REMM Group Had a Torrid SoCal Summer
- Aug 25, 2015
In spite of California’s extreme drought, most real estate companies are experiencing a fruitful time in terms of their businesses in the greater Los Angeles area. The REMM Group recently announced that starting with mid-June, the company expanded its portfolio considerably, by adding nine new multifamily communities. The properties are diverse, including three senior communities, one HUD property and some luxury units. The largest of the properties totals 221 residential units.
The addition of the 864 multifamily units to REMM Group’s holdings brings the company’s management portfolio to more than 4,000 units. The new properties added by the company this summer are the following:
- Almansor Village Apartment Homes – 403 Almansor Ave. in Alhambra.
- Arrow Village Apartments – 18615 E. Arrow Highway in Covina.
- Casa Grande Senior Apartment Homes – 801 Magnolia Ave. in Corona.
- Casa Pacifica Senior Apartment Homes – 2201 S. Pacific Ave in Santa Ana.
- Cypress Park Apartment Homes – 9591 Graham St. in Cypress.
- Park San Dimas Senior Apartment Homes – 265 W Foothill Blvd. in San Dimas.
- South Olive Apartment Homes – 241 S Olive in Alhambra.
- The Palms Apartment Homes – 4829 W. 120th St. in Hawthorne.
- Villa Boutique Apartment Homes – 1700 South Araby Drive in Palm Springs.
According to company CEO Sara D’Elia, some of the properties will require renovations in order to reach current market standards. Ms. D’Elia noted that that process is “in line with our strategy to manage each asset as well as the rental income.”