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TAMPA, FL-NAI Tampa Bay has realigned its multifamily division in response to the number of distressed apartment properties that are expected to go on the market statewide in the coming year. The move also follows the departure of two key brokers from the local firm.

John Burpee will retain the lead broker position as division president, while Sean Lance has been promoted to president of troubled asset optimization for the multifamily division, working directly with Burpee while focused on distressed assets throughout Florida. Brad Carter has been promoted to vice president of the division and will focus on local investor properties with 50 units or less.

“We feel this staff realignment is positive for our clients,” says Burpee, an apartment broker in the Tampa Bay market for more than 20 years. “Our firm was built on long-term relationships and reducing the amount of brokers with overlapping responsibilities brings us closer to our core group of clients.”

Burpee notes that the Tampa Bay market led all of Florida with 28 multifamily transactions of properties having at least 50 units over a one-year period ending in the third quarter. That level of transactions “is a sign that investors maintain a favorable long-term view of the area,” he says.

Lance adds that nearly half of those transactions are classified as distressed. “We are currently working on assignments throughout the state with local, regional and national lenders and special servicers,” he says, “and feel this is going to drive our business over the next 24 months.”

Meanwhile, former NAI Tampa Bay multifamily investment specialists Bill Renje and Casey Babb have joined Marcus & Millichap Real Estate Investment Services in Tampa. The pair have 15 years combined experience and will continue to represent sellers of multifamily properties.

“Their experience, in-depth knowledge of the Tampa Bay and Gulf Coast apartment markets, and their dedication to providing institutional and private investor clients with superior transaction and advisory services will further enhance our presence in the Tampa Bay area and throughout Florida,” says Bryn Merrey, Tampa regional manager with Marcus & Millichap.

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