With homeownership still declining, the fundamentals for apartments are soaring above other sectors, and the West is best—home to more than half of the nation's Top 10 multifamily markets. That's why we're thrilled to host the top players in this thriving market at Bisnow's national multifamily conference tomorrow, an all-day event starting at 8:15am at the JW Marriott at LA LIVE.
Among our panelists will be Berkadia senior managing director Dean Zander (here whispering to Warren Buffett at a client appreciation event in Omaha), who tells us that while SoCal has long been a favored market nationally for multifamily investors, with LA ranked second only to New York in terms of new job creation, he’s experiencing heightened demand in an already competitive environment. In order to remain competitive nowadays, he says, investors are finding they often need to offer non-contingent money from day one, especially if it's a newer asset. Of the six deals Dean and his team closed since June, four of them fit this trend.