June 14, 2017
Monday Properties’ Phil Cyburt will be part of a Connect Los Angeles panel titled, Gauging the Climate: Buy, Build, Sell or Hold. A mix of the most active investors and advisors will discuss their strategies to seek out their next deals, the capital markets climate and how they’re remaining successful in an ever-evolving economy.
He shares insights into Los Angeles’ investment and development sector prior to the June 21st conference in our latest 3 CRE Q&A.
Q: Why is Monday Properties interested in investing on the West Coast?
A: We see the West Coast markets as having relatively better values than the rest of the country, given where we are in the cycle. Monday Properties is focusing on economic drivers that are key factors in creating value for commercial and residential real estate. The markets we are investing in are home to companies that are major innovators and leaders. We have and continue to witness this in Seattle, San Francisco and the greater Southern California market. We are focused on these areas because of the economic growth that is created and the sustainable elements that are realized demographically. Lastly, this is where the majority of the capital today is concentrated for new opportunities.
Q: How are you identifying and looking to capitalize on unique investment opportunities?
A: We are building off a great existing platform and track record Monday Properties has with our New York and D.C. Metro offices on the East Coast. We hired two senior Southern California acquisitions professionals to build on our national relationships, and interface with the sellers and brokers in the marketplace. Having smart and experienced real estate individuals that can differentiate investment opportunities is key as we partner and deploy capital wisely. We look for unique buildings that are differentiated by size, value and location within the market. In addition to core markets, we look for select opportunities within those markets that need some sort of value creation that will reposition the asset better in the established market. The key here is understanding value and moving quickly before others react.
Q: What types of properties or markets are you focused on and why?
A: Monday Properties focuses on office and multifamily along with hospitality. We have a long history in these asset classes, and believe in our operating values to seek opportunities. Each asset class is in various periods in the cycle and complexities within any given market. We are investing building by building rather than just broadly buying in a market. Office tenants will pay significantly more for a location and product type so that the company can capture and retain the best human capital. We truly believe we are a facilitator of an environment that affords companies to operate more efficiently and successfully. We partner with companies to help offer a better quality of life for tenants, and we look to get paid for doing that function. We believe the same goes for multifamily products as well.
For comments, questions or concerns, please contact Dennis Kaiser