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.
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.
THIS CONFIDENTIALITY AGREEMENT (“Agreement”) is made and agreed to by Colliers Florida Multifamily (“Broker”), exclusive listing broker for the Property, and the undersigned Purchaser (“Purchaser”) regarding the Property herein (“Property”). The obligation of confidentiality undertaken pursuant to this Agreement shall survive the terms of the Broker’s listing agreement with the Owner(s). PURCHASER HAS REQUESTED information from Broker for the purpose of evaluating a possible acquisition of the Property. The Owner of the Property has instructed Broker to deliver information concerning the Property, much of which is highly confidential, only to those potential purchasers who sign this Agreement. THE PARTIES AGREE, in consideration of the covenants and agreements contained herein, as follows: 1. Purchaser will not disclose, permit the disclosure of, release, disseminate or transfer; any information obtained hereunder (“Information”) to any other person or entity. 2. If Purchaser is a corporation, partnership, limited liability company or other non-natural legal entity, the person(s) signing this Agreement on its behalf will take all appropriate precautions to limit the dissemination of the Information only to those persons within the entity who have need to know of the information, and who are specifically aware of the Agreement and agree to honor it. 3. This Agreement applies to all Information received from Broker, now or in the future, which is not readily available to the general public. Purchaser understands that all information shall be deemed confidential, valuable and proprietary such that its unauthorized disclosure, even without intent to harm, could cause substantial and irreparable harm to Owner and Broker. 4. All information shall be used for the sole purpose of evaluating the potential acquisition of the Property, and it shall not at any time, or in any manner, be used for any other purpose. 5. Purchaser shall not contact directly any persons concerning the Property, other than Broker, without Broker’s or Owner’s written permission. Such persons include, without limitation, Owner’s employees, suppliers and tenants. 6. Purchaser acknowledges that it is a principal and not an agent on behalf of any other party in conjunction with the purchase of the Property (except Advisors working on behalf of their pension fund clients). Purchaser acknowledges that it is not working with any other broker or agent other than The Babb Group in connection with this transaction. 7. Neither Broker nor Owner makes any representations or warranty, express or implied, as to the accuracy or completeness of any information provided by them. Purchaser assumes full and complete responsibility for reconfirmation and verification of all Information received and expressly waives all rights of recourse against Owner and Broker with respect to the same. 8. The Persons signing on behalf of Purchaser and Broker represent that they have the authority to bind the party for whom they sign. 9. This Agreement shall be governed and construed in accordance with the laws of the State of Florida. 10. No outside broker represents Purchaser. Purchaser is working with Colliers Florida Multifamily, specifically The Babb Group. Furthermore, Purchaser indemnifies Broker and owner against any commission claims by brokers on this listing or any listing by the Babb Group for the six months following the date of this agreement.