Sean Burton is CEO of Cityview, a vertically integrated real estate investment management and development firm that specializes in developing, acquiring and operating opportunistic and value-add multifamily projects in gateway markets across the Western U.S. Cityview has invested in more than 130 projects and was named the decade’s largest multifamily developer in LA by Los Angeles Business Journal.
On this episode, Sean and Chris discuss:
➡️ land entitling
➡️ an overview of the Los Angeles market
➡️ what makes a great multifamily developer and operator
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Additional Resources
👉Cityview
👉Sean on LinkedIn
Timestamps
(00:03:57) Sean's journey into Real estate
(00:05:11) Learnings from working in the White House
(00:07:26) An Overview of Cityview
(00:10:25) What matters to you when considering a market or an asset to acquire?
(00:12:02) Are you finding sites that are already entitled or do you need to entitle before closing?
(00:14:48) Is it taking longer to entitle land these days?
(00:16:05) The desire to build more housing in LA, the homeless crisis, and an overview of the LA market
(00:21:38) Where in LA are you looking for sites?
(00:22:51) Do you see any similarities between today’s market and the GFC?
(00:25:11) Have building costs stabilized?
(00:26:56) What would it take for a development deal to make sense right now?
(00:31:22) What makes a good tour when showing equity a project?
(00:32:47) Is Office to Residential even realistic?
(00:35:06) What makes a great MF developer and operator?
(00:36:51) Is there any from an amenities standpoint that you’re focusing on?
(00:39:21) Is there any technology you’re implementing?
(00:41:55) How are you positioning yourself for the next few years?
(00:45:47) How do you capitalize deals?
(00:48:15) Thoughts on the First Republic Bank takeover
➡️ RE Cost Seg: https://bit.ly/3oC7JcY
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💡 Follow Chris on LinkedIn: www.linkedin.com/in/chrispowersjr/
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The FORT Podcast with Chris Powers is a place where you can find meaningful conversations about entrepreneurship, real estate, investing, and more.
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