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Playa Vista Sees Major Rent Growth  |  Apr 20, 2015

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. Fitness experience, 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.”