Westwood, Ca (PRWEB) March 27, 2012
Keller Williams Westside Realty is hosting the third in a series of 10 Greater Los Angeles Commercial Real Estate Forum events, with this event focused on the Los Angeles apartment market. The Forum is designed to be a professional networking event and venue for investors and commercial real estate agents to share ideas and opportunities.
At 75 one expects to slow down, but in commercial real estate terms it is a green light to beat the competition to a market that shows little restraint in large multi-family transactions. It is hard to believe there is an economic meltdown long in effect, solely based on CAP rates - an economic indicator of how a property performs. This is not the case in the LA-based multi-family market where higher volume properties, especially 75 units and more, whisper their way in and out of the deal room.
“It’s difficult to open a newspaper or article without numerous references to clear signs the Great Recession is out of ICU and in recovery. The starving audience is anxious to read the end of this economic hunger strike but readers are challenged with sifting through strong and weak references in search of a solid meal,” says the event’s host, Linda Kaye.
If 2011 tight mortgage underwriting frustrated the completion of many transactions, then who is getting more than their fair share of these prized properties? Find out who is buying them and how the deals get done. At the Los Angeles Commercial Real Estate Forum learn more about how the playing field has changed and who is getting the deals.
“Volume and velocity may be down,” says panelist Jeffrey Peldon, Keller Williams Operating Principal, “but not CAP rates or fundamentals.” He would know. Thirty years ago, as a corporate attorney for a New York utility company, Peldon lead New York bankers in fire walking exercises long before it became corporate must-go-face-your-fear-retreats. “Fire walking breaks down all barriers,” says Peldon, smiling, “but fundamentals don’t change.” Peldon, a leader in the multifamily market, is a well-respected authority on the subject.
Joined on the panel of advisors is Michael Balson. After starting in the ICM mailroom, Balson relentlessly worked his way up to eventually produce Gene Hackman and Danny Glover in a major motion picture. Later, switching his focus to real estate his careers in property and asset management lead to mom and pop deals. Persistence would eventually lead to multiple big deals including a recent $40 million dollar transaction. How the big players acquire a portfolio or Class A asset are subjects that will be covered in this informative session.
The event takes place March 29th at 4:00-5:30 pm at Gaylord’s, 50 N La Cienega Blvd, Los Angeles. A complimentary reception and paid parking will be provided by sponsors, including Citibank, Surety Financial, Advanced Group Property Inspection, Power Property Group, LA Citiwide Escrow and Costar Group.