Foundry Commercial poached former CBRE broker David Bateman to lead the company’s commercial real estate services in South Florida.
Bateman will helm Foundry’s recently launched investment sales, debt and financing, leasing and property management division in the tri-county region, he said. The services arm will work on behalf of Foundry and other clients.
Orlando-based Foundry, a development and investment firm, has commercial real estate services divisions in its 12 other Sun Belt offices, though so far not in South Florida.
“For whatever reason our development arm got up and running first here, but brokerage hadn’t gotten off the ground,” said Bateman, who is based in Foundry’s Boca Raton office and also will work in Coral Gables. “After many, many years of wanting to, we are building up our services arm” in South Florida.
Bateman’s career includes work for the Ansin family’s Sunbeam Properties from 2007 to 2010, including leasing Miramar Park of Commerce; The Villages from 2010 to 2012, leasing its health care, office and industrial portfolio from 2010 to 2012; and Avison Young from 2012 to 2013, according to his LinkedIn. More recently, he had stints as leasing broker at Silver Star Properties REIT and BRE Partners. He was at CBRE from 2020 to January.
Foundry, led by Paul Ellis, has a development and investment portfolio of $4.3 billion and 29 million square feet of completed projects, according to its website. Its brokerage deals were valued at $2 billion last year.
In South Florida, Foundry’s property management portfolio spans 10 million square feet, including its own real estate and that of its clients.
“Every brokerage wants to have a strong property management business because it diversifies them and gives them some stability on cash flow,” Bateman said.
Bateman cited the ability for Foundry employees to invest in the company’s development and investment deals as a motivating factor to join the firm.
It “allows you to build wealth and not just make fees,” he said. “Employees at the firm have that opportunity.”
Bateman’s move to Foundry comes as brokers across South Florida are jumping companies. Last summer, a top Cushman & Wakefield team led by Robert Given left the brokerage to join CBRE. In January, Gian Rodriguez also traded Cushman for CBRE.
Also, a former Marcus & Millichap team consisting of Ahmed Kabani, Luis Garino, Suraj Dalal, Kian McLean and Lucas Mondino launched Miami-based Kabani Hotel Group, which will focus on hospitality deals.
