Josh Grossman Josh Grossman

While some investors are leaving the California market, others are arriving. The affordability crisis is attracting domestic capital sources to take advantage of the market fundamentals and demand for moderately priced and affordable apartment units. LEM Capital, a Philadelphia-based investor, is an active class-B apartment investor in Sacramento, Orange County and Los Angeles—and it continues to be bullish on the market. In fact, the firm has purchased $326.5 million in real estate throughout California. We sat down with Josh Grossman, a SVP of acquisitions at LEM Capital, to talk about the firm’s California strategy, how the affordability crisis has influenced its strategy and why now is still a good time to be a net buyer in California.