Resmark’s Union Place Finds Strong Rental Demand

Resmark’s Union Place Finds Strong Rental Demand

PLACENTIA, CA - Resmark Apartment Living, a division of The Resmark Companies, a full-service real estate investment advisor, announced that it has already leased 45 percent of the first 80 apartment residences at Union Place since opening in mid-March. Union Place, a 125-residence community located at 1500 Cherry Street near S. Van Buren St. in Placentia, offers spacious, two- and three-bedroom residences close to schools and a host of amenities.

“There is strong demand for, yet limited supply of three-bedroom rentals in Placentia, as families are drawn to the city’s highly-regarded school district, parks and recreation facilities and easy access to the region’s job centers,” said Patty Bartlett, Senior Vice President, Investments at Resmark Apartment Living. “Union Place also brings a brand new community to the market, providing quality rental residences tucked away in a mature residential neighborhood. The exceptional pace of leasing at Union Place underscores the appeal of the property.”

Union Place’s two- and three-bedroom homes average 1,243 square feet and each includes a one-car garage, with select units offering direct garage access. Each residence offers premier finishes throughout including granite countertops in the kitchen and bathrooms, stainless steel appliances, wood-texture flooring and private laundry rooms equipped with a full-size washer and dryer – a rare and attractive feature in apartment living.

The community’s three-story buildings are set around broad, landscaped open spaces with paved pathways so residents can easily stroll to the large private pool, whirlpool spa and gas barbecue and dining area, interspersed with grassy areas, a children’s play area, and 24-hour fitness center.

“Union Place was built to a condominium standard in both the design and finish of the individual residences and in the common areas and on-site amenities. Further enhancing its appeal, it is the only new apartment community built in Placentia in the last 10 years,” Bartlett added.

Construction of the third phase of Union Place, comprised of 45 units in three buildings and the community’s fitness center, is expected to be complete with homes ready for occupancy in Fall 2012. Pre-leasing for this final phase is now underway.

Resmark Apartment Living also recently completed and owns The Avenue, a 180-residence apartment project in Hollywood recognized as the area’s premier luxury rental destination. The company, which launched in 2010, is a joint venture partner in numerous apartment communities in select markets in the Western U.S., including cities throughout California, Arizona and Washington.

Source: Resmark / #Multifamily #Apartments

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