Sares-Regis Wins Contracts on 3,600 Units

IRVINE, CA-The multifamily property management division of development and investment firm Sares-Regis Group has added 12 apartment properties totaling 3,649 units to its portfolio. With these new assignments, the division now manages‭ ‬59‭ ‬properties totaling‭ ‬16,850‭ ‬units in California,‭ ‬Colorado and Arizona.

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.