HOUSTON – (Realty News Report) – Colliers International has strengthened its Houston office by hiring three leading multifamily investment brokers: Chip Nash, Todd Stewart and Bob Heard, all joining as senior vice presidents.
These experienced Houston brokers will work alongside Colliers’ Senior Managing Director of Multifamily, Teresa Lowery, and Associate Jim Humphries to expand the firm’s investment sales and capital markets services focused 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 previously worked at JLL and bring a combined 70-plus years of multifamily investment experience to Colliers.
Teresa Lowery, a national leader among female multifamily brokers, brings 40 years of apartment investment experience to the group.
Market data underscores Houston’s active multifamily landscape. According to RealPage, Inc., the city’s overall multifamily occupancy rate was 92.9% at the end of Q2 2020. Mid-year 2020 deliveries reached 13,699 units— the second-highest total among the top 50 U.S. markets, trailing only Dallas.
ApartmentData.com reported Houston’s apartment occupancy at 89 percent in September 2020, down from just over 90 percent the prior year. Occupancy fell notably during the pandemic but showed signs of stabilization through the end of summer.
Houston remains a major center for multifamily development. In downtown Houston, Hines is constructing The Preston, a 46-story tower with 373 residential units.
Profiles:
Chip Nash: Prior to joining Colliers, Nash was a Managing Director at JLL, where he specialized in private capital investment sales of multifamily properties. His career also includes roles 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. Over his career he has negotiated more than 500 multifamily transactions with an aggregate value of approximately $12 billion. He previously served as Managing Director at JLL, Senior Managing Director with HFF and Executive Vice President with CBRE.
Bob Heard: Heard joins Colliers after roles as Vice President at JLL and Senior Director at Berkadia. He has 12 years of commercial real estate experience concentrated in multifamily investment sales and 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
