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The Apartment Association of Greater L.A. says no. The organization takes an official stand against the proposed legislation to repeal Costa Hawkins saying that it will halt development and city growth.
In the first quarter, the Orange County vacancy rate increased 80 basis points, and with more companies' rightsizing, the vacancy rate is likely to continue to increase.
Thomas O'Hern is currently the company's SVP, CFO and Treasurer and will remain in those roles until he assumes the mantle of CEO at the start of the year.