Exclusive Multifamily Rent Growth Surprises Industry
LOS ANGELES-The 95% occupancy rate that the local multifamily market experienced last year didn't change year over year, but a 7% bump in rent growth was a surprise, says Javier Rivera, vice president, multifamily, at Jones Lang LaSalle.
Rivera also discusses:
- The economic problems that still face Los Angeles County.
- Why Jones Lang LaSalle is bullish about the Los Angeles multifamily sector.
- The outlook for new apartment development in the area.