ORION Investment Real Estate expanded its multifamily group with the addition of five industry veterans specializing in acquisitions and dispositions of multifamily properties.
“We believe that after a brief pause over last summer largely caused by an increase in interest rates, multifamily is heating up again throughout the Valley,” stated Ari Spiro, president of ORION. Though transaction volume has dropped since this summer, Spiro continues, ”quite a few larger, institutional transactions closed in the 4th quarter, which usually gives the entire market confidence and a precursor that B and C caliber properties will begin moving again. Based on our activity, we project that B and C deals will begin to move with the velocity that we experienced in 2012 and beginning of 2013 as we move in the second quarter.”
To take advantage of this resurgence in multifamily, ORION has grown its multifamily presence in recent months with the hiring of Jackie Allen, Linda Ayala, Jason Campagna, Joseph Dietz and Dennis Hoth; each of whom brings decades of real estate experience and multimillion dollar track records to ORION’s already successful and well-established multifamily platform. “We are excited to add this type of top-notch talent to our team. The new additions bring a vast track record with experience closing smaller, privately owned projects all the way up to institutional grade properties,” said ORION Principal Sean Stutzman.
ORION closed nearly $100M in apartment transactions recently and is looking to build upon that sales volume as the economy continues its recovery. ORION’s investment sales brokers have closed over $500M in transactions since the firm’s inception in 2009. Stutzman adds, “ORION will continue its growth by attracting and maintaining experienced Brokers of the highest ethical and moral standards, who appreciate our team approach.”
Allen, Campagna and Dietz bring nearly a billion dollars inmultifamily business with them to ORION. Allen and Dietz have worked with Spiro for more than a decade, “I am honored to rekindle a working relationship with Jackie and Joe. Both were top producers at national firms And Jason was quite a find.”
Campagna joins ORION most recently from RE/Max, where he was one of the top commercial brokers in the state. With nearly 50 closings a year for the past several years, Jason brings a tireless work ethic and offers a breadth of real estate knowledge to his diverse client base.
Hoth joins ORION from CBRE in Omaha, Neb., and Ayala has been active in both the brokerage and as an investor.
“With the institutional approach offered by Hoth and Ayala’s vision from an ownership side, we can offer unmatched analysis and perspective in this marketplace,” continued Spiro.
Stutzman concludes, “For the first time in nearly decade, both commercial and multifamily segments are stable and showing clear signs of growth. We are poised to take advantage of this increase in investment sales volume and continue our expansion.”