The Saywitz Company Expands into the Desert
- Sep 22, 2015
The Saywitz Company and Barry Saywitz Properties expanded its portfolio with the acquisition of three apartment buildings located in Coachella Valley, Calif. The assets sold for a combined $6.5 million.
In La Quinta, the company bought The La Quinta Courtyard, a 26-unit apartment building at Eisenhower Avenue and Calle Tampico. The property, which is situated near the La Quinta Resort and PGA West Golf Resort, underwent a complete renovation and reopened in March 2015.
The Saywitz Company also acquired the Bermuda Dunes Courtyard at 79700 Ave. 42 in Bermuda Dunes, Calif. The property, a two-bedroom, two-bath condo style apartment complex, underwent a complete renovation in May. Residents here have easy access to the Bermuda Dunes Country Club and Bermuda Dunes Airport.
The Palm Springs Courtyard Apartment Homes is the third property included in the portfolio acquisition. The 23-unit apartment building is located at 685 E. Vista Chino in Palm Springs near the Riviera Spa and Resort and Downtown Palm Springs. Renovations here will be completed in the next two months.
Barry Saywitz Properties is now planning to strengthen its presence in the Inland Empire region with additional acquisitions in the desert communities.
The Saywitz Company, which ranks as one of the largest privately held commercial real estate brokerage firms in Southern California, is based in Newport Beach and has an additional office in San Diego. Founded more than 40 years ago, the firm exclusively represents tenants, companies, and users of commercial real estate at an international, national and local level.