Avison Young Homes In on Institutional Multifamily

Peter Sherman: “People are disavowing the buying of homes at the moment and preferring the flexibility and the walkability of a slew of neighborhoods.”

LOS ANGELES—Avison Young is bolstering its institutional multifamily practice in response to massive growth in the sector, which leadership says isn’t going to slow down any time soon. Earlier this week, GlobeSt.com reported that the firm made three new key hires to its multifamily platform, including hiring Peter Sherman, formerly of CBRE, as a principal to lead the multifamily practice in Southern California. The move was both market and strategy driven, according to Sherman and Avison Young managing director and principal Chris Cooper.

“We have to be in the multifamily arena. Our global strategy is the two by five by four, and that is that Avison Young’s strategy throughout the world in each major region needs to be able to deliver services to the two types of clients, owners and occupiers, in the five primary types of service lines in the four food groups, being multifamily, retail, industrial and office,” Cooper tells GlobeSt.com. “Peter really completes that strategy for multifamily in Southern California. We will continue to grow it, and we have a few more gaps to fill in, but this has been a huge monumental achievement having Peter able to come over and grow this very important business line for us.”