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Realty equity firm acquires townhome complex

Posted: May 12, 2013 2:00 a.m.
Updated: May 12, 2013 2:00 a.m.
 

A division of The Resmark Companies has acquired a 157-unit rental townhome community in Santa Clarita, a spokesman for the company said Friday.

Resmark Apartment Living acquired the interests of its former joint venture partner Archstone, a leading apartment investment and operations company.

In April 2012, Archstone unveiled its plans to build the development in response to low rental inventory in the market. The company said at the time the first rental units would be ready this spring.

The development in Santa Clarita was a first for Archstone, said Rick Lamprecht, executive vice president of investments for the West Region last year when the company first broke ground.

The first move-ins are expected in mid-May, said a spokesman for Resmark.

The leasing office for The Townhomes at Lost Canyon just opened April 29, Resmark said.

“We founded Resmark Apartment Living in 2010 and have been steadily growing our investments in high quality, well-located multifamily communities,” said Rob Goodman, chairman and CEO, The Resmark Companies.

The apartment market in Southern California has helped lead the real estate recovery with properties close to business centers, Goodman said.

Developed on nearly 12.5 acres at the corner of Lost Canyon Road and Via Princessa, the townhome rental project is next to the prestigious Fair Oaks Ranch master planned community, offers easy access to Interstate 5 and Highway 14, and is close to the Via Princessa Metrolink Station.

Those transportation options connect residents with business centers in the SCV, San Fernando Valley and Los Angeles, the company said.

The Santa Clarita Valley itself is a thriving job center with film production, high-tech and biomedical companies among the major employers, a spokesman said. The Townhomes at Lost Canyon is close to many shopping, dining and entertainment options including the nearby Golden Valley Plaza shopping center, as well as Santa Clarita’s multitude of parks and recreation areas.

Each townhome has three bedrooms with two baths, and a two-car garage offering direct home access. The community includes amenities such as a pool, business and fitness centers, dog park and more.

“Santa Clarita is a desirable community with strong schools, which makes it particularly attractive to young professionals with families,” said Ziv Cohen, chief operating officer, Resmark Apartment Living.

The firm has retained Dallas-based Lincoln Property Company to manage the community.

Resmark is national private equity firm and a joint partner in numerous apartment communities in select markets in the Western U.S.

 

 

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