Top-Producing Sales Brokers in Southern California for 2011
Number 15 is Investment Real Estate Associates
Raffi Krikorian, Chief Executive Officer
Total Square Footage of Leases Closed: 402,367
Total Dollar Value of Sales: $317,870,000
Investment Real Estate Associates (IREA) is a national investment real estate advisory services firm based in Los Angeles.
IREA completed 82 sales transactions, a total of 402,000 square ft in 2011. Among these, were a $12 million turn-around apartment complex in Santa Monica, on 14th Street, and an $8.5 million condo conversion project in the Pacific Palisades.
"Our research indicates that excluding land, first six months of 2011 witnessed a whopping volume increase of 69% in $1 million plus deals compared with 2010, with apartments, office, and hospitality in the lead. Due to institutional liquidity, the Southern California market will continue in the next two years to witness more aggressive acquisitions in investment grade property types, concentrated mostly on apartments and office buildings. Our prognosis is that, interest rates will continue to remain at or around current levels," according to Raffi Krikorian, Chief Executive Officer at IREA.
Data flow has definitely picked up in 2011, and those who are right in the middle of it are the brokers. Now more than ever, buyers and sellers need to work with top brokers to get those deals done. This is especially true in a region as vast and varied as Southern California, with its huge inventory of buildings in every property type, from downtown high-rises to massive industrial buildings near the region's ports and in the Inland Empire, along with trophy retail centers, luxury hotel resorts and apartments for every kind of investor. The top firms and individuals featured in this year's list run the gamut from full-service firms with capabilities in leasing, investment sales, asset management and other services, to regional, local and boutique firms.
The editors of Real Estate forum collected deal information from leasing and investment brokerage houses across Southern California--an area defined as Los Angeles, Orange, Riverside, San Bernardino, San Diego, Santa Barbara and Ventura counties--to come up with a roster of the most active companies. This year's list features the top 15 landlord- and tenant-representation companies, ranked by the total square footage of leases closed, followed by the top 15 investment brokerage firms, ranked by the total dollar volume of sales completed. All data shown has been supplied and verified by the companies themselves, and deal information is for transactions closed in the Southern California area between July 1, 2010 and June 30, 2011. Each firm also supplied its top leasing and sales producers, presented in alphabetical order.
Originally Reported in Real Estate Forum, December 2011.