HOUSTON – (Realty News Report) – Colliers International has hired three top multifamily investment brokers – Chip Nash, Todd Stewart and Bob Heard, as senior vice presidents in its Houston office.
These prominent Houston brokers will be joining Colliers’ Senior Managing Director Multifamily Teresa Lowery and Associate Jim Humphries, to grow the company’s investment sales and capital markets services group with a focus on multifamily properties.
“Chip, Todd and Bob are three of the most experienced multifamily investment brokers in Houston. They bring long-standing private capital expertise and institutional client relationships in the multifamily market,” said Colliers Houston President, Patrick Duffy. “We are thrilled to add such a deep bench to our team and look forward to working with them. They are a great addition to our Colliers Houston family.”
Nash, Stewart and Heard had been with JLL. The trio have more than 70 years of combined multifamily investment experience.
Colliers’ Teresa Lowery, one of the top female multifamily brokers in the nation, has 40 years of apartment investment experience.
According to data provided by RealPage, Inc., Houston’s overall multifamily occupancy rate was 92.9% at the end of Q2 2020. Annual deliveries as of mid-year 2020 totaled 13,699 units, the second highest delivery total in the top 50 U.S. markets, trailing only Dallas.
According to ApartmentData.com, he Houston apartment market had an occupancy rate of 89 percent in September, down from over 90 percent a year ago. Occupancy had fallen significantly during the pandemic, but it appears to have stabilized as the summer ending.
Houston is a top market for multifamily construction. In downtown, Hines is building a 46-story, 373-unit tower called The Preston.
Profiles:
Chip Nash: Before joining Colliers, Nash was a Managing Director for JLL focusing exclusively on private capital investment sales of multifamily properties. Previous to JLL, Nash held positions at Berkadia, Hendricks and Partners, and Pinnacle International Realty Group.
Todd Stewart: Stewart brings more than 30 years of experience representing pension funds, REITs, insurance companies and banks in multifamily sales transactions. Over his career, he negotiated more than 500 multifamily transactions, totaling $12 billion in aggregate value. Stewart was previously a Managing Director at JLL, a Senior Managing Director with HFF and an Executive Vice President with CBRE.
Bob Heard: Heard, who was previously a Vice President at JLL and Senior Director at Berkadia, will accompany Nash and Stewart to Colliers. Heard brings 12 years of commercial real estate experience, focusing on multifamily investment sales. He is a graduate of The University of Texas at Austin
Oct. 7. 2020 Realty News Report Copyright 2020
File: Colliers Adds Multifamily Talent
File: (2) Apartments. Chip Nash, Todd Stewart, Bob Heard. Colliers Adds Multifamily Talent. Teresa Lowery. Jim Humphries. Patrick Duffy. Houston. 10-7-20
