PMI Properties Taps E&S Ring Management to Manage Solace Property
LOS ANGELES, Oct. 13, 2020 (GLOBE NEWSWIRE) -- E&S Ring Management Corporation was awarded a new assignment by PMI Properties to manage its asset, Solace Apartment Homes, in the San Francisco Bay Area.
“Effective property management is in demand,” said Erik Alexander, president of E&S Ring Management. “With more than 60 years of experience as both owners and property managers, we have seen our share of challenging economic conditions and can help our clients navigate difficult times like we are in today. We possess an owner’s mentality with deep knowledge in property operations, renovation and acquisition. We use a customer-centric approach to provide added value to clients such as PMI.”
E&S Ring provides a unique combination of transparency and collaboration with clients, offering a cadre of professional services in operations, construction management, marketing, HR and information systems. E&S Ring employs a seasoned group of professionals dedicated to results and offers clients close and direct communications with its senior staff.
“Our goal in entrusting our Solace property with E&S Ring is that it will receive the level of attention that will ensure its prosperity,” said Scott Sternberg, president of PMI Properties. “The objective is to free us to focus on enhancing value of other existing assets and new acquisitions. To accomplish this, we need to feel comfortable that our premier property is leased and managed by a stellar team we can trust to keep it well-maintained, secure and profitable.”
Located in El Sobrante, CA, Solace Apartments has 194 units of luxury apartment homes and serves the East Bay, including Berkeley, Emeryville, Hercules, Oakland, Richmond and San Rafael. In 2018, PMI Properties renovated Solace’s building exteriors, leasing office, amenities and all apartment interiors to provide a premiere housing option in the community that is desired by today’s clientele.
In addition to managing Solace Apartments, E&S Ring also manages premium apartment assets for Kennedy Wilson and its own assets throughout California including apartments, office buildings and two marinas.
E&S Ring Management Corporation: 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.
PMI Property: For 30 years, PMI (pmiproperty.com) has invested in commercial and residential real estate. Headquartered in Beverly Hills, the company was the first to pioneer a new, creative suite in office buildings. Recently, PMI has increasingly purchased single-family homes and apartment buildings in Los Angeles and the Bay Area, targeting gentrified areas and locations ripe for creative renovations that appeal to Gen Y, knowledge workers and urbanites.
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