Florida Multifamily Team includes:
Casey Babb, CCIM, Executive Managing Director, Tampa
Luis Baez, CCIM, Managing Director, Tampa
Shawn Rupp, Managing Director, Tampa
Miles Tombrink, Director, Tampa
Mike Steiner, Director, Tallahassee
Jay Ayres, Associate, Tampa
Brad McCollum, Associate, Jacksonville
Andrew Birr, Associate, Orlando
Ryan Wooden, Associate, Orlando
Anthony Cecere, Transaction Coordinator, Tampa
John Cortez, Marketing Coordinator, Tampa
Ryan Murphy, Research Analyst, Tampa
Colliers International can help multifamily buyers and sellers in any part of the state. The Colliers | Florida Multifamily Team expands upon the existing Florida Multifamily practice, which includes Craig Brown, Senior Associate in Tampa, Andrew Green, Associate in Orlando, Bradley Coe, Senior Director in Jacksonville and Matthew McCarthy, Associate Director in Jacksonville.
About Colliers International
Colliers International (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 68 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to maximize the value of property for real estate occupiers, owners and investors. For more than 25 years, our experienced leadership, owning approximately 40% of our equity, has delivered compound annual investment returns of almost 20% for shareholders. In 2019, corporate revenues were more than $3.0 billion ($3.5 billion including affiliates), with $33 billion of assets under management in our investment management segment.