The Warmington Group of Companies
Watch for our Special Commemorative Insert in the OCBJ
As part of our 90th Anniversary this year, Warmington will be featured in a special insert in the Orange County Business Journal on Monday, October 31st. According to the OCBJ, “Warmington has played a unique role in the development of Southern California and beyond. This special insert will chronicle their rich history.”
This is a unique opportunity for Warmington and we hope that you will be on the lookout for this commemorative piece and enjoy learning more about the Warmington group of companies road to becoming a 90-year-old full service real estate organization with roots that date back to 1926.
We understand that many of our associates and partners have played a role in helping to bring this special insert to fruition. For that we are thankful and recognize that we could not be the group we are today without the support of all of our colleagues, friends and clients. So thank you in advance!
Warmington Properties, Inc.
Just Closed: Cerca Student Housing in San Diego
Adding to our portfolio of luxury student housing communities, escrow has closed on an 82-bed student housing complex adjacent to San Diego State University. Previously operating as Campus Center, this new investment property will be rebranded as Cerca Student Housing. Cerca joins Zuma Student Housing, a 108-bed complex also in San Diego and built by Warmington Residential in 2014. As premier student housing options, Cerca and Zuma provide the “Life/Style/Luxury” that residents of private student housing anticipate.
The $5,000,000+ in equity was funded by Warmington’s Friends and Family Investors and debt was provided by Fannie Mae. Asset Campus Housing, which currently manages Zuma, is providing management services for Cerca.
The addition of Cerca is part of Warmington’s larger strategy to increase its holdings of both Student and traditional market-rate apartments in the San Diego metro. Cerca is Warmington’s third asset in the MSA and plans call for adding two to three more in the near future.
Other Multifamily news:
- The construction of 90 units at Martin Apartments in Las Vegas is nearly complete and leasing is going well.
- The first phase, consisting of half the total of 325 units, of construction is nearly complete at The Gallery Apartments in Las Vegas. Leasing is underway. Construction on the second phase is expected to start later this year.
- Solana Apartment Homes in Las Vegas started grading in December 2015 and now has the Clubhouse and Fitness Center buildings and first units
(of a total of 204) framed up.
- By 2018, our current communities will provide over 1500 apartment units in Las Vegas and 1100 in California and are actively looking to build and acquire additional properties in these markets. Additionally, we are engaged in an analysis of the multi-family markets in Portland and Denver. Within existing and potential new markets, our focus remains ensuring stable investment income through the acquisition of high quality multi-tenant properties in stable markets.
Trellis Earns Best Single Family Detached Home Award
Trellis in Rancho Mission Viejo’s village of Esencia has been named an Award of Merit winner in two categories in one of the homebuilding industry's most prestigious competitions, The Golden Nugget Awards. The Gold Nugget competition honors architectural design and planning excellence and draws entries from throughout the United States and internationally.
Trellis was an Award of Merit recipient in two categories:
- Single Family Detached Home - Under 2,000 sq. ft.
- Residential Housing Project of the Year - Detached Product
Notably, Trellis was Esencia's only Project of the Year Award of Merit recipient.
Awards were presented during the 53rd annual Gold Nugget Awards ceremony in San Francisco, California in June. The event was a grand affair held during PCBC®, the largest real estate development conference and trade show in the west coast region.