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7/26/24
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Metonic Real Estate Solutions has awarded Western National Property Management (WNPM) the assignment to manage Millennium Apartments, a 330-unit luxury multifamily apartment community in Palm Desert, CA.
Ideally situated amidst a thriving cultural and recreational scene, Millennium Apartments is located at located at 74699 Technology Dri,close to Acrisure Arena, which offers year-round concerts and sporting events; Joshua Tree National Park; art galleries; numerous fine dining establishments and local eateries; and a variety of entertainment and shopping venues to provide access to the ultimate desert lifestyle.
The community features studio, one-, two- and three-bedroom apartment homes with contemporary finishes and smart-home technology, private patios, stainless-steel appliance suites, quartz countertops, plush carpeting in bedrooms, open concept floorplans, and direct-access garages.
Common-area amenities at the property include a clubhouse, resort-style saltwater swimming pool, first-class fitness center with private yoga studio and outdoor exercise lawn, activity park, pet park, three conference rooms, a business center, coworking spaces, package lockers and electric vehicle charging stations.
Millennium Apartments is situated in the heart of the Coachella Valley, a region known for its music festivals that generate more than $600 mil annually. The region is experiencing rising home prices and sluggish increases in single-family home inventory, creating an ideal market for continued multifamily demand.
“Apartment community owners today are navigating through a series of financial issues the industry hadn’t seen in more than a decade. Inflation, high interest rates, increased costs, and strict underwriting conditions are driving many property owners to rely on their property managers to develop ways to triumph through these challenges,” says Laura Khouri, president of Western National Property Management. “Innovative yet experienced firms like WNPM are rising to the occasion and creating effective operating strategies that help drive owners closer to their business objectives.”
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