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.

Kevin G. Kowalski, who previously headed his own brokerage firm in Tampa, is named regional director of IREA's office here, which was opened to service the advisory and brokerage firm's California clients that are investing in South Florida's multifamily and retail markets. Raffi Krikorian, IREA's president and CEO, says South Florida's steadily improving employment rates bode well for the apartment and retail sectors. "Primarily because of the buoyant commercial property climate in California, there has been a tendency to move equity to Florida," he says in a statement.