E&S Ring Management Corporation Adds Downtown Novato Community to Portfolio

E&S Ring Will Assume Property Management Responsibility for Matteson's 124-Unit, Mixed-Use Property in Downtown Novato

NOVATO, CA--(Marketwire - May 8, 2012) - E&S Ring Management Corporation of Culver City, Calif., has announced the addition of Millworks Novato in Novato, Calif. to its management portfolio. As of April 19, 2012, E&S Ring assumed managerial duties over the property, which consists of 124 flats and townhomes, as well as a 38,000-square-foot Whole Foods store in historic Old Town Novato, about 30 miles north of San Francisco. The property is currently owned by Matteson Companies of Redwood City, Calif., which has a strategic alliance with E&S Ring.

"We're delighted to further expand our relationship with Matteson with this outstanding acquisition," said Dana David, vice president of property operations for E&S Ring. "With nearly 98 percent occupancy, Millworks Novato already has a strong following, due in part to its environmentally sustainable and pedestrian-friendly status. The community fits right into our plans to offer a diverse portfolio across the West that allows people to live well."

Residents at Millworks Novato have the option of one-bedroom, two-bedroom and two-bedroom-plus-den flats or two-bedroom townhomes, ranging from 817 to 1,918 square feet. Upgraded finishes inside the units include granite slab kitchens, marble baths, Bosch Appliances and Kohler Fixtures. Community amenities include controlled access, elevator, fitness room and living rooftop gardens with sweeping views of the North Bay's hillside landscape.

Millworks Novato joins E&S Ring's 12 other communities throughout Northern California, including La Vina, Mill Springs Park, Parkwood Place, Plaza De La Vista, Pleasanton Glen, Pleasanton Place, The Vineyards, Valley Plaza Villages, Palm Valley - Palma Sorrento, Palm Valley - Santa Palmia, Palm Valley - Village of Marineo and Palm Valley - Villa Veneto.

For a complete list of E&S Ring communities, log onto http://esring.com/communities. For more information on Millworks Novato, call (855) 631-9866 or log onto http://www.millworksnovato.com.

About E&S Ring
With over 50 years in the multifamily industry, E&S Ring has been providing high quality service, dependable results and excellence in management since 1959. E&S Ring's multifamily communities are concentrated in Southern California, with a strong presence in Northern California. In 2011, the organization expanded to Oregon, Nevada and Washington through a partnership with Matteson, bringing their total management portfolio to over 11,000 apartment units in four Western states and 800 boat slips in the Marina del Rey harbor area adjacent to several of its properties. The company has performed $55 million in renovations at three communities in the past five years. For more information, visit www.esring.com.