WSO,
I found out today that my fiancée may be relocated to Irvine in January and I want to get to networking sooner than later so I'm not caught flat footed. I have been to LA exactly once in my life, so I am looking for any local insight into top LA or LA-area development shops - reputation, deal flow, etc. Who are the major players? Who is big and well known but definitely should be avoided? Who is lean and exciting and probably looking to grow?
I currently work for an east coast apartment developer as a DM, although I've been thinking about branching out into different product types for a while now. I have a little bit of office experience in my background, but I would definitely have to learn the ropes if I make that kind of move. On the multi side, I'm a bit concerned about deal flow in California with all of the rent control and NIMBYism I hear about, but I'm not sure if that's mainly horror stories or not.
Essentially, I need to educate myself on LA real estate quickly, so any help would be appreciated.
Thanks!
Hines, Related, CIM Group, Trammell Crow Company, Mill Creek Residential REIT, and Greystar all come to mind off the top of my head.
Lots of smaller players who build pretty cool and amazing product out here too. If you want those people then PM me.
Awesome. Will do.
Irvine Company does cool stuff.
I remember reading somewhere, perhaps on WSO, that they have a very poor culture. I could be incorrect, but does that ring a bell?
Edit: it was WSO: https://www.wallstreetoasis.com/forums/anyone-know-what-the-culture-is-…
I am not familiar with their development team but have heard their culture is brutal. Donald Bren is known for being extremely specific about how he wants things done and the timeframe he expects quality work. This culture trickles down from that.
Smaller guys that crush: Carmel Partners, Hackman Capital Partners, Palisades Capital, Caruso, Jamison Services (steer clear, sketchy AF), Hudson Pacific, Cypress Equity Investments, California Landmark Group, MacFarlane Partners
Outside of Jamison, any insight into the culture at any of the above?
Malibu Equity and Investments
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While I don't know that I'd call Jamison Services "sketchy" they do seem to have a high employee turnover of fresh USC law grads. I've also heard that they have a "slum lord" kind of reputation..
I'm curious as to why you call them out?
I have heard long hours and high expectations but never sketchy. Although the slumlording seems to be an issue with a lot of firms especially in LA. There's a lot of anti-landlord sentiment here
Thanks, guys. Giving this a final bump. Really appreciate all of the guidance.
Not from the area so I'm not sure if the content is quality or not, but https://urbanize.la/</a">Urbanize LA always has projects listed/shown. Wouldn't be a bad move to find projects that interest you and contact the companies building them.
OC to LA commute is brutal, I'd look into OC companies if I were you.
Shit I didn't even think of that. I'm used to bad traffic / living where you work so that should have jumped out.
Greystar's OC development team recently had a bunch of turnover and new guys take the reins. I know as of a month ago they were looking for an associate on the development side. It might be worth reaching out to them direct. Dig through www.selectleaders.com or their site and I'm sure you can find the post.
I second this
C
Mind if I PM you as well? Really interested. Been looking for finding these family offices.
Bumping this for 2020. Obviously things have happened over the past 6 months that delayed these moves, but there is always tomorrow.
Any updates on the LA and/or OC markets would be appreciated, as would additional insights in any of the big time players there.
Thank you again to everyone who already answered. I've had some great conversations and met with a number of the companies provided here, but alas, COVID.
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