With C class properties selling for cap rates equivalent to B and A class properties, a number of operators are exchanging into A class. These properties are easier to hold for the long-term because they don’t have the same looming cap-ex to deal with over the next several years.
Today’s guest, Keith Wasserman, Co-Founder of Gelt Inc. in Southern California, started out with heavier value-add projects in Bakersfield, then Phoenix, plus other Western markets. More recently, he’s been trading up to newer vintage properties for longer-term holds.
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