Richard Palmiter is a Vice President serving the Minneapolis – St. Paul Metropolitan area at CBRE. Currently, he represents banks, investors, developers, and landowners in their sale/purchase of special assets and REO (Real Estate Owned) assets.
Mr. Palmiter provides leadership for the following business lines:
- Brokerage Services: Provides strategic, integrated and comprehensive commercial real estate services for property owners and industries in the office, industrial, residential, and retail sectors.
- Land Services: Provide extensive knowledge of local market conditions, competitive land parcels, and the regulatory environment to assist land owners and developers in forming a strategy for maximizing the value of their real estate holdings.
Mr. Palmiter has more than 20 years of experience in real estate and finance. During the past two years, he has successfully facilitated transactions with the FDIC, national and regional banks, national builders, investors seeking sound investment opportunities, and companies that are downsizing and parting with multiple locations.
Before joining CBRE, Mr. Palmiter’s experience included the management and disposition of bank-owned, non-performing real estate assets in the Minneapolis, MN and St. Louis, MO areas. He has also managed portfolio-owned, real estate for the FDIC. More recently, he held positions as VP of Acquisition and Development for both regional and national builders. These positions established many professional connections with both the regulatory entities and private companies, which is vital to the successful disposition of distressed properties.
Professional Affiliations / Accreditations
- Sensible Land Use Coalition
- Twin Cities Builder’s Association
- Developers Council of the Twin Cities
- Minnesota Commercial Association of Real Estate (MNCAR)
- Minnesota Real Estate Broker
- Masters of Science in Building Design & Construction from Kansas State College
Partial Transaction List
||Former Jaguar Dealership on 2.44 acres; redevelopment project into apartment complex above Whole Foods store
||90 single-family lots in Dancing Waters
||81 acres platted for 149 single-family lots
||Various - Metro
||Listed and sold portions of 10 land assets in the former Rottlund Homes portfolio
|Aggregate Industries and Hearthstone Financial
||Maple Grove, MN
||Facilitated deal between 2 property owners and City approvals for new concept plan of 206 units on 32 acres in High Grove
||CBRE assisted Paragon outlets to locate a site for 440,000 SF upscale outlet mall. 29 acre redevelopment site at Highway 77 and Highway 13
||St. Louis Park, MN
||Sold former Chili’s and Olive Garden sites in the prestigious Shoppes at West End commercial area. 3.55 acres for potential redevelopment project
||121 acre site near Krey Lake for future single-family lots
- Alerus Financial
- Assured Financial
- Bank of America/US Trust
- Bremer Bank
- Chrysler LLC
- Citizens Bank
- DR Horton
- Duke Realty
- Ford Motor Co.
- Individual Land Owners
- K. Hovnanian
- Klein Bank
- Kraft Foods North America, Inc.
- Lakeland Financial
- Lyman Lumber
- M&I Bank
- Mattamy Homes
- Meritex Enterprises
- Minnwest Bank
- Pulte Homes
- Ryan Companies
- Shelard Group
- SPENSA Development
- Trimont Asset Mgmt.
- US Bank Trust