IE Business Daily Business news for the Inland Empire.
An Irvine company will oversee an apartment complex in the Coachella Valley.
Western National Property Management will manage Millennium Apartments, a 330-unit luxury community in Palm Desert, CA., according to a statement.
Terms of the agreement were not disclosed.
Millenium is at 74699 Technology Drive near Acrisure Arena, which hosts concerts and sporting events throughout the year. It also near art galleries, restaurants, entertainment and shopping venues and Joshua Tree National Park.
“Apartment community owners today are navigating financial issues the industry hasn’t seen in more than a decade,” said Laura Khouri, president of Western National Property Management in the statement. “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 make it through these challenges.”
