As a cycle matures, developers, owners, and managers adjust their strategies in order to realize the best returns on their investments. It’s a sink-or-swim environment.
Four industry professionals, with companies unique in reach and target markets, addressed their current strategies during the first afternoon of the Multifamily Executive Conference, touching on a multitude of operational issues that play a big part in their bottom lines, like social media strategy, revenue management, and acquisition and rehab.
Mark Fogelman, CEO, Fogelman Management Group; Ken Veltri, senior vice president, asset management, AMLI; Doug Root, co-founder and managing partner, Blackfin Real Estate Investors; and Andrew Kadish, CEO, CAPREIT, shared their thoughts and experiences regarding NOI growth in recent years during a lively discussion.
On the social media side, Veltri, though he’s not a fan of Facebook, Twitter, or Instagram personally, said they’re important tools for AMLI, which manages about 24,000 units nationally. For Root, who co-launched Blackfin over the summer, building a social media brand is one of his primary focuses (on top of a few dozen others).
Since many major markets have been crowded with cranes the past few years and continue to pump out luxury apartments, Kadish spoke of CAPREIT's foray into smaller markets in Illinois and Alabama.
Fogelman added that there are opportunities to be made in cities with small populations; it’s just a matter of doing your homework.