Capturing the West Coast Market
The Multifamily West Division’s mission is to create value for its residents, team members and investors by developing high-quality apartment homes in dynamic markets on the west coast, extending from San Diego, CA, to Seattle, WA, and select inland markets.
Led by Tom Messervy, the Multifamily West Division is guided by our firm’s principles of excellence, integrity, and social responsibility. Well-capitalized and privately-held, we have successfully penetrated the west coast market, completing development of over $110 million of new apartment projects in 2016 alone. With over $200 million in the pipeline for the next 24 months, we expect our strong growth trajectory to continue.
Creating Community with Seamless Execution
As experts in the multifamily development process, we deliver solid, seamless execution with every community we attach to the JDA brand. To ensure the best possible outcome in execution of our development plans and fulfillment of all our commitments, we remain responsive and empowered to make investment decisions quickly, providing “certainty of execution” for land owners and stakeholders.
Evaluating Our Acquisitions
- Targets: Value-add, existing apartment product. Attractive opportunities will require substantial capital investment and repositioning. Existing apartment projects which include surplus land providing expansion opportunities are ideal.
- Markets: Primary target geographies include major west coast MSAs such as San Francisco, Los Angeles, San Diego, Seattle, Portland, and Denver. JDA Multifamily West will acquire assets in primary, secondary, and tertiary submarkets with attractive supply and demand characteristics.
- Size: Optimal assets will consist of 150-300 units. JDA Multifamily West will evaluate assets ranging from 100-500 units.
Determining Our Developments
- Targets: Fee-simple land (unentitled, partially entitled, or fully entitled). Land approved for apartment development is preferred, but mixed-use projects are also attractive.
- Markets: Primary target geographies include major west coast MSAs such as San Francisco, Los Angeles, San Diego, Seattle, Portland, and Denver. JDA West will acquire sites in primary, secondary, and tertiary submarkets with attractive supply and demand characteristics.
- Size: Optimal sites will be capable of supporting 150-300 units. JDA West will evaluate sites with opportunities for development ranging from 100-500 units.