TAMPA, FL-Former Birmingham, AL-based Colonial Properties Trust executive R. Dallas Whitaker has formed a new investment and development company called Greystone Equity LLC.

The company will focus on development, redevelopment, repositioning and leasing in Tampa Bay, Orlando and Jacksonville. The company may eventually expand its operations to other cities in the Southeast. Whitaker tells GlobeSt.com that he will focus on office and industrial properties, but would not preclude retail and multifamily initiatives. “I’ve developed a network of institutional equity partners over the years and wanted to break out on my own,” he says, of his decision to start his own company.

Among initiatives the company has undertaken is the formation of an affiliate called BayStreet Partners LLC, which closed on two transactions valued at more than $26 million. The transactions included BayStreet Partners and Hamilton-Titan Partners II LLC’s completion of a 313,000-sf sale-leaseback with Evatone Corp. for its 22-acre campus in Pinellas County. BayStreet also acquired the 40,000-sf 525 Grand Regency Blvd. building in Regency Corporate Park in Brandon.

The company also recently accepted a 1.5-million-sf assignment with Carter to direct the Corporate Center and Hidden River leasing effort in Tampa.

Since 2004, Whitaker served in Tampa as the senior vice president/market officer for the West Florida market of the office division of Colonial Properties Trust. He served in the same position for Colonial in the Birmingham market since 2000. Prior to joining Colonial, he served as vice president of marketing for Birmingham-based Daniel Corp.

Colonial Properties Trust declined to comment on Whitaker’s new venture.

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