OCEANSIDE, CALIF./ FEBRUARY 19, 2019 (STL.News)
The REMM Group has been awarded property management of The Dylan by the asset’s new owners, 29th Street Capital. They acquired the Oceanside multifamily community January 31, 2019. Plans for the real estate asset include capital improvements of the 207 units and expansive grounds.
Richard Marshall, Vice President of Acquisitions for Southern California, for 29th Street Capital said the company plans capital improvements totaling over 1.75 million, approximately $8,500 per unit.
Renovations will include modern flooring, new cabinet fronts, interior doors, hardware and appliances as needed. There are also plans to improve exterior areas with a new barbecue area, patio pavers and higher-quality finishes.
Marshall said, “We chose The REMM Group to manage the property because of their depth of experience making multifamily assets shine and providing tenants with a warm, inviting atmosphere.”
Sara D’Elia, IREM Orange County’s 2019 Real Estate Professional of the Year and CEO of The REMM Group said, “This is a unique property with open space, gardens and a grassy green area conveniently located near downtown Oceanside. We look forward to using our expertise in multifamily renovation to fulfill the owner’s vision to add even more comfort and luxury to the apartment community.”
Marshall added, “The REMM team are Southern California specialists. This is our first property in San Diego County and we appreciate their additional insight into the market.”
The REMM Group manages 41 Southern California multifamily communities, nine in San Diego County.
The Dylan is a pet-friendly apartment community with large one, two and three- bedroom floor plans that include dishwashers, garbage disposals and private patios. The amenities include a Fitness Center, two pools, a playground and covered parking. The luxury apartment homes are conveniently located 5 miles from the ocean and 2 miles from Marine Corps Base Camp Pendleton.
The REMM Group is an award winning IREM Accredited Real Estate Management Organization (AMO). They provide property management for industrial, office, retail, mixed use and multifamily properties. The REMM Group was awarded one of the: Best Places to work in Multifamily for 2018 and 2019, The REMM Group’s corporate office is located at 15991 Red Hill Ave. Ste. 200 Tustin, CA 92780.
Formed in 2009, 29th Street Capital is a privately-held real estate investment and advisory firm that employs a value-added investment strategy in acquiring properties that typically fall below the radar of its institutional peers. Over the past 12 months 29th Street Capital has acquired 17 conventional multifamily assets and continues to actively pursue additional opportunities throughout the U.S.