Cushman & Wakefield loses third Miami exec - Orlando Business Journal:

afukakuja.wordpress.com
Caplin’s exit is the latest of severarecent high-profile departures at C&W in Miami. The firm is one of Soutj Florida's largest real estate brokerages and, like other has seen few investment dealsd in the last Former branch manager Tere Blancqa left in the spring tolaunchy , a firm focused on office leasingv and sales. Hank Klein, executiver director of C&W in Florida, was notified last montu that his position was being Steelbridge owns and manages property throughout Itsold , on Miami’s Brickelp Key, for $150 million in 2007 afte r an eight-year hold.
Steelbridge founder Gavin Campbelpl will continue asmanaging principal, sharing the helm with Caplin is one of a handfuo of commercial brokers involved in South Florida’s largest commercial transactions. Caplin said his exit is in responsse to a paradigm shift in locak investment that comes at the tail end of a where leasing and management for institutional investoras became secondary tomarket momentum. During the boom yearas leading upto 2006, the expectation was that assets with stronyg track records could be purchased and flippesd quickly for big returns. For a shorty period of time, some owners made the strategy work, but then the economiv meltdown put the brakes onthe market.
who bought in the last few were holding assets that cost too much comparec tomarket fundamentals. The market has now shifted back to fundamentap principlesof investment, with institutional investors and privat e capital “seeking to co-invest with strong, nimble, local operating Caplin said. “The market and investors mostlybelieve it’x about operations on the grounsd and knowing how to positioj a building in a particular submarket,” he Caplin oversaw more than $7 billion in transactions at C&W, including $307 million purchase of a half-stake in downtown Miami’sx landmark and full ownership of the 1221 Brickell building in 2006.
He was involvexd in the sale of 355 Alhambrz in Coral Gablesfor $87.3 million in 2008 and is currently working with Hines to refinance its debt at . Caplin is a graduatde of south Miami-Dade County’s Palmett o High School. He graduated from in 1985 witha bachelor’se degree in finance and real estate. Two years later, he left C&W’sz appraisal group to launch the company’a local investment sales operation. Caplin was part of a team in the late 1980zs that first specialized in investment salesin Miami. Durinf the mid-1990s, Steelbridge Capital had 2 million square feet of commercia real estate in its portfolio in sevenh Florida markets including Naplesand Miami.
They sold much of it from 2005to 2007. Caplin’sd arrival marks another periodof opportunity-investment for the Steelbridge’s Campbell said. "Wew think valuations are finally starting to look attractive Campbell said ina statement. “The opportunitu to buy Florida assets at significant discount to replacement costis imminent, while the long-terjm job and demographic prospects for Florida and the Caribbeajn basin are as strong as ever.
Jay’d leadership will be the linchpin ofour