Brokers bring Capstone Cos. west
Three veteran Oklahoma apartment brokers have launched a North Carolina multifamily property firm into the West with offices in Oklahoma City and Tulsa, its first locations this side of the Mississippi River.
Cap stone Cos ., based in Charlotte, started here with William Forrest, formerly a longtime broker with CBRE, and David Dirkschneider and Mike Marrara, both formerly with Price Edwards & Co.
Forrest has 35 years of commercial real estate experience and led a team at CBRE that brokered the sale of more than 400 multifamily properties totaling 72,000 units for more than $1.8 billion.
Dirkschneider has 15 years of experience in multifamily brokerage, site selection, and management, with more than $500 million in sales.
Marrara has been active in commercial realty for 34 years and has been involved in more than $100 Marrara million in
transactions among various property types.
Capstone's offices are at 16354 Muirfield Place, Suite A, and in Tulsa at 1709 S Utica Square, Suite 250. In addition to the corporate office in Charlotte, Capstone has brokerage offices in Cincinnati and Columbus in Ohio; Richmond, Virginia; Orlando and Tampa in Florida; Nashville, Tennessee; and, since January, Atlanta.
Dirkschneider said joining Capstone was a chance he couldn't ignore.
“It was a very difficult decision and was a very hard conversation to have with Ford,” he said, referring to Ford Price, co- founder and managing partner of Price Edwards .“I have tremendous respect for him and the other partners there and wanted to become a partner myself some day. However, I had an opportunity come up that I just felt like I couldn't pass.”
Dirkschneider said he, Forrest and Marrara can do more by combing their talents and experience.
“We believe we will really start to get a lot more market share than we both had apart,” he said.
Cap stone, founded in 2008 at the start of the Great Recession, said Dirkschneider and Forrest, its managing directors in Oklahoma, and Mar ra ra, a di rector, bring the kind of experience that fits its “multifaceted platform.”
“Each team member has a long-standing track record of success in representing both institutional and private capital clients selling individual properties and portfolios up to 2,000 units,” the firm said. “Specifically, the team has gained unique experience selling distressed assets. In fact, they have rep resented over 50 different banks, life insurance companies, government agencies, advisors, and special servicer sin the sale of foreclosed apartment properties in more than 100 separate transactions.”
Before going into property brokerage, Dirk schneider was general manager for a large Oklahoma privately owned multi family investment company with assets of more than $300 million.
“He was responsible for oversight one very aspect of their operations, from construction and rehabilitation projects to the day-to-day activities over all properties,” according to TCN Worldwide Real Estate Services, a consortium of independent commercial real estate firms.
Before joining Price Edwards& Co ., he served for seven years in the U.S. Marine Corps, which included a tour in Operation Iraqi Freedom.
Forrest joined CBRE in 1985. In 2000, CBRE-Oklahoma was formed as an independently owned affiliate of CBRE Inc. He was a principal of the company and managing director of the Oklahoma City office. In 2015, CBRE-Oklahoma was purchased by CBRE Inc ., and he continued as advisory and transaction broker.
Marrara has been in the commercial r eal estate business since 1986 with projects in engineering/ surveying and brokerage in Tulsa. In addition to multifamily brokerage, his background includes land surveying, civil engineering, land planning and dev elop ment, as well as multifamily branding and repositioning, according to TCN Worldwide.
Real Estate Editor Richard Mize edits The Oklahoman's Real Estate section, and covers housing, construction, commercial real estate, and related topics for the newspaper and Oklahoman.com. Contact him at rmize@oklahoman.com. Please support his work and that of other Oklahoman journalists by purchasing a subscription today at oklahoman.com/subscribe.