DALLAS—Pollack Shores Real Estate Group recently expanded in the Southwest with the launch of a new office in Dallas. Alex Seals will lead the company's efforts in the Southwest from the new office located in Preston Center. Steven Shores, president and cofounder of Pollack Shores, recently discussed this expansion, along with the 2016 multifamily market and upcoming trends with GlobeSt.com in this exclusive.

GlobeSt.com: How was 2016 for the multifamily industry?

Steven Shores: In 2016, we began to enter a more normalized market as opposed to the aggressive development market we've seen over the last few years since the pent up post-recession demand. At a company level, 2016 was a big year for us as it marks our 10-year anniversary. Since opening in 2006, Pollack Shores has invested in, acquired and developed over 14,500 units representing in excess of $2 billion of total capitalization exclusively in a number of Sun Belt cities. This year alone, we acquired three properties and had four development starts in Florida, Georgia and North Carolina. We also made the strategic decision to establish an office in Dallas to expand our business Southwest. In 2017, we expect to hire about 100 new employees across Pollack Shores and Matrix Residential to keep up with growing demand.