CFLane Looks To Grow
Only eight months after Cocke-Finklestein purchased The Lane Company, the mega multifamily firm is on the hunt for more product in 2014. (No need to waste time settling in.) We broke bread with CFLane's Dan Haefner last week to chat about the industry and where the merged companies—including the multifamily management services subsidiary CFLane—are headed from here. CFLane's certainly come a long way, having grown units under management from 26,000 to 40,000. Most recently, it's been tapped by Variant Commercial Real Estate to manage a 14-property portfolio that the real estate investment firm picked up just last year in two separate transactions.
The other way CFLane will grow is through Cocke-Finkelstein's acquisitions (more recently with 17th Street Lofts, above) and development (such as it's doing at Collier Lofts). Dan says Cocke-Finkelstein is also seeking value-add plays or other opportunistic acquisitions. “We're not overly aggressive. We underwrite conservatively. We like [areas] that have constraints, good economic indicators, and employment growth.”
