SAN FRANCISCO-A veteran team of investment brokers specializing in apartment sales and high-density multifamily development sites has joined Cushman & Wakefield in the expansion of its investment-sales services in Northern California. All six of the new hires were formerly with CBRE.
The San Francisco multifamily group will be led by Todd Vitzthum as executive director and includes Jeremy Cline, director; Simon Herrman, director; Rawley Nielsen, director; Jason Parr, director; and Mike Nguyen, client services. Vitzthum and his team have worked as lead advisors on several high-profile multifamily assignments throughout the Bay area.
“We have seen a significant change in our business in recent years, both in the complexity of the multifamily market and in the value that we are able to add as brokers,” says Vitzthum. “We are focused on continuing to identify new opportunities and new ways to provide the absolute highest level of service to our clients.”
Steve Weilbach, senior managing director and national head of multifamily for C&W, says the team has demonstrated prior success in the market and has deep, existing relationships with owners. “Todd and his team are ideally suited to lead Cushman & Wakefield’s multifamily investment-sales practice in Northern California, and we are thrilled to add their team at this exciting time in the market.”
In commenting on the executive moves, a spokesperson from CBRE tells GlobeSt.com, “CBRE has long held the number-one market share nationally in the multi-family sector and is committed to expanding our market-leading position across the U.S., including the San Francisco Bay Area. As is always the case in our business, having the right teams in place is crucial to success. This transition provides a unique opportunity to restructure our San Francisco multi-family investment team around our existing senior professionals in order to deliver integrated, sophisticated services for institutional investors across both property types and the capital stack. We look forward to building on our success in the Bay area in 2012 and beyond.”
The new C&W team makes the switch shortly after executive moves were announced at both firms. As GlobeSt.com previously reported, CBRE CEO Brett White will retire at the end of the year, and current president Robert Sulentic will take on the CEO post. Also as GlobeSt.com previously reported, Arthur J. Mirante left his longtime home at Cushman & Wakefield in April to helm the launch of Avison Young’s new Manhattan office.
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
