Our Team

  • Filter By:

{{employee.name}}

{{employee.job_title}}

{{employee.office.city}}, {{employee.office.state}}

{{employee.office.name}}

{{employee.office.address_01}}

{{employee.office.address_02}}

{{employee.office.city}}, {{employee.office.state}} {{employee.office.zip}}

{{employee.employee_email}}

View All Westlake Village Employees

Los Angeles Q2 Multifamily Market Report: Vacancy Tightens for Fourth Straight Quarter

Highlights:

Los Angeles Multifamily market report snapshot for Q2 2022
  • The Los Angeles multifamily market performed well in the first six months of 2022. Occupancy reached its highest level in more than three years, which helped fuel rapid rent increases. The investment market has remained active and competitive to this point, despite rising interest rates. Additionally, per-unit pricing has trended higher thus far in 2022.
  • Area vacancy tightened for its fourth consecutive period, dropping 30 basis points in the second quarter to 3.6 percent. Year over year, the rate improved by 90 basis points.
  • Asking rents continued to rise at an accelerating rate in recent months. During the second quarter, apartment rents rose 5.2 percent to $2,352 per month. Year over year, local rents are up 17.7 percent.
  • The investment market has been in a strong position through the first half of this year. The median price through the second quarter is $350,000 per unit, up 20 percent from the 2021 figure. Cap rates have remained low, averaging around 3.8 percent in the last three months.

Read the report

Show More

Orange County Q2 Multifamily Market Insights: Rent Growth Accelerates as Vacancy Ticks Lower

Highlights:

Orange County Multifamily market report snapshot for Q2 2022
  • Multifamily operating conditions improved in Orange County during the second quarter. Local vacancy tightened and asking rents spiked. The pace of apartment completions has accelerated to this point in 2022, following a slowdown in deliveries last year.
  • The vacancy rate improved during the second quarter, dropping 30 basis points in the last three months to 3.1 percent. Year over year, vacancy has tightened by 70 basis points.
  • Asking rents jumped in recent months, rising 5.6 percent in the second quarter to $2,466 per month. Apartment rents have spiked 18.8 percent from one year ago.
  • The multifamily investment market made gains during the second quarter. The median sales price of properties that traded in the past three months reached $416,700 per unit; year to date, the median sales price is $369,300 per unit. Cap rates held fairly steady averaging around 4 percent.

Read the report

Show More

Los Angeles Q1 Multifamily Market Insights: Rents surge higher during the first quarter

Highlights:

Los Angeles Multifamily market report snapshot for Q1 2022
  • Continued vacancy tightening and a recovering employment market fueled rent gains in Los Angeles County at the start of 2022. Rent growth in the first quarter outpaced neighboring Southern California markets and supported continued investment activity and rising per-unit prices.
  • The vacancy rate in Los Angeles dipped 10 basis points in the first quarter to 3.9 percent; this is the lowest area vacancy rate since 2019. Year over year, the rate declined by 60 basis points.
  • Asking rents climbed in the first quarter, rising 4.7 percent to $2,236 per month. The pace of rent growth is accelerating; during the past 12 months, rents advanced 13.6 percent.
  • The multifamily investment market remained active in the first quarter. The median sales price to this point in 2022 reached $341,400 per unit, up 17.5 percent from the median price in 2021. Cap rates averaged around 3.7 percent at the start of the year.

Read the report

Show More

Orange County Multifamily Market Insights: Job growth gaining momentum, vacancy remains low to start 2022

Highlights:

Orange County Multifamily market report snapshot for Q1 2022
  • Stability prevailed in the Orange County multifamily market at the outset to 2022. The vacancy rate remained unchanged, and rents inched higher at a modest pace. While the construction pipeline includes a number of projects, deliveries and absorption were closely aligned to start the year.
  • Vacancy held steady in the first quarter at 3.4 percent; this marked the third consecutive quarter at this level. Year over year, the rate dropped 20 basis points.
  • Year over year, asking rents advanced 18.3 percent to $2,335 per month. Nearly all of the increase occurred at the end of 2021, and gains were minimal during the first quarter.
  • The investment market was dominated by the sale of older, Class C buildings at the start of 2022. Prices dipped in response to the mix of properties changing hands; the median sales price ended the first quarter at approximately $351,300 per unit. Cap rates trended higher, averaging around 4 percent.

Read the report

Show More

Greater Los Angeles Q4 Multifamily Market Insights: Vacancy Tightens as Labor Market Rebounds

Highlights:

Los Angeles Multifamily market report snapshot for Q4 2021
  • Multifamily operating conditions improved in Los Angeles during the fourth quarter. Rents continued to climb in recent months and vacancy tightened. Continued recovery in the local employment market should support renter demand in the coming quarters.
  • Vacancy in Los Angeles dipped 10 basis points during the fourth quarter, building upon a 40 basis point compression during the prior quarter. The rate declined 50 basis points during 2021, reaching 4 percent.
  • Asking rents pushed higher during the final quarter, following a significant spike in the third quarter. Year over year, rents advanced 8.2 percent, ending 2021 at $2,136 per month.
  • Multifamily sales velocity accelerated in the last few months of the year. The median price in 2021 reached approximately $290,400 per unit, up 5 percent from the median price in 2020. Cap rates averaged 3.7 percent in the fourth quarter.

Read the report

Show More
Load more news