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BisNow: Getting a Piece of the Multifamily Action

Real Estate Bisnow (Orange County)

Getting a Piece of the Multifamily Action

Brandywine Homes, previously a single-family home specialist, is now leasing its first multifamily property, the 34-unit Cobblestone insouth Garden Grove. VP Dave Barisc tells us that attracting the right population for a particular product is completely different between the two property types. “Regardless of demographic differences in income, job type, or age, renters and buyers have very different outlooks on housing, and therefore look for housing in very different ways,” he says. Renters, for example, tend to think shorter term than home buyers, and as a developer “you have to make a lot of adjustmentsalong the way.”