New investment activity during the quarter was focused on the funding of our four properties that are under construction. We expect first delivered homes in June for our Lawrence Station asset in Sunnyvale. We’ve a balance-to-fund of approximately $275 million on our four communities under construction. Two of the four cycle, we fully delivered by mid 2013 and Wilshire La Brea and Solstice will start delivering in the fourth quarter of 2013 and into early 2014.While there is talk of supply becoming a challenge nationally, our West Coast markets were still issuing from it at a slower pace than historical norm. The current monthly average of permits issued in our markets is about 2,500 per month, which is lower than average for the last 15 year of 4,200 per month. Given both the level of competition and opportunities for acquisition, our investment activity is focused on our development pipeline.
BRE Properties' CEO Discusses Q1 2012 Results - Earnings Call Transcript
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
Every recommendation goes through 3 layers of intense scrutinyquantitative, fundamental and technical analysisto maximize profit potential and minimize risk.
Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.