MIAMI—ARA's Florida office has closed $1.04 billion in multifamily investment sales, land sales, equity capital placement, and financing so far this year—and the firm doesn't expect the pace to slow down. After closing 42 multifamily deals in 2014, the firm still has 19 deals under agreement and 20 more active marketing assignments in the pipeline.

“Multifamily investment sales remain a hot investment product due to high occupancies and strong rent growth,” says ARA founding principal Richard Donnellan. “With limited supply available, particularly in South Florida, core product continues to be highly sought after by both institutional buyers and large private groups.”

ARA Florida has eight brokerage professionals that do multifamily deals across Florida. The team has transacted more than $14.4 billion since its launched in 1995. But the multifamily landscape is changing.