(Crystal Proenza is associate editor of Real EstateFlorida.)

ORLANDO, FL-Four months after opening its Southeast regionaloffice here, Phoenix-based Hendricks & Partners now plans togrow its local office and has sights set on expanding into Atlanta,Miami and Tampa. The nation's largest privately owned multifamilybrokerage reports that it has posted exclusive property salelistings of apartment properties in Central Florida valued at morethan $180 million since July.

Cole Whitaker, principal and managing partner of Hendricks'Orlando office, says institutional investor owners, such asinsurance companies and pension funds, will be motivated by theeconomy cycle to sell off select properties in order to increasecash reserves. "They own a large portion of the class A producthere because Florida is a growth market," Whitaker tellsGlobeSt.com, adding that the investors will most likely sell offclass A properties to each other.

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