Flagler Diversifies

Jul 12, 2011 No Comments by

Flagler Real Estate Services has expanded into the retail and multi-family sectors by buying retail brokerage DBR & Associates LLC and multi-family builder Aucker Developments.

With its purchase of DBR & Associates, a Ft. Lauderdale-based retail brokerage and property management firm, Flagler gains a $400 million, 2.5 million square-foot portfolio of approximately 40 retail properties throughout the Southeast and Mid-Atlantic states.

As part of the deal, Flagler is bringing aboard firm principals A.J. Belt and Brian Mark and their combined 40 years of retail real estate experience, as well as DBR’s 14-person staff.

Belt, who started with the organization in 1987 as Belt & Associates, helped create a publicly traded real estate fund that ultimately led to the company’s acquisition of 26 retail properties spanning eight states.

Flagler’s purchase of Auker Developments adds  Scott Auker and his experience in the development and management of 5,000 multifamily and condo units throughout the Southeast and Mid-Atlantic states.

Auker’s primary focus will be advising developers, investors and landowners in the acquisition, disposition and development of multifamily properties in the Southeast.

Source:  SFBJ

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Industry News, Multifamily, NA, Office, Retail
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