Mary Jo Eaton has accepted a new position at CBRE, meaning the largest commercial real estate brokerage in Florida needs a new leader.
CBRE named Eaton president of Florida and Latin America operations in September 2015. She was previously executive managing director for CBRE in Florida.
Eaton is now listed on CBRE’s website as global president of asset services, with over 2.9 billion square feet of commercial property, and valuation and advisory services, with nearly 150,000 valuation assignments annually around the world.
CBRE spokesman Daniel Jimenez said Eaton will continue to lead Florida while the brokerage seeks a new president. CBRE announced the promotion in a corporate release in June.
On the Business Journal’ s list of top Commercial Real Estate Brokerages in South Florida, CBRE ranked No. 1 with $4.65 billion in sales and leases in 2014. It also ranked No. 1 on the Commercial Property Management Firms list with 18.2 million square feet under management in 2015.
CBRE has 18 offices and four affiliate offices in Florida, Latin America and the Caribbean.
A 63-unit apartment building in the Venetian Isles area of Hollywood has traded hands for $7.2 million.
Jacob El-Harar sold the building at 5230 Hollywood Boulevard to Burke Leighton Asset Management, Emile Farah, CEO of the Farah Group, told The Real Deal. Farah, as well as Jean Kelly and Zena Bardawell of the Farah Group, represented both sides of the transaction.
ew York-based Burke Leighton is a private equity investment company that owns and manages residential and commercial real estate properties, according to its website.
“The buyer is going to keep it as an income producing property,” Farah told TRD. “It’s a beautiful building. It is well kept and it has been totally remodeled and is almost fully leased.”
Farah said Burke Leighton financed the deal with $4.7 million in commercial mortgage backed securities (CMBS) financing, from a group led Miami Beach-based LNR Property that also included Berkadia and KeyBank. “Those loans are not easy to get approved, but our client, the buyer, was approved immediately,” Farah said.
Broward County property records show the building was last purchased in July 2012 for $4.05 million.