Condo Development Is Back and Growing

BEVERLY HILLS, CA-Condos are back, industry experts say. As GlobeSt.com recently reported, during IMN’s Winter Forum on Opportunity and Private Investing in Laguna Beach, William Trefethen, managing partner with Parse Capital LLC, said as the economy continues to recover and jobs are added, a lot of product is being converted to condos.

ETCO Homes recently completed a set of 34 luxury condominiums here called 432 Oakhurst—the only new condo community coming to market right now in Beverly Hills and the first built in a long time—which Bob Etebar, co-founder, principal and COO calls the start of a new real estate trend toward condo development. With a near sellout of these condos to both domestic and international buyers, GlobeSt.com caught up with Etebar to discuss why condos are experiencing a resurgence and why foreign investors see this product type as a safe haven.