LOS ANGELES— “Next Gen” real estate professionals are more attuned to the wants and needs of today's users of real estate because they're part of the generation seeking change,” Chad Christensen, SVP and partner at Washington Holdings, tells GlobeSt.com. Christensen recently made Real Estate Forum's Fifty Under 40 list of real estate professionals in the industry.

When discussing industry trends, Christensen explains that creative office is one of the prevailing trends led by the millennial generation. “The creative office phenomenon that is occurring today in some markets is a result of modern users ultimately wanting a more comfortable and warm office environment, with close proximity to amenities such as restaurants and/or interesting retail options,” he explains. “Those users—who ultimately sign leases—want their space to reflect their lifestyle choices.”

He notes, though, that the millennial generation is driving trends in all real estate sectors from hotel and retail to multifamily. For that reason, millennial professionals are better in tune with those wants and needs. “Next-gen real estate leaders can recognize these wants and needs because they're in it; they're part of the generation and they're connected and updated via technology,” Christensen says. “Being 'in the flow' is critical.”

Christensen has used his next-gen knowledge during his time at Washington Holdings to invest in office and hotel properties. Some of his notable achievements include a $15 million D-note investment on a 14-property office portfolio in Denver, a $65 million mezzanine loan for a 30-property portfolio of limited service hotels and the disposition of the St. Regis Monarch Beach Resort in Dana Point, CA.