LOS ANGELES—There is no doubt that Los Angeles has seen a huge influx of foreign capital, and while much of it is from Asia, one of our neighbors to the north is making a particular splash in the market. Vancouver-based Onni Group has made several purchases here in the last six months alone, and recently called Los Angeles its US market of choice in a GlobeSt.com interview. To find out more about the firm's interest in the Los Angeles market and its plans to continue to invest here, we sat down with Daniel Bell, an acquisitions executive at Onni Group, for an exclusive interview.
GlobeSt.com: What has attracted you to the LA market?
We entered the LA market in 2010 as part of an overall strategy to grow our business in the US. From our perspective, the financial turmoil of 2008-2009 created an unprecedented opportunity for us to invest in the US real estate market. In addition, the Canadian dollar was trading around par to the US dollar at the time. We identified certain cities as ones that we thought would recover quickly and LA was one of the ones at the top of the list.
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