Commercial Real Estate, Capital, Insurance, Leasing & Management

Green Street / Real Estate Alert: Franklin Street Sets Sights on Multifamily

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Franklin Street has hired a top Florida broker from JBM as an initial step toward the formation of an investment-sales division that exclusively would shop institutional-quality multifamily properties.

Jonathan Barclay started this month as a managing director in the real estate and insurance brokerage’s Tampa headquarters. The position has him working alongside managing director Zach Ames, with the duo brokering institutional apartment properties in Florida while leading efforts to expand the new unit across the Sun Belt.

Indeed, the growth plan would see Franklin Street add brokerage professionals to the Tampa office and its outposts in Atlanta, Austin, Charlotte, Fort Lauderdale, Jacksonville, Miami, Nashville and Orlando.

The operation, known as the institutional services group, is following what Barclay describes as a “clients-first, one-team approach, with an emphasis on service.”

The initiative aims to seize on opportunities arising from the commercial real estate market’s current downturn, with the expansion timed to position Franklin Street for an anticipated recovery in the multifamily sector. “Downturns in the market always present a great time for a reset, and that’s what we did,” said Ames, who joined the firm in 2011. “We didn’t want to be building the airplane as we’re trying to fly it, when the market takes off.”

Franklin Street operates via seven business divisions, covering investment sales across property types, capital advisory, insurance services, tenant representation, landlord representation, property management and project management.

Barclay spent almost 11 years at JBM, the most active brokerage for multifamily sales in Southwest Florida, starting as an associate director and rising to managing director. Earlier, he spent almost two years as an analyst at JLL.

At Franklin Street, he reports to Greg Matus, a senior vice president for investment sales in Fort Lauderdale.

Read the full article here from Green Street / Real Estate Alert.

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