Nearly a year after Cocke-Finklestein purchased The Lane Co's management division, and the mega multifamily company is on the hunt for more product in the Class A world.
We broke bread with CFLane's Dan Haefner last week to chat about the industry and where the merged companies head from here. It's certainly come a long way, having grown units under management from 26k to 40k. Most recently, it's been tapped by Variant Commercial Real Estate to manage its huge portfolio that the private equity fund picked up just last year from the FDIC.
The other way CFLane will grow is through acquisition (most recently with 17th Street Lofts, above) and redevelopment (such as it's doing at Collier Lofts). Dan says the firm is seeking value-add plays, even in the Class A world where aggressive pricing has pushed cap rates to historic lows. “We're not overly aggressive. We underwrite conservatively. We like [areas] that have constraints, good economic indicators and employment growth.”
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