EisnerAmper Real Estate Practice Co-Chair Speaks to Gateway Cities as Location for Real Estate Investments Seeking Yield and Safety
Over 300 of the most influential owners, investors, developers, financiers and other private equity professionals came together at the 2015 EisnerAmper Real Estate Private Equity Summit West on April 23rd in San Francisco, California. This senior-level forum highlighted West Coast investment and created a strong platform to network face-to-face with leading LPs, GPs and other sources of private equity.
In addition to a day full of networking and knowledge, Bloomberg Radio hosted a live national broadcast from the Summit floor all day. These clips feature EisnerAmper Real Estate practice –co-lead, Ken Weissenberg, as he speaks to issues of Bay Area real estate development and investment opportunities, the impact of very high rents and upwards pressure on salaries, private equity-funded real estate growth areas in U.S. gateway cities, and the impact of foreign investment into real estate.
Ken Weissenberg, co-partner-in-charge of EisnerAmper’s Real Estate practice and
the host of the first EisnerAmper Private Equity Real Estate Summit West, speaks
to the status of the entire Bay Area as a mega-real estate investment location;
as well as how its attractiveness has made housing demand far outstrip supply.
Ken comments on the increasing role of foreign investment in real estate
investing in the Bay Area.
Ken speaks to the popularity of private equity in real estate, not just in the
Bay Area but throughout the “gateway” cities; and makes observations on
expectations of return on investment from PE investments and other sources of
Ken observes that the tech industry is comprised not just of multi-millionaires
who can afford the sky rocketing housing prices in SF, and that rising salaries
are putting real upward strain on those looking to live and work in SF.
Ken believes that the development of real estate in the areas outside of the
downtown core of SF, led by Oakland, will be the “next Brooklyn”.
Ken discusses the role of tax incentives to help start-ups in the Bay Area but
points out the reality that the tech industry, for instance, will always migrate
to this area.
Ken says that Private Equity is proving its value in real estate in markets all over the U.S.
and that we’re seeing real estate booms across the country in gateways like
LA, Houston, Seattle and others.