IN THIS LATEST EDITION OF OUR INFLUENCERS SERIES, WE TAKE A LOOK AT THE MULTIFAMILY ASSET CLASS
Multifamily might seem to be an easy asset class in which to make your mark. After all, it is characterized by low vacancy rates, strong and unrelenting demand and, in many markets, a steady but not overly saturated supply. But don’t be deceived, this category comes with its challenges and they take a real pro to navigate. On the following pages we look at the individuals, groups and companies that have made a difference in the space. They have forged new strategies, executed on well-laid plans, entered new markets and introduced novel concepts. As the multifamily market continues to evolve, watch these influencers to see what they do—they will surely be leading the way.
Cityview targets complex multifamily housing opportunities in urban markets that may be overlooked by some due to transaction and development challenges such as entitlement or environmental issues, political hurdles or community relations. Founded in 2003, Cityview is a multifamily investment management and development firm dedicated to redefining urban living. Focused on developing multifamily and mixed-use projects in high-growth markets in the Western US, Cityview’s targeted investment strategy and integrated structure enables a unique, holistic approach to uncovering the ideal urban way of life. Led by a professional team with expertise in real estate, development, operations and finance, investments have generated more than $4 billion in urban investment across more than 100 projects to date. Currently, it has $2 billion in assets under management.
Over the years, Cityview has expertly pivoted to meet the needs of the marketplace. During the 2008-2009 recession, for example, Cityview shifted its focus from for-sale housing to multifamily—forecasting a need for the product type as residential was taking a big hit. To further bolster its niche in the multifamily marketplace, Cityview moved to a vertically integrated model—offering investment management and development under one roof. This continues to pay dividends for the company. By handling the investment, development, asset management and property management of its multifamily properties, Cityview creates efficiencies and maintains complete control over the end-product—benefiting investors, residents and communities alike.
Presently, Cityview is under construction on multiple high-profile Los Angeles multifamily developments. Earlier this year, the company was honored with Smart Growth America’s LOCUS Leadership Award for Company of the Year. The national award honors companies with a clear history of public leadership in supporting projects that transform communities and create lasting value for citizens who live there. Specifically, Cityview was selected because of its dedication to developing transit-oriented communities with high walk scores, inclusion of affordability elements in neighborhood design, “double bottom line” investment criteria requirement and focus on environmental sustainability and LEED standards.