MIAMI--(BUSINESS WIRE)--Cypress Equity Investments (CEI), a national multifamily developer, has established a regional presence in Florida with new offices in St. Petersburg and Ft. Lauderdale, announced Michael Sorochinsky, CEI’s Founder and Chief Executive. This is the third regional expansion to result from the firm’s October 2021 Joint Venture partnership with New York-based Winter Properties. CEI recruited local leaders Errol Blumer to be CEI’s Senior Vice President of Acquisitions, and Wesley Geys to be CEI’s Senior Vice President of Development to seek garden, mid-rise, and high-rise off-market multifamily opportunities across the state. CEI’s St. Petersburg office is located at 333 3rd Ave N, Suite 230. CEI’s Ft. Lauderdale location will be announced in the near term.
“While our national expansion has been advancing strategically, with three new regional offices, we understand that the key to building a strong foundation for each location is to bring onboard the right local leaders to drive it forward,” stated Sorochinsky. “In Errol and Wes, we are confident we have secured regional experts who share our commitment and passion for working with community leaders to build and own multifamily communities with integrity, honesty, and a dedication to quality.”
As Senior Vice President of Acquisitions, Errol Blumer will operate out of Ft. Lauderdale leveraging more than a decade of local market expertise and deep industry connections to advance new partnerships and identify investment opportunities throughout the state. Errol has been involved in the development of more than 12,000 multifamily units and cumulative transactions valued at more than $2 billion across multifamily, mixed-use, and commercial assets throughout the Southeastern United States. Prior to CEI, Errol opened the South Florida Multifamily Investment Sales office for Northmarq, where his team led and managed the acquisitions and disposition of multi-housing properties and land for development throughout Florida. Prior to Northmarq, Errol worked at Cushman & Wakefield, Avison Young and ARA-Newmark, where he was responsible for multifamily and commercial investment sales and capital market activities.
Wesley Geys, as Senior Vice President of Development, will lead the firm’s St. Petersburg Office, spearheading development activities, including the sourcing, capitalization, and execution of multifamily projects throughout Florida. Wesley brings more than 20 years of real estate experience during which he was involved in the development of 6,400 multifamily units with a capitalized value of $1.8 billion. Prior to CEI, Wesley was a Vice President with Jefferson Apartment Group, Director of Development with Tavistock Development Company, Director of Development with Greystone, and a Development Manager with Landmark Companies.
With offices in Aspen, Los Angeles, Boston, Chicago, Dallas, Denver, Florida, and New Jersey, CEI has completed 9,004 apartment residences to date and has more than 11,000 in the pipeline. The Q4 2021 partnership with Winter leverages CEI’s best-in-class development capabilities with Winter’s global scale and financial strength, empowering the team to better capitalize on market opportunities. The Florida offices follow the March 2022 opening of the firm’s Dallas office and the December 2021 opening in Denver.
About Cypress Equity Investments
Cypress Equity Investments is a national real estate investment company comprised of professionals who have been executing real estate investment strategies for the past three decades. Since its inception in 2001, CEI has been executing ground-up and value-add real estate projects in all asset classes, with a primary focus on multifamily, in top-tier markets across the United States. For more information, explore https://www.cypressequity.com/.
About Winter Properties
Winter Properties, a related business of Standard Industries, is a vertically integrated real estate investment, management and development company that focuses on strategic investments and ventures throughout major urban markets in the U.S., targeting both asset- and entity-level investments. Winter brings the global scale, reach and know-how of its related companies—Standard Industries and Standard Investments—to its partners, who bring the geographic and sector expertise. For more information, please visit https://www.winter.com/.
