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Value-Add Multifamily Properties Outside Los Angeles Downtown Attract Investors

December 04, 2018 / Bendix Anderson

The apartment business has split the city of Los Angles into two very different parts. “It’s a tale of two cities,” says Steve Basham, a senior market analyst in the San Diego office of research firm the CoStar Group. In Downtown Los Angeles, apartment developers are opening thousands of new luxury units in high-rise towers. Property managers now have to offer steep concessions to attract potential renters. “It seems like there is a new tower opening every month,” says Basham.