LOS ANGELES, Oct. 07, 2021 (GLOBE NEWSWIRE) -- E&S Ring Management Corporation announced today the acquisition of Sendero Huntington Beach for $70,010,000 from Sack Properties, with Berkadia as the broker and Walker & Dunlop as the lender.
Located at 8945 Riverbend Dr., the 152-unit Sendero Huntington Beach is located near Bella Terra, South Coast Plaza and Beach Blvd and prized for its resort-style amenities.
“We are pleased to add Sendero to our portfolio of quality properties,” said Mark Wagner, president of E&S Ring. “Sendero fits with our trend of owning and managing garden-coastal-style luxury apartment complexes. Moreover, our 60 years of experience as both owners and property managers will give Sendero the stability and management needed to keep it an enjoyable living community for its residents – and a desirable feature of the broader South Bay community.”
E&S Ring also recently sold its 90-unit Parkwood Apartments in Lancaster, CA for $18.5 million to MF Asset Management.
In addition to its strategic acquisition approach and managing its own properties, E&S Ring also provides property management services to other property owners, including operations, construction management, marketing, HR and information systems.
E&S Ring Management Corporation https://www.esring.com/: Founded in 1959 by the Ring Brothers, Ellis and Selden Ring are credited with birthing the modern garden style apartment community on the west coast. Their innovation carried over to property operations where E&S Ring now manages 7,000 apartment homes in California and is actively involved in more than $200M of renovation projects and the development of 365 units in Kent, Washington.
Media Contact: Cassie York, (310) 337-5416
