WELCOME TO OUR SPRING 2023 NEWSLETTER.
A Message from the CEO
The first quarter of 2023 has been very fast paced. Not only has time seemed to fly by but we have seen many significant events in our local and national economy. We have experienced the official end of the pandemic, interest rate increases to levels not seen in many years, significant layoffs in local technology companies, and failure of one our local premier banks. Yet even with all this going on, our local economy continues to show strength of employment. In this newsletter we share insights into the commercial and multifamily markets in which we operate. Overall, from an operations standpoint our properties continue to do well but are not without challenges.
In my experience our industry tends to see cycles of change, we are seeing a new cycle in many areas of our business. Our experience throughout multiple cycles prepares us to deal with the challenges that arise. I believe that while there are changing conditions for our properties, both operationally and with investment performance, that the underlying fundamentals remain positive in the long run. I hope you join me in that optimism.
Ron Granville, CEO, CPM®
The 2023 Broker Panel Outlook sponsored by BOMA Silicon Valley took place at the Westin San Jose in early March. This year’s event was in marked contrast to a year ago, when we had come off another robust year of economic growth and expansion and the outlook for the remainder of 2022 looked pretty good, until it didn’t go exactly as expected. In fact, it was a year of correction and this year’s panel partially reflected the change in sentiment.
Announcing Michelle Widjaja as New Vice President of Marketing & Education
We are very pleased to announce that Michelle Widjaja has joined Woodmont Real Estate Services as our new Vice President of Marketing & Education. Concurrently, for those readers that know or interacted with our former VP of Marketing & Education, Caroline Anzur, we express our good wishes to her in her new endeavor as a personal coach and marketing consultant. Caroline was with us for more than a decade and was a valuable professional on the executive team during a solid period of growth for our company.
Just as appreciative as we are for Caroline’s excellent years of service, we are equally grateful to have found Michelle, who, with her background and experience in our industry, is an excellent fit for our operation and the services we deliver to clients and other stakeholders.
Michelle has worked in the property management industry for over 20 years. In her role as Woodmont’s VP of Marketing & Education, Michelle oversees a team that provides strategic direction for the marketing and training efforts of each of Woodmont’s managed assets. Prior to Woodmont, Michelle spent 5 years as Director of Marketing for Bell Partners, an apartment investment and management company operating multifamily communities throughout the United States. Her career also includes 11 years with Prometheus Real Estate Group’s marketing division, overseeing leasing and marketing needs for the company’s Northern California portfolio and experience as an on-site property manager for a 721-unit community in San Francisco. She earned a BA degree in Communication from UC Davis. As a marketing executive, Michelle’s proven leadership skills allow her to successfully mentor and empower cross-functional teams to meet challenging business goals.