Executive Feedback
What are your plans for positioning your portfolio for the second half of 2005?
A:“Our strategic goals are to selectively de-age and grow our almost-13,000-unit portfolio by selling to condominium converters or selling longer-term-held properties to tax credit re-developers. Wasatch Properties will continue to redeploy proceeds to acquire good quality, late-’90s or newer product in growing areas of the western United States.” —Bradley D. Mishler, COO, Wasatch Premier Communities
A:“We believe that cap rates should stay at today’s compressed levels at least through December, meaning that we will continue selling assets. On the development side, we are scheduled to bring another six to eight projects online over the next 12 months.” —Brian Dinerstein, principal, The Dinerstein Cos.
A:“Our family low-income tax credit properties have long waiting lists, while our senior properties are starting to experience some vacancies. We plan to meet with housing agencies [and] support organizations and to increase our advertising in local communities.” —Percival Vaz, president, AMCAL