Two of Rosewood Realty Group’s most up-and-coming brokers are breaking away to form their own firm, Base Realty Group, Commercial Observer has learned.
Jonathan Brody, who started at Rosewood about a decade ago while still in college, and Michael Schattner launched Base Realty with a plan to focus on multifamily, industrial and development investment sales throughout the country.
Brody and Schattner are launching the business in a difficult economic climate amid high interest rates and inflation, begging the question of whether now is the right time to branch off. But with current clients bringing about $150 million in sales in the pipeline for the week-and-a-half-old firm, Brody said Base could come out on the other side in a very different market and have enough time to prepare to capitalize on that.
“I’m able to now take the next three months and build out an infrastructure that’s going to allow my company to grow extremely quickly.” Brody told CO. “There’s a potential bloodbath on the streets when it comes to [lenders] forcing their borrowers to sell or even lenders wanting to sell the notes. There’s so much opportunity coming. If I don’t have everything set up for that, I’m gonna miss the boat.”
The new firm comes three years after Brody took on the role of president of the national investment sales division at Rosewood, with Schattner most recently serving as vice president of investment sales, according to LinkedIn. The pair’s profiles list Brody as Base’s CEO and Shattner as president.
Rosewood did not immediately respond to a request for comment.
Brody generated up to $3 billion in sales for Rosewood since he joined the firm by expanding into 25 different markets, according to Base, while Schattner has closed about $800 million in sales throughout his brokerage career. Schattner got his start in 2019 at Cushman & Wakefield.
“While the current market has been challenging to navigate, we continue to see immense opportunity in commercial and multifamily real estate sales and transactions,” Schattner said in a statement. “Our off-market expertise is particularly useful here, as is our ability to source deals across all asset classes. Our goal is to deliver results to our clients with an unwavering focus on exceptional service and building lasting relationships.”
Mark Hallum can be reached at email@example.com.