Jan 22

APG Broker Spotlight: David Divine

David Divine north carolina commercial real estate broker raleigh

To help our clients get to know the faces available to work with them, we are doing a regular series we call our Broker Spotlight.

Today’s spotlight is on David Divine, Director, Commercial Investment Sales. David is also the company’s top producer for 2021, representing his clients in over $61 million in acquisition and disposition transactions.  This marks David’s third year in a row as top producer (2019-2021).

Read on to find out a little bit more about David!

Where do you see the market going right now?

2021 had historically low cap rates in the investment market, driven primarily by a flight to safety in properties leased to credit tenants. A lot of owners sold due to compressed cap rates. These sellers though, in turn became buyers needing to do 1031 exchanges, which further increased the demand for investment property, thus compressing cap rates even more. You will continue to see a high demand from 1031 exchange buyers in the first half of 2022, but the Federal Reserve has announced they will be raising interest rates two or possibly three times in 2022. Increased interest rates will in turn increase cap rates, but not by much due to 1031 exchange acquisition demand, which is acting like a hedge in the market.

What clients do you work with?

I work with both buyers and sellers in the acquisition and disposition of income producing, investment properties. The majority of my clients are local to the Triangle and the state of North Carolina, but I also represent large regional investors throughout the southeast U.S.

What would you consider your trophy transaction?

Representing the seller of 1814 Westchester Drive in High Point, a 105,000 SF single tenant medical office building leased to Wake Forest Baptist Health. The buyer was Global Medical REIT. The acquisition price in 2019 was $24.75M, or $236/SF. This was an institutional grade transaction due to the value of asset, and the buyer being a REIT.

What should a potential client know about you?

Being a commercial real estate advisor in Raleigh for 25 years, facilitating over $500M in transactions, has provided me with a deep knowledge of local and statewide markets. In 2012, I shifted my focus and specialty to investment sales. I have been the Director of Investment Sales at APG since 2017.

Whether you are actively seeking to place capital via a 1031 tax deferred exchange acquisition, or you are in the market to dispose of an asset, please consider reaching out to David for his vast local and regional expertise.


You can read more about the talented and knowledgeable members of the APG Advisors team here. If you are interested in investment sales in North Carolina, get in touch with APG at your earliest convenience.