Fernando Polanco Joins as Senior Vice President of Multifamily Investment Sales
MIAMI, Florida—August 24, 2020—Lee & Associates Commercial Real Estate Services is pleased to announce the addition of Fernando Polanco as Senior Vice President specializing in multifamily investment sales throughout South Florida.
Fernando Polanco has an impressive track record having closed over $101 million in multifamily transactions totaling over 1,000 units in just the last 6 years alone. He had also directed the national marketing efforts for a portfolio of 57 assets totaling 17,000 units throughout the southeastern US and provided management and support for the successful disposition of eight properties valued over $355 million.
Prior to joining Lee & Associates, Fernando served as a Director at Berkadia managing contract negotiations and the disposition of multifamily properties. He had also served with the investment sale group at Marcus & Millichap. His extensive experience included the due diligence and marketing implementation for 15 acquisitions totaling 5,550 units, with a total value of $615 million while at Carroll organization.
“Fernando works hard to keep owners informed about the market, and more importantly about strategies that make the operation of their buildings faster, more certain, with less expense, and more profit,” says Matthew Rotolante, SIOR, CCIM and President of the Lee & Associates South Florida office. “We are ecstatic to have Fernando join the Lee South Florida team!”
“Lee & Associates is the best firm for me to provide significant value for my client’s needs. In addition to the National platform, the senior leadership in South Florida is a tremendous resource that I can leverage for my diverse list of clientele. I am extremely excited and highly confident that Lee & Associates will allow me to achieve the most competitive environment and highest returns for investors,” Fernando Polanco had shared. “Another reason I decided to join Lee & Associates is the tremendous support staff and extensive third-party resources to offer to Principals.”
“Having played Professional Baseball, Fernando has shown he is 100% a team player that looks to create value for his multifamily clients,” Rotolante adds. “Whether he helps to find the right vendor to refinance, repair the roof, cut the lawn, fix the a/c, or make rent collections easier, Fernando knows the right person and will assist. But the most impactful way he assists his owners is by driving pricing higher through competitive bidding in a complex and comprehensive sale process that achieves superior results each and every time.”
Fernando has already hit the ground running actively engaging with clients and property owners, offering much needed support as many continue to endure the impacts of the ongoing coronavirus pandemic.
“The current unemployment environment significantly hinders the ability to increase rents. In addition, the lack of rent growth reduces the ability for capital expenditure improvements for assets,” Fernando says. “The potential loss of occupancy will also effect the debt for many value-add multifamily properties. The good news is that the eviction moratorium will hopefully provide enough of a short-term boost to hold off large vacancy drops. Ultimately, there could be more trouble long term until a vaccine is fully adopted.”
While the pandemic continues to impact the commercial real estate industry across the globe, Fernando is prepared to stand by to provide guidance and expert insight to help investors and property owners navigate the challenging months ahead. “The second half of 2020 for multifamily investment sales in South Florida provides an unprecedented level of uncertainty for investors. With COVID surges still rising in certain areas, a volatile election year looming, investors must remain highly vigilant in monitoring how these factors will affect their communities. We can guarantee however, the highest level of service and value for any market evaluations for investors and their assets.”
Fernando Polanco’s keen analytical approach, comprehensive market knowledge, bilingual communication and engaging personality will be an excellent resource for the diverse South Florida marketplace. He embraces a strong ethical code of placing his client’s interest above of his own, and he brings a unique set of technical skills to each transaction to navigate the most complex real estate transactions on behalf of his clients that are a tremendous benefit to the Lee & Associates team in South Florida.
About Lee & Associates South Florida
Lee & Associates South Florida is a full service commercial real estate brokerage firm providing the highest level of service to South Florida’s diverse industrial, office, retail, multifamily, investment and land sectors. Our dedicated team of professionals is led by Matthew Rotolante, a 4th generation Miami native in a family that has owned and operated commercial property in the South Florida market since 1928. Our bilingual culture allows for open communications throughout the company, fostering collaboration and information sharing. In addition, the Lee & Associates’ robust national network that sold and leased nearly $16 Billion in commercial real estate in 2019 offers clients a cross-market platform of services and expertise across all asset specialties and representation roles.
About Lee & Associates
Lee & Associates is a commercial real estate brokerage, management and appraisal services firm. Established in 1979, Lee & Associates has grown its service platform to include offices in the United States and Canada. Lee & Associates provides superior market intelligence in office, industrial, retail, investment and appraisal to meet the specialized needs of our clients. For the latest news from Lee & Associates, visit lee-associates.com or follow us on Facebook, LinkedIn, Twitter and Link, our company blog.