News & Events
In January 2018 we sat down with our Co-Founder and CEO, Gidi Cohen, who answered some questions about the plan and projections for 2018. If you missed that issue, you can read the original article here.
Gidi shared his projection that in 2018 the multifamily residential and commercial real estate industry would see a decrease in the number of transactions closed as Interest rates raise up. Since January 2018, interest rates have gone up between 0.50% – 1.00%, depending on lender and type of loan.
CGI planned the year to focus on our current portfolio, only adding a small number of new deals, and keeping the attention on delivering a superior product. Since January our new openings, like KODO and Villa Carlotta took the market by storm. Press continues to flood media outlets and monthly events attract Hollywood A-Listers.
Gidi also shared that he was most excited about playing defense this year. “I am most excited to turn inward to my team and to strengthen, practice and perfect our offense strategy. We’ve been acquiring a lot and have a very impressive and developed portfolio. It’s very important to get the teams, the systems and the assets all to peak performance in time for the next swing in the other direction,” Gidi shared. Since January, CGI has built outstanding property management, backed by one of the top-performing marketing teams in Los Angeles. We have added a decorated CFO/COO with over 20 years’ experience, as well as a Head of Construction who, since joining our team, is turning out work of the highest quality, ahead of schedule. We have also built out our Investors Relations team to facilitate continued transparency and ease of communications between investors and our project directors.
We are proud of this progress and so much more, and we are looking forward to a strong 2019.