MIAMI-Flagler Real Estate Services is expanding its breadth with two acquisitions that usher the firm into the retail and multifamily sectors. Flagler has acquired retail brokerage and property management firm DBR & Associates and multifamily development and management firm Auker Development.

Pike Rowley, president of Flagler Real Estate Services, tells GlobeSt.com the company is expanding into these commercial real estate niches in response to increased demand from special servicers and lenders that have taken back commercial properties and portfolios that have fallen into foreclosure.

“They’re looking for a company that can service multiple asset classes, not just office and industrial,” Rowley says. “Our expansion into these new asset classes will also better position us as the economy continues to improve and developers return to the market.”

With the acquisition of DBR, Flagler brings on firm principals A.J. Belt and Brian Mark, along with a 14-person staff. Flalgler also gains a 2,500,000-square-foot portfolio of approximately 40 retail properties throughout the Southeast and Mid-Atlantic states, valued at $400 million. Belt, who started with the organization in 1987 when it was founded as Belt & Associates, helped create a publicly traded real estate fund that ultimately led to the company’s acquisition of 26 retail properties spanning eight states.

With Auker Developments, Flagler brings in seasoned veteran Scott Auker. His primary focus will be advising developers, investors and landowners in the acquisition, disposition and development of multifamily properties in the Southeast. Prior to forming the company, Auker led multifamily development efforts for national developers such as JPI, Altman and Clark Realty Capital.