Cushman & Wakefield, a global brokerage company based in New York City, announced on Tuesday its acquisition of Atlanta-based Multi Housing Advisors (MHA), creating the leading multifamily brokerage firm in the Southeast U.S.
Terms of the deal were not disclosed.
Douglas Sams, commercial real estate editor for the Atlanta Business Chronicle, reports that Cushman & Wakefield commands almost 24% of Southeast multifamily investment sales year-to-date. Combined, Cushman & Wakefield and MHA did nearly $3 billion of transactions last year — capturing 20% of Southeast multifamily sales. CBRE Group Inc. was second, with just under 16%.
Cushman & Wakefield’s expanded multifamily housing practice will be housed in Atlanta, with 58 employees including 19 brokers.
MHA co-founders Josh Goldfarb and Marc Robinson will serve as Cushman & Wakefield’s U.S. multifamily leaders. Cushman & Wakefield’s existing Southeast multifamily group is led by Chris Spain, Mike Kemether, and Brandon Whitesell.
The move broadens Cushman & Wakefield’s reach to more clients, from institutional owners to private-equity investors, and it gives the company a sweeping geographic coverage and scale, said Noble Carpenter, Cushman & Wakefield president, capital markets, Americas.