MIAMI—Greg Matus is climbing the ladder at Franklin Street. The commercial real estate veteran was just promoted to senior vice president of investment sales.
In this new role, Matus will focus on growing the company’s investment sales division on a national basis. He’s also maintaining his duties as a regional managing partner in South Florida until the company finds a replacement.
“Greg did a great job for us building a quality team in South Florida, so we’re very excited to see what he can do in this new role,” says Kurt Keaton, president of management and real estate services at Franklin Street. “Throughout most of his commercial real estate career, he has been involved on the investment sales and new business development side of the business. Now he gets a chance to take that skill set to a larger stage.”
Matus joined Franklin Street two and a half years ago and was tasked with growing the South Florida office. Since then, he has tripled the number of employees in the Miami and Broward offices combined, and overseen the closing of millions of dollars in real estate transactions.
“In the South Florida market, there’s a scarcity of quality product available for investors to buy,” Matus tells GlobeSt.com. “I believe we hit our pricing peak in the fourth quarter of last year. There’s a lot of overpriced properties on the market now, but we’re seeing a growing number of investors willing to overpay and accept lower returns, just to be able to plant their flag in the region, especially in Miami. There’s still plenty of equity looking for good deals, but the banks are starting to tighten up underwriting standards, especially in the CMBS market. We are in a fluctuation period at the moment.”
Matus’ promotion comes at a time when Franklin Street is expanding across the entire state of Florida. In May, the company opened an Orlando office. Matus will work closely with all of the Franklin Street offices in Florida and Georgia to add and train new investment sales associates and increase production across all product types.
“The plan is to double our investment sales team by the end of 2017,” says Matus said. “We have all the right ingredients in place to make that happen—strong leadership, a collaborative culture, talented professionals and a clear vision. My new role allows us to strengthen our position in Florida, and within the next five years, become a national player.”
Throughout his career, Matus has been involved in thousands of transactions valued at more than $3 billion with expertise spanning across retail, multifamily, hospitality, office and industrial sectors. Within one year of joining Franklin Street, he led the South Florida retail investment sales team into a top three position in the company.
View the original story here: https://www.globest.com/sites/jenniferleclaire/2016/10/07/franklin-street-makes-move-move-to-expand-nationally/