West

More to the point, why do they even need to try?

A 12-property 455-unit multifamily portfolio with 13 ground-floor retail suites just received $113.5 million via a six-year (including extension options) floating-rate loan through an affiliate of Walton Street Capital.

The firm launches a new value-add multifamily fund with a $150 million buying capacity, but will expand into new West Coast markets and larger assets.

It is almost assured that Proposition 10 will pass, and the state of California will become a free for all with different, complex and in many jurisdictions, nonsensical rent control policies. The biggest risk for apartment owners and developers is risk of the unknown.

The company will change its name to Office Properties Income Trust.

At 56 assets, this is the company's largest US warehouse portfolio deal to date.