Two multifamily companies, North Palm Beach-based Electra America and Tampa-based Robbins Property Associates, have merged to form a new firm with a combined $2 billion portfolio. The new company, Robbins Electra will have 20,000 apartments in 66 locations across Florida, Texas, Georgia, North Carolina, Virginia and Maryland. The company will be led by Joseph Lubeck, the CEO of Electra America, and former Robbins Property Associates founders Steve Robbins and Mitchell Robbins. Robbins Electra will have its headquarters in Tampa, but Lubeck will maintain his offices in North Palm Beach. In July, Electra America and Robbins Property Associates formed a joint venture to buy 12 apartment complexes in North Carolina and Virginia for $220 million. “This is an ideal merger,” Steve Lubeck, CEO of Electra America said. “Both companies have experienced management teams with an excellent track record of successful operation, investment and value creation. Robbins brings deep expertise on the management side and a hands-on approach to creating places people call home.”
