SAN FRANCISCO-Multifamily owners and brokers are expecting solidrevenue growth in most western markets by 2011, with some corecoastal markets experiencing double-digit rent growth, a panel ofexperts concluded at PCBC’s eighth annual Multifamily Trends eventin downtown San Francisco.
However, owners and operators have been forced to adjust theiroperations to achieve these projected long-term revenue gains.“From an operational standpoint, we have had to adjust to themarketplace and we worked hard for every dollar we earned. We alsoworked harder on keeping our existing residents in place,” RonGranville, CEO of Woodmont Real Estate Services based in Belmont,CA, said during the closing panel at the Moscone Center onWednesday.
“We sat down with most of our lenders and said: ‘Times aretough. We have to reduce our operating expenses,’” he noted.Woodmont’s goal was to reduce operating expenses by 10%.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
