CNL Commercial Real Estate, a provider of real estate brokerage, investment and development services, has hired 25-year industry veteran Pryse Elam as managing director to lead the company’s development and investment platform. Additionally, he will serve as manager of the company’s new office in South Florida. CNL Commercial Real Estate has created a new development and investment arm, which has plans to invest $300 million in new acquisitions and development projects across the Southeast and Texas over the next 18 months, primarily in office, industrial and retail. These new investments will be in addition to the more than $50 million of real estate projects CNL Commercial Real Estate is currently developing throughout the Southeast, and the more than $100 million of development projects the company controls on which it has yet to break ground. Elam will lead these efforts. “We are delighted to welcome Pryse to the CNL Commercial Real Estate team in this new role,” said Paul Ellis, president of CNL Commercial Real Estate. “His deep background in acquisitions and development and his reputation throughout the Southeast will help our company expand its development and investment platform and take advantage of the opportunities the improving commercial real estate market is creating.” Elam joins CNL Commercial Real Estate from New Boston Fund, where he most recently served as regional director for the Southeast. While overseeing all of New Boston’s real estate activity in the region, Elam led the company in acquiring more than $200 million in assets during a three-year period. He also previously worked for Trammell Crow Company, directing its South Florida operations, including managing and leasing more than 15 million square feet of space and developing $250 million worth of office, industrial and retail space. Throughout his career, Elam has been directly involved in the development and acquisition of more than $1 billion of commercial and multifamily projects along the East Coast. “CNL Commercial Real Estate has been able to quickly establish itself as a leading firm in the markets where it is located, and I am excited to be joining the company to lead both its development efforts and South Florida operations,” Elam said. “The commercial real estate market is beginning to rebound and I look forward to helping CNL Commercial Real Estate identify and take advantage of the acquisition and development opportunities that will bring.” Since its founding in 2007, CNL Commercial Real Estate has grown to more than 100 associates. It is based in Orlando, with offices in Jacksonville, Tampa, Charlotte, N.C., Dallas, Atlanta, Southern California, and now, Boca Raton.]]>
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