Below is a snapshot from our 2023 Q2 Market Update with some commentary about the industry’s current state from the Centennial management team. Months on Market From our activity it’s not all bad news. Across all product types, including office, we are seeing transactional activity. In the last few months, we have seen multiple offers …
Fifield Companies, a well-known development firm headquartered in Chicago, has set its sights on the rapidly growing Inland Empire region. Recently, the firm acquired a 10-acre site in Riverside and is currently working to obtain entitlements for a 281-unit apartment complex. According to a statement released by Land Advisors Organization, the brokerage that represented both …
SB-567: Major renovations are one of the few reasons outlined in the 2019 Tenant Protection Act (AB 1482) that landlords in California can use to evict tenants who haven’t done anything wrong. The landmark legislation was designed to curb the impacts of rising rents and keep tenants in their homes. But housing advocates said the …
Do you know the hottest trends hitting the real estate market? As local specialists who spend our time viewing properties in every neighborhood of Southern California, we have collected the common trends that we are noticing as owners revamp and give their buildings a 2023 Facelift. Multifamily Commercial
Originally published on therealdeal.com | A Sacramento lawmaker and former Los Angeles union boss seeks to further limit rent increases to help prevent tenants from becoming homeless. State Sen. María Elena Durazo, D-Los Angeles, announced a measure that would strengthen a 2019 bill capping rent hikes at 10 percent and preventing landlords from evicting tenants …
Published on caanet.org on March 6, 2023 | Mallory Homewood The California Apartment Association has published materials to help landlords abide by a new “just cause” for eviction ordinance in the city of Los Angeles. The new “just cause” ordinance applies to most units in the city that are not already regulated by the city’s …
The client had two 4-plexes in Riverside County that he had owned for over 30 years. The properties had significant deferred maintenance and rents were 40-50% below market. They were underleveraged and completely out of depreciation. Their blended return on equity was about 2%. The management company that the owner had been using neglected to …
“You have to go see the real estate.” Technological advancement is changing the management and evaluation of commercial real estate. The pictures in OM’s get prettier and prettier. Drone footage can give you a bird’s eye view of the surroundings, and if you are lucky, it’s not just still shots, but you are going to …
Are you aware of the legislative changes happening in your backyard? It’s hard to keep up with it all, especially in today’s post-COVID environment. It feels like every day there is a new proposed change announced that will directly affect California owners. We have suggestions on how to stay in the know and how to …
