At this Friday’s 19th annual USD Burnham Moores Residential Outlook, I’ll be joining some key local experts discussing both recent and anticipated future changes in housing policy and development patterns in San Diego county including; rent control, transit oriented development, upzoning, NIMBYism, and other topics of interest within the multi-family sector.
Apartment investors should be aware of a rapid sea change washing over many West Coast communities. Over three decades of overwhelming political opposition to new development is being successfully challenged by a growing wave of support for new housing.
Is this accurate, that San Diego, generally considered a young city, is at the very top of a list of U.S. cities with the most rapidly aging rental housing? What’s the cause of this unexpected revelation? Is there finally a crack of light on the horizon for new housing?
Part 2 – Not All That Glitters Is Gold. Although quite an unusual transaction, the sale of the Luther View Apartments in Pacific Beach, CA offers multiple lessons for apartment investors. Adding value with a properly executed multi-party bidding process. The importance of selecting the right buyer. How broker-client brainstorming over tactical options added value.
Part 1 – “Well, I guess it’s a bummer to be you today!” The sale of the Luther View Apartments, while unique, provides multiple lessons for apartment investors about valuation and marketing strategies. Against the odds, the hard truth snatches success from the jaws of failure. Adding value through financial modelling.