TAG was formed when C&W, based here, merged with the existing Apartment Group of Atlanta. "We've done more than $2 billion in sales over the last 24 months," says Helbig. This has inspired the company to roll out throughout the US. "We intend to take the model and use it to build on in all of the C&W regional offices such as Dallas, Houston, Chicago and New England. We already have the capabilities in place in Los Angeles, Seattle, Washington, DC and Denver to aid in the blending process."
The interest in multifamily housing, according to Helbig is demonstrable in the pursuit of such properties by their own clients, such as Lend Lease, which plans to build and expand its apartment holdings by $1 billion. "The two largest demographics that are apartment dwellers are 20-somethings and 50-something empty nesters. These are also the two fastest growing groups in the US. In five to ten years you can just look at where those demographics will take the need for multifamily housing."
Helbig adds that economic troubles can actually be beneficial to multifamily housing as people look to save money on housing costs and weigh the price of purchasing a home versus the affordability of an apartment. "We see the future as a great opportunity for us to diversify and grow our business," Helbig adds.
The recruitment process for leadership of the new TAG regional operations has begun, and Helbig notes the company is looking specifically for leading "outside brokers in other organizations" to come on board at C&W. Among the company's clients are Equity Residential Properties Trust, Archstone Communities, Archon, General Investment and Development and SSR Realty Advisors. It has handled deals on more than 6,000 apartment units and 44 properties.
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