LOS ANGELES, CA - Los Angeles-based property management company, Leonardo Management, Inc., has taken over operations at the iconic El Royale Apartments located in the historic Hancock Park residential area of Los Angeles.
Architect William Douglas Lee (also constructed the famous Chateau Marmont on Sunset Boulevard) built the El Royale in 1927 as L.A.’s answer to New York’s storied Dakota Building. Situated across the street from the prestigious Wilshire Country Club in historic Hancock Park, a magnificent, tree-lined residential area of Los Angeles famous for its stately mansions (which are home to legends in the entertainment industry. The property, built with reinforced concrete, finished in stucco with terra-cotta decoration, and accented by classical Spanish and French details, was designed as the ideal home for the rich and famous of Hollywood.
"We're extremely excited to be a part of such an iconic property and landmark", said Daniel Cunningham, president of Leonardo Management. "This marks our fifth takeover in two months--we’re finding that our aggressive oversight-driven platform really resonates with real estate owners looking to eliminate missed opportunities on site."
The property recently changed ownership through a sale in 4Q of 2012 and the new owner has grandiose plans to update/modernize the property's luxurious amentities and unit interiors while maintaining its historic and iconic brand and image.
Leonardo Management, Inc. is a highly progressive commercial property management firm servicing multifamily, office, retail, and industrial properties & portfolios throughout California, Arizona, Nevada, and New Mexico. The company utilizes a proprietary software application, Leonardo Intelligent Property Management Systems, which drives Leonardo’s unmatched property oversight capability. This approach, coupled with the company’s award-winning leasing teams and its in-depth and robust investor reporting packages allows Leonardo to fully understand and focus on the fundamentals of property operations.
For more information, please visit www.leonardomgmt.com or visit Leonardo on Twitter and/or keep pace at our blog at LeoMgmtNews.