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Playa Vista Sees Major Rent Growth

LOS ANGELES—Playa Vista has seen tremendous rent growth, according to David Nagel, president and CEO of Decron Properties, who tells us that rent growth is one of the reasons his firm is so bullish on the multifamily market. To find out more, we sat down with Nagel for an exclusive interview, where we chatted about:

-       Multifamily market trends

-       What tenants are looking for in multifamily properties

-       The firm’s interest in value-add play

Nagel also shared his wisdom on the multifamily panel at the recent RealShare L.A.conference, where he, along with his fellow panelists, talked about the rising land costs, the strict entitlement process and the rising supply in the L.A. market. “If we can provide the L.A. Fitnessexperience, we can raise rents and achieve a healthy ROI of 15%,” he said on the panel. “With that, if you’re raising your rent by 25%, you’re turning over your entire tenant roster; maybe 10% will stay, but the rest are all new.”

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Decron Properties Acquires 349-Unit Adagio at South Coast Apartment Community for $96 Million  |  August 2, 2016
Decron Properties acquired Adagio at South Coast, a 349-unit multifamily apartment community in Santa Ana, CA for $96 million. The property was sold by Prime Residential. Read More

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