Search
 

IREA Opens in Miami; CBRE Promotes Massirman

MIAMI-Los Angeles-based Investment Real Estate Associates opens on Brickell Avenue to service California clients that are investing here. Meanwhile, Jay Massirman is promoted to become one of nine CB Richard Ellis vice chairmen nationwide.

By Marita Thomas | Updated on September 20, 2005

MIAMI-Los Angeles-based Investment Real Estate Associates has opened an office at 1200 Brickell Ave., joining a stream of real estate related companies setting up shop here. Meanwhile, Jay Massirman, senior member of the CB Richard Ellis Florida Multihousing Group, has been promoted to vice chairman, a title held by just nine of CBRE’s 3,000 brokers nationwide. While these moves are unrelated to each other, both are a tied to the area’s continuing strong real estate activity, particularly, but not solely, in the multifamily sector., they contend.

Massirman, based here, has been with CBRE since 1986. In 2004 his team closed more than $2.3 billion in sales and has closed nearly $2 billion in the first seven months of this year. “The low interest rates, rising land and construction costs and strong regional demographics are driving one of the biggest condominium conversion booms ever witnessed in Florida and around the country,” Massirman says.

“Condo developers are swarming across the state, paying a premium to acquire and transform rental properties into condos. We have been very fortunate to have caught this trend from the start and have not slowed down since 2003. When will it end, no one knows,” he adds.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.