JF3766: How Luxury Rooftop Amenities Drive 20¢/SF Higher Rents & Why Deep-Pocketed Developers Keep Building ft. Brandon Reed

The Best Ever CRE Show

Best Ever CRE

Realestatepodcast, Entrepreneurship, Business, Realestate, Investing, Realestateinvesting, Realestateinvestingpodcast

4.8 • 983 Ratings

🗓️ 26 December 2024

⏱️ 29 minutes

🔗️ Recording | iTunes | RSS

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Summary

In this episode of The Best Ever CRE Show, Slocomb Reed interviews Brandon Reed, founder and chief visionary officer of Loft Six Four, a boutique firm specializing in rooftop amenities for large apartment complexes. Brandon shares insights from his landscape architecture background and how his firm has evolved to focus on creating immersive outdoor experiences that drive property value. Despite the current narrative of development slowdown, Brandon reveals they handle 30-50 projects annually, though this represents a 50% drop from peak levels. He notes that development continues in markets like Dallas and Utah, primarily driven by well-capitalized developers with deep pockets or family offices who can weather high interest rates. Brandon explains that properly designed amenities can generate an additional 10-20 cents per square foot per month in rent and help maintain high occupancy rates. The conversation explores trends in amenity design, with a focus on creating hospitality-like experiences that foster community and justify premium rents. Brandon emphasizes that while individual amenities like pools and fire pits are important, the key is creating cohesive outdoor living spaces that become talking points and drive resident retention. Sponsors: Altra Running Sunrise Capital Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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1:23.7	to get started today. Quick disclaimer, the views and opinions expressed in this podcast are provided for informational
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1:39.1	For more information, go to best ever show.com.
1:42.2	People really value that space.
1:43.9	If you're going to be in an apartment,
	...

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