Q: What would you be doing if you weren’t in the multifamily industry?
A: BRE was my first job 30 years ago, and I’m pretty sure that I would always be in real estate. But retail real estate has always been the most fun. Not because I like to shop, because I don’t like to shop. I love the challenge of trying to understand the retail business, how to capture revenue streams, and trying to get the appropriate tenant mix. It is so much more than just mastering the underlying fundamentals.
Q: What is your New Year’s resolution?
A: At BRE, we are planning to spend a lot of time at the enterprise level and are dedicating ourselves to getting better execution at operations.
About the Company
What: Multifamily REIT
Founded: 1970
Headquarters: San Francisco
Employees: 836
2007 revenue: Declined to state
Units owned: 22,041
Units in development: 3,131
Geographic coverage: California, with minor holdings in Arizona and Washington
About the Project
Project: The Stuart at Sierra Madre
Location: Pasadena, Calif.
Units: 188 one- and two-bedroom apartments
Rent: $1,775 to $3,365
Notable: On Los Angeles County Transit Gold Line; clubhouse is an historic preservation of Stuart Pharmaceutical, the birthplace of Mylanta