On Track
In the San Francisco Bay area, it often takes commuters an hour and a half to go from the tolls on the east side of the bay across the Bay Bridge into the city – a commute of less than five miles. In the Washington area, a rush-hour trip from Alexandria, Va., across the 14th Street Bridge and into the city – less than 10 miles – sometimes takes an hour. Read more
Courting Capital
You call and leave a message. Days pass, but the phone doesn't ring. So you call again, hoping someone will pick up on the other end. Sound like someone trying to get a date? Yes, but it's the same routine that multifamily executives go through when they court institutional capital. Read more
Partner in Profit
Efficient. Bare-bones. Cost-conscious. These words perhaps best describe the California State Teachers' Retirement System's approach to investing in real estate in general and multifamily properties in particular. After all, portfolio manager Jim Hurley is the only full-time staff member dedicated to the $1.5 billion multifamily fund. He runs a virtual corporation, relying on a team of operators, consultants, researchers, and auditors. Read more