LOS ANGELES—Chicago-based value-add investor the Laramar Group has been very active lately in the Los Angeles market. The firm recently purchased a 32-unit multifamily property in Koreatown, marking its 20^th acquisition in the L.A. market in the past two years, and completed its first Los Angeles disposition with the sale of a 44-unit apartment building in North Hollywood. We've heard from other value-add investors recently that well-located distressed assets can be hard to find in this market, so we sat down with Matt Levy, VP of acquisitions at the Laramar Group, to get the inside scoop on the firm's investment strategy, how it is staying competitive to win all these deals and the L.A. markets where it is finding the best opportunities. Here is what he tells us in this exclusive interview:

GlobeSt.com: Tell me about your investment strategy and about your investment goals for the year.

Matt Levy: There is a growing demand from renters for housing options in core locations that provide immediate proximities to jobs, transportation and vibrant restaurant and retail opportunities. The Laramar Group is focused on providing best-in-class product in these established, core locations and ranging from class-A to class-C.

After successfully acquiring more than 30 smaller, infill multifamily properties, for at a total capitalized value of $180 million in Chicago through 2014, Laramar renewed its national focus around this product type. Location is the primary driver for Laramar's investment strategy, targeting desirable buildings in established neighborhoods in and around 8 to 10 key metros, including Los Angeles, San Francisco, Seattle, Minneapolis, Chicago, Boston, the greater Washington DC area, and Miami. As such, neighborhood is the primary amenity at our properties.

GlobeSt.com: With the abundant capital in the market and high investor demand, how is your firm staying competitive and winning deals?

Levy: With more than 30,000 owned and managed apartments from coast-to-coast, The Laramar Group is uniquely positioned as having a local focus and local knowledge in the 20 MSAs where we operate. Laramar can leverage its experience, scale and infrastructure at the local level with the execution of a national firm.

GlobeSt.com: You have recently picked up a 32-unit asset in the Koreatown neighborhood. What attracted you to that market?

Levy: First and foremost, Koreatown is equidistance between Hollywood and downtown Los Angeles, two of the primary job centers in Los Angeles. Coupled with proximity to public transit and an easy walk to urban retail opportunities, Koreatown is exemplary of neighborhoods where we are focused on growing our critical mass and presence. Laramar is investing and managing where the action is.

GlobeSt.com: What other L.A. markets are you looking at for investment opportunities?

Levy: Throughout the L.A. market, we are targeting neighborhoods consistent with the core combination of easily accessible transit, jobs and walkability exemplified by Koreatown, Hollywood, Silver Lake, Echo Park, Mid-Wilshire/Miracle Mile, North Hollywood, Studio City and Sherman Oaks.

GlobeSt.com: As a value-add investor, has it been difficult for you to find distressed assets to renovate in this market? How do you find these properties, and what characteristics do you look for when identifying an investment opportunity?

Levy: Whether it's L.A. or Chicago, our portfolio has grown exponentially in the last 24-month period. We have developed a strong reputation for our ability to perform and ultimately provide best-in-class services with a variety of product types from high-rise urban to suburban garden-style in 20 major markets. The multifamily space is incredibly vibrant, but our reputation has in turn led to additional opportunities to work with a variety of sellers and intermediaries. We recognize opportunity, and through the repositioning assets in our portfolio, our team is transforming buildings, blocks and neighborhoods.