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Bob Flannery

CHICAGO—Locally based CA Residential, the multifamily arm of global real estate investment firm CA Ventures, has launched an ambitious 5-year plan that will triple its portfolio to $3.2 billion by 2022. GlobeSt.com caught up with Bob Flannery, president of CA Residential, to hear more about what the company has in store for 2019 and beyond.

GlobeSt.com: 2019 begins your 5-year plan, with plans to double your portfolio from the current $1 billion. Can you walk us through the cliff-notes version of what’s ahead for CA Residential?

Bob Flannery: 2019 is certainly a breakout year for us.

We are going to close $1 billion worth of new ground-up development in 2019.,so it’s a mission-critical year. What we have been doing for the last 18 to 24 months is really putting everything in place to execute that plan. We’ve filled the pipeline with the right type of product and so 2019 is an unusually large year and we’re very excited about it. And we’re really ready to roll everything out this year, so we’re in an awesome position. Going forward, we expect the annual pipeline to be $500 million a year, roughly split 50/50 between urban/downtown projects and a suburban strategy based on specific types of job growth and affordability.

GlobeSt.com: What would you say are the key elements that helped form the 5-year plan?

Bob Flannery: A couple of key components to our 5-year plan and hitting that $3.2 billion is a combination of us solidifying and being successful with our institutional partnerships, while being disciplined about the demographic data and embracing technology. You just can’t do things the way you used to do them. We are committed to constantly re-thinking how we are executing, whether that means co-living, or whether that means corporate apartments, or whether that means smaller units, or different amenities, or new technology or apps. We think that it’s a combination of strong institutional partnerships, reputation and track record, extremely disciplined demographic data points and, finally, innovation. For us, it is easy because it is really the DNA of CA Ventures.

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