Eastdil Secured Hires Multifamily Execs Away From CBRE

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Eastdil Secured has hired J. Philip Brosseau, Jr. and Ryan Reid from CBRE to serve as managing directors focused on the multifamily space in the southeastern U.S. and Texas, Commercial Observer has learned.   

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The pair will lead a combined practice across the Sun Belt, with Brosseau working out of the firm’s Atlanta and Charlotte offices and Reid based out of the Dallas office, according to Eastdil. 

“Multifamily is an extremely important and growing asset class for many of our clients, and sales in the Sun Belt region have represented almost 40 percent of the national transaction volume for several years running,” said D. Michael Van Konynenburg, president of Eastdil, in prepared remarks. “These key hires will allow us to further build on an important and growing area of our business.” 

The pair had previously served as vice chairmen at CBRE; Brosseau helped lead the Charlotte office’s southeast multifamily team for the past decade, while Reid oversaw the firm’s Texas multifamily investment platform and founded its national student housing platform. 

“Multifamily sales and joint ventures represented the most actively traded asset class in the United States in 2018, and I am confident that trend will continue,” Reid said in prepared remarks.

The executives are expected to play an active role in Eastdil’s national multifamily practice, which recorded more than $22 billion of deals in 2018, according to the firm. 

Eastdil’s other recent hires across the board include Will Silverman from Hodges Ward Elliott in its New York office, Matt McCoy from Stonemont Financial Group in its Charlotte shop, and Andy Wimsatt from CBRE in its Washington D.C. outpost. 

A CBRE spokesperson declined to comment.