"Multifamily investment sales has been a big part of our practice in other parts of the country," comments Chip Clarke president of Transwestern's Gulf Coast and Mountain regions. "There are great practices in Dallas, Chicago and Phoenix. We wanted to add our own in Houston."
Clark tells GlobeSt.com that Cummins was recruited because of an active career and a cultural fit. During his career, Cummins has generated approximately $1.5 billion in multifamily transactions. Furthermore, Cummins has a lot of friends at Transwestern, Clarke notes, adding "we've always admired and respected his career."
Clarke says more multifamily involvement makes sense for the local office for a variety of reasons. In the investment sales world, he points out, multifamily deals are getting done, because there is liquidity in the market.
That's in the present. As to the future, "there will be an increase in leasing and a lot of assets from special servicers," Clarke comments. "That's why we wanted to be sure we were set up with someone who could lead and grow the practice in Houston." Furthermore, in terms of growth, "we've made our commitment to the business in Houston; you'll likely see us adding more people over the next several months," Clarke says.
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