WS1903 Successfully Converting Office Space to Multifamily | Highlights Kenny Wolfe

In this  highlight episode, we feature Kenny Wolfe, an experienced real estate investor, back to the show. Kenny provides an update on his business, which now has $715 million in assets under management. He discusses his ventures in multifamily, triple net funds, and office conversions. Kenny explains that while multifamily deals are currently scarce, the underlying metrics such as rents and occupancies remain strong. However, the challenge lies in managing debt and navigating interest rate fluctuations. 


He advises investors to focus on surviving until 2025 when interest rates are expected to decrease. Kenny also shares his experiences with triple net funds, highlighting the stability and high credit tenants involved. He emphasizes the importance of selecting the right tenants and managing property taxes and insurance. 


The conversation then shifts to office conversions, with Kenny explaining the process of transforming vacant office buildings into multifamily spaces. He discusses the challenges of plumbing and maximizing space within the existing floor plan. Kenny also mentions the benefits of historic office conversions, including grant money from the federal and state governments. He concludes by expressing his belief that the office conversion trend will continue as businesses assess their physical occupancy needs.

Click here to listen to the full episodes:

https://lifebridgecapital.com/2023/10/17/what-to-do-if-your-deals-are-struggling-kenny-wolfe/

https://lifebridgecapital.com/2023/10/18/how-to-convert-office-space-to-multifamily-kenny-wolfe/

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