IRVINE, CA-The multifamily real estate management arm of Western National Group has continued the expansion of its third-party management portfolio with the leasing and management assignment for the 318-unit Somerset Apartments in Temecula. Western National Property Management won the assignment, its 31st new third-party multifamily contract this year, from the new owner of the apartment complex, Griffin Partners.
Craig Rooney, regional VP of business development for Western National Property Management, notes that Griffin Partners plans "an aggressive repositioning" of the Somerset complex. Griffin's plan includes both interior and exterior upgrades at the property, which is located in a Temecula corridor that has grown into a center of multifamily housing over the past few years, Rooney explains.
The Somerset contract increases the number of multifamily units under management by Western National to nearly 28,000. The complex, at 42211 Stonewood Rd., features 159 two-bedroom, one-bath units of 816 sf and 159 two-bedroom, two-bath units of 866 sf. Amenities include private balconies or patios, a swimming pool, a spa, a fitness center, full covered parking and a playground.
Western National Property Management is one of three entities of Western National Group, a 43-year-old multifamily acquisition, development, construction and property management firm that is the second-largest owner of multifamily housing in Orange County after the Irvine Co. The other two entities are Western National Realty Advisors, which is the development and acquisition arm of the firm, and Western National Construction.
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