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REAL ESTATE MERCHANT BANKING
October 13, 2013
‘Reversion’ of Units Rented Out in Downturn Is Fresh Sign of Housing Market’s Strength
By Conor Dougherty
Many condominium developers who rode out the real-estate downturn by renting out their units are reverting to for-sale housing, in another sign of the market’s continued recovery over the past year.
Take Amir Haber, a Los Angeles developer who opened his Universal Lofts project at precisely the wrong moment in late 2008,
August 7, 2013
Universal Lofts in Studio City is one of the apartment complexes to turn to the once popular practice of converting to condos. The trend is far below peak in 2007.
Apartment building owners in Los Angeles and throughout California are once again converting to condos, but not at the torrid pace of 2007, when condo conversion peaked before the Great Recession.
The work-live units at Universal Lofts in Studio City, across the 101 Freeway from Universal Studios,