Description

In this episode of Commercial Real Estate Talk with Steve and Arnie, our hosts interview Chris Tourtellotte, Managing Director with LaTerra Development, one of the most prolific multifamily developers in the Greater LA area. Of late, LaTerra has been expanding into other geographic areas, as well as investing in self-storage properties. In this very lively, fun and informative conversation, Chris discusses: How he got into the real estate development business; the first major development deal he got done, as well as the deal that was the most challenging; how they find new projects or deals; how they analyze projects and decide to greenlight a deal; how do they finance deals and where does the equity come from; when and why does LaTerra exit deals; details on exciting projects they are working on now including Intro in Burbank; how they used AB1287 to increase density in Marina del Rey; his appreciation for architecture, design, amenities and branding with the Charlie projects as prime examples; the major challenges today developing in Los Angeles and how that has shifted their strategy; where are rental rates and where are they heading; the states or regions they want to expand into; thoughts on the self-storage sector and their plans for growth; tech tools LaTerra uses; how they support charities and a bit about his personal interests. Thank you, Chris, for the great conversation and for sharing all this valuable information with our audience!! It is another "must watch" show if you are in the commercial real estate investment world. Commercial Real Estate Talk is Sponsored by: CHASE PARTNERS; COMMERCIAL REAL ESTATE INSPECTORS; and FIDELITY MORTGAGE LENDERS. To be a part of Commercial Real Estate Talk, please email Steve Bloom at sbloom@rentv.com or Arnie Garfinkel at arnie@allstargroup.com.