The new properties in the Sares-Regis management portfolio range from new class-A, mixed-use and transit-oriented urban developments to mature garden-style communities. Three of the properties were developed by Sares-Regis, including two LEED-registered Southern California projects.
Michael Bissell, president of the Sares-Regis Group multifamily property management division, notes that the company has implemented a "rent optimizer program" that maximizes revenues in a way that is similar to sophisticated pricing models used by the hotel and airline industry.
"In a strong market, the program tells you how and when to push rents up faster. In a down market, you don't lose tenants and revenues as fast as your competitors, Bissell says.
The three apartment complexes among the division's new assignments that were developed in Southern California by SRG are the 820-unit Westgate in Pasadena, the 312-unit Crossing in Anaheim and the 258-unit Grove in Ontario. The Westgate and the Crossing are both transit-oriented developments that are being built to LEED standards.
The 12 recent management assignments also include a 192-unit lease up in San Francisco, a class A mid-rise and a class B garden community in the Denver area, as well as class A and B assets in the California cities of San Jose, Sherman Oaks, Corona and Moorpark.
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