We snapped this yesterday at our first-ever SoCal Property Management Summit in Beverly Hills.Our all-star panel, including reps from Hines, Equity Office, and Health Care REIT, say theyre putting emphasis on reducing operating costs and preserving asset value. In West Coast markets--where entertainment, tech, and media rule--property managers have to be a lot more flexible, like putting dog clauses in leases for pooch-friendly tenants. Our panelists also view the debt market as an issue: the spate of maturities over the next 18 months goes directly to their ability to manage cash flows.

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