Chris Aiello is the Co-founder of Six Peak Capital, and a current board member. Mr. Aiello leads all Los Angeles Sourcing, Acquisitions, Underwriting, Capital Markets and Development for the firm. He is the former Chief Financial Officer and Head of Real Estate Acquisitions & Investments at Pan Brothers Associates, a New York City-based, real estate-focused, family office with over 40 years of investing and operating experience.
On this episode of the Mogul Insights podcast, Chris Aiello and Jilliene Helman discuss the state of co-living and expectations for a post-pandemic world. Co-living provides tenants with a turn-key flexible living solution and lower price points than alternative single living situations. Over the last decade, the cost of rental housing in urban environments has increased more than 50% squeezing renters where wage growth has not followed the same growth. In a city like Los Angeles that has been undersupplied for multiple decades, the compounding effect has created a housing crisis. Renters who earn less than $100,000 per year have a hard time finding good housing options to support their career and lifestyle. Co-living is a way to meet this demand by providing new housing at price points that are otherwise not possible with traditional layouts of studios and 1BR units.