NAI/Merin Hunter Codman Ramps Up Multifamily Division With New Hire

May 29, 2013 No Comments by

NAI/Merin Hunter Codman announced that Duane Smith has joined the firm as Senior Commercial Associate in charge of multifamily investments.

He will spearhead the firm’s burgeoning multifamily practice that advises institutional and private investors on property acquisitions — including distressed asset opportunities — as well as dispositions, refinancings, and multifamily asset and property management.

Mr. Smith joins NAI/Merin Hunter Codman from First Service Realty, a Miami-based residential brokerage with approximately 20 commercial agents. During his tenure there, he was Director of the Commercial Division responsible for overseeing commercial brokerage activities, investment analysis, and commercial leasing among other activities.

Prior to that, Mr. Smith was Director of the Commercial Division of Ocean View International Realty in Miami, where he grew commercial transaction volume to more than $300 million within a three-year period. His responsibilities there included overseeing the firm’s agent base as well as site analysis, marketing and sales.

Mr. Duane Smith brings to NAI/Merin Hunter Codman over two decades of senior corporate sales, marketing and account management at MCI and IBM. At MCI, he oversaw major national accounts such as AOL and Bank of America, and more than 100 field representatives. At IBM, he was a regional sales manager among other noteworthy positions and handled major accounts such as Bellsouth, Pratt & Whitney and Price Waterhouse.

“Now is an ideal time for multifamily owners, operators — and prospective owners and operators — to evaluate options for buying, selling and refinancing,” said Jordan Paul, Chief Executive Officer of NAI/Merin Hunter Codman. “Duane Smith is a commercial real estate veteran well versed in the multifamily market and with strong contacts in South Florida. We look forward to him expanding our presence in the multifamily industry.”

Added Duane Smith, “This is an exciting time at NAI/Merin Hunter Codman as we ramp up the multifamily business. We’re entering a cycle of significant opportunity. There are low land values in some places that provide good opportunity for development, while in A-quality locations, there are B and C properties that offer significant growth potential.”

Duane Smith received a Bachelor’s Degree in Architecture and Urban Design from Cornell University in 1977.

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Industry News, Multifamily, NA, Palm Beach County Multifamily
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