As we seek to deploy our current pool of capital at a time of generally high prices, we are running up against the issue of replacement cost. Here’s the problem: As a repositioner, you don’t really want to be in the position of spending more to buy and renovate a building than it would cost
Fund 3 investors know we’re in the process of adding a second story with two units to a duplex we bought a few months ago. This is a pretty straight-forward operation: There is plenty of room on the lot and the zoning allows for more than two additional units. This should be the kind of project
When you have a building with a “slab” (as opposed to a “raised”) foundation. With a raised foundation, there is a crawl-space under the bottom floor through which pipes run. This makes re-piping the building pretty easy. With a slab foundation, the building sits right on a thick concrete slab in which the original plumbing is
Thought you guys would appreciate some before / after pics of our most recently-completed project, now in lease-up. If you know anyone looking for a great 1/1 or 3/1 in Highland Park, have them email franklin [at] adaptiverealty.com.
Today we learned that the mayor over-ruled his own planning commissioners to approve a high-rise building in K-Town. Here’s the money-quote from the LA Times explaining the opposition to the project: “Such a huge project would be ‘wildly inappropriate’ for the location, said Commissioner Maria Cabildo, an affordable housing developer. “I’m probably one of the biggest advocates