Cushman & Wakefield's Southern multifamily investment sales group has added a pair of brokers as the firm expands its team in the fast-growing region.
The brokerage said it has hired Alex McDermott and Austin Green as executive managing directors of its Sunbelt Multifamily Advisory Group. McDermott and Green will be based in Cushman & Wakefield's Charlotte office.
"As senior leaders, Alex and Austin will help guide our Carolinas multifamily business and identify growth opportunities for the Sunbelt Multifamily Advisory Group as a whole," John O’Neill, president of U.S. multifamily capital markets at Cushman & Wakefield, said in a statement.
McDermott and Green join Cushman & Wakefield from Capstone, where they focused their business on multifamily investment sales, including properties that owners can upgrade to charge higher rents and new construction opportunities, in the Carolinas. They both had been at Capstone for more than a decade.
Last month, McDermott and Green were part of the Capstone team that represented Signature Property Group in its $129.25 million sale of the Elevate Powell & Broad apartment complex in Fuquay-Varina, North Carolina. New owner Aldon Management renamed the property Aldon at Powell & Broad.
Cushman & Wakefield is expected to announce the hiring of McDermott and Green on Monday. Also on Monday, Capstone said it promoted Ron Corrao to managing director and Eric Liebich to director of the multifamily investment sales team in the Carolinas and Virginia.
Capstone has also opened an office in Raleigh, North Carolina.
At Cushman & Wakefield, the addition of McDermott and Green comes as the brokerage beefs up the advisory group. Earlier this month, the group hired Ian Anderson from JLL to work on investment sales in Nashville and across the eastern portion of Tennessee.
In 2021, the Sunbelt Multifamily Advisory Group closed 429 deals with an aggregate value of $13.8 billion that involved the trading of nearly 85,000 units. The sales volume and transaction number ranked No. 1 in the region, Cushman & Wakefield said, based on deals reported to CoStar Group.
Adding brokers such as McDermott and Green to help guide Cushman & Wakefield's apartment sales business in the Carolinas "will allow our firm to continue to be at the forefront of what’s next for the sector,” according to a statement.
Cushman & Wakefield's Sunbelt Multifamily Advisory sales group has 98 people who cover 11 states in the region.