New Standard Equities CEO Edward Ring spoke at the Marcus & Millichap / IPA Multifamily Forum: California on the panel, “Emerging Submarkets & Value Add Opportunities,” where he discussed the direction that the multifamily market in California is heading and NSE’s competitive advantage.
“NSE is vertically integrated, but we’re a tenth of the size of some of our competition, which I think gives us an advantage. We’re small, and that gives us near-perfect information at all times,” commented Ring. “I have a team in the field that can operate from 5 to 8,000 units. We can move quickly and we can move things fast. We can react in real time and control our expenses.”
The panel’s moderator pointed out the hesitancy some investors may hold about investing in California real estate, a topic that permeated the conference. When addressing the future of California’s multifamily market, Ring added, “The fundamentals remain strong in California. Real wages, real wage growth, full employment. Really, there is nothing to stop this economy barring another black swan event. So, I think values will still be up.”
Held on Tuesday, June 7, 2022 at the Hilton Los Angeles Airport Hotel, the forum brought together hundreds of stakeholders in the multifamily industry for in-person learning, idea sharing, and deal making.
Learn more about the conference here.
View the recording here.