LOS ANGELES—The multifamily sector is still going strong and rent growth is accelerating, but developers should still exercise caution, said speakers at last week’s RealShare Los Angeles‘ “Multifamily Momentum” panel. Overzealous development in a high-land-price market could lead to developers not achieving the returns they had hoped for, the speakers said.

Moderator Mike Rovner, president of Mike Rovner Construction Inc., said there’s lots of demand, but not much supply in the multifamily market. He had the panelists present case studies of multifamily properties they had developed, which ranged from redeveloping a property to make it feel like new to renovating according to workforce rents to creating mixed-use projects.

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