Cityview Expands East Coast Footprint with New York Office, Targets High-Potential Markets

In a recent announcement, Cityview, a Los Angeles-based real estate investment manager, has expanded its reach into the Eastern United States by opening an office in New York City, led by Christoph Donner, the firm's global head of capital development and strategy and former CEO of PIMCO Prime Real Estate LLC. This strategic move marks a significant expansion of Cityview's investment and capital-raising strategy beyond its existing Western and Southwestern U.S. markets into the East Coast. Cityview plans to pursue acquisition opportunities in Boston, Orlando, Florida, and Atlanta, with future targets including Raleigh, North Carolina, and Charleston, South Carolina. To determine where to expand, the firm partnered with RCLCO Real Estate Consulting to identify high-potential markets for multifamily investment based on historical performance, current fundamentals, and forward-looking economic forecasts based on 55 key data points. According to Cityview's CEO Sean Burton, "Cityview has historically focused on supply-constrained markets on the West Coast, and in recent years we’ve diversified our strategy to include more demand-driven centers across the Southwestern U.S., including Dallas and Phoenix. Now, we’re expanding nationally with a strategic move into East Coast markets that show strong fundamentals and are poised for future growth."

1. Boston: The city's high level of professional employment and education creates a stable foundation for demand. New deliveries in the metro are low relative to demand and projected future supply.
2. Orlando: The market has strong positive exposure to demand and relatively small negative exposure to supply. Strong employment and population growth, along with a business-friendly environment, help drive its strong performance.
3. Atlanta: The city's employment and population growth have driven demand higher than many of its peers. In addition, the metro ranked first in average annual return over the past decade and in the top five for average yearly sales volume.

Cityview has been active in its current investment markets as well. In the first quarter of this year, it acquired four assets and recapitalized one property. Last December, the firm bought Candela, a 112-unit value-add in the Hollywood Hills and Franklin Village neighborhood of Los Angeles for $36 million from Raintree Partners.

Burton told Multifamily Dive in January that "well-located multifamily assets are poised to become even more desirable over the next five years as new multifamily construction starts have ground to a halt, making 2025 a prime opportunity to acquire existing product at today’s basis."

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