PALM DESERT, CA, July 25, 2024 – Western National
Property Management (WNPM),
a seasoned property management firm that specializes in multifamily communities
and commercial properties across Southern California and Nevada, has been
selected by Metonic Real
Estate Solutions to
professionally manage Millennium
Apartments, a 330-unit
luxury multifamily apartment community in Palm Desert, California.
Laura Khouri
The assignment reflects the ability of WNPM, a
65-year-old company and a subsidiary of full-service commercial real estate
firm Western National Group, to create value, generate efficiencies and
increase ROI for multifamily owners in a challenging environment, according to Laura
Khouri, president of Western National Property Management.
Millennium Apartments, Palm Desert, CA
“Apartment community owners today are navigating through a series of financial issues the industry hadn’t seen in more than a decade," says Khouri.
"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.
“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.”
The assignment also reflects WNPM’s deep expertise in managing apartment communities, office, and retail properties throughout the Western United States, Khouri adds.
“The Western National team has an ownership mentality that
enables us to align seamlessly with what today’s property owners are seeking,
delivering on their investment metrics while always treating each property as
our own,” says Khouri.
“This approach sets us apart from other management companies and draws discerning companies like Metonic Real Estate Solutions to us time and again.”
Millennium Apartments is situated in the heart of the
Coachella Valley, a region known for its music festivals
that generate more than $600 million annually.
The region is experiencing rising home prices
and sluggish increases in single-family home inventory, creating an ideal market for continued
multifamily demand.
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| Kassie Inness |
“In an age when many property
management firms are relying primarily on self-guided tours and AI to replace
people, Western National’s human-centric approach is welcome and distinguishes
them from others in the market.”
Ideally located amidst a thriving cultural and
recreational scene, Millennium Apartments is situated 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.
Opening late summer, Millennium Apartments is located at
74699 Technology Drive, Palm Desert, CA 92211.
Contacts:
Sophia Reznicek or Lexi Astfalk
(949) 438-6262
https://www.wnpmapartments.com/.
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