MBK Rental Living President Ken McCarren Shares Insights on Multifamily Real Estate Development

Ken McCarren, President of MBK Rental Living, brings over 30 years of experience in the multifamily real estate industry to his role, where he oversees the acquisition, development, operations, and disposition of all MBK communities. With a portfolio that spans across the western United States, McCarren's leadership has been pivotal in expanding MBK Rental Living's footprint, including the development of over 4,500 apartment homes across 14 communities in California and two in Colorado.

What sets MBK Rental Living apart, according to McCarren, is the company's commitment to building not just apartment homes, but communities. This vision is realized through the creation of resident gathering spaces and communal areas designed to foster a sense of belonging among residents. Features such as kitchen islands, open floorplans, and amenities like fire pits, BBQ areas, and dog parks are integral to MBK's developments.

Under McCarren's tenure, MBK Rental Living has not only expanded its geographical reach but also its business model, forming joint ventures with industry giants such as Hanover Company, Hines, Quarterra, and Trammell Crow Residential. These partnerships have enhanced MBK's product offerings, enabling the development of Class A communities throughout the Western US.

Identifying locations for new communities involves deep market research and forward-looking trends, with MBK often leading the way into emerging markets. The company's success in the Central Coast of California, for example, highlights its ability to recognize and capitalize on diamonds in the rough.

MBK Rental Living's approach to fulfilling the needs and lifestyles of residents goes beyond physical spaces, incorporating activities and events that enrich residents' lives. From group yoga classes to holiday celebrations, these initiatives are designed to create a true sense of community.

Despite the challenges posed by inflation in construction costs and regulatory environments, MBK Rental Living navigates these headwinds through strategic planning and the support of its parent company, Mitsui and Co. The company's commitment to environmentally and socially responsible development is evident in its With Our World® program, which integrates solar panels, EV charging stations, and smart thermostats into its communities.

McCarren's advice to those entering the multifamily real estate industry emphasizes the importance of mentorship and passion. Having benefited from the guidance of industry legends, McCarren underscores the value of learning from experienced mentors and being genuinely interested in creating homes where individuals and families can flourish.

MBK Rental Living's achievements under McCarren's leadership reflect a deep commitment to innovation, community building, and sustainability in the multifamily real estate sector. For more information on MBK Rental Living's developments and initiatives, visit https://www.mbkrentalliving.com.