MBK RENTAL LIVING HITS MAJOR LEASING MILESTONES IN 2020

Artesa Menifee Town Center New Apartments MBK Rental Living

Full lease-up of Artesa at Menifee Town Center in the Inland Empire highlights an active year of California community openings and land acquisitions

IRVINE, Calif. (January 21, 2021) – MBK Rental Living has announced record apartment leasing in 2020, with four active new communities benefitting from regional migration trends. Navigating a changing but still strong multifamily market with a fine-tuned strategic development and investment plan, the company has achieved a stabilized portfolio averaging over 95 percent occupancy.

“Though renters are pursuing geographically diverse and more attainable multifamily living options with new priorities, fundamentally they continue to demonstrate the overall strong need for housing in California,” said MBK Rental Living President, Craig Jones. “We focus on markets that cover both this new standard while continuing to provide core value. As a result, MBK’s seeing lower vacancies and higher rents at our communities in well-positioned markets throughout California.”

MBK’s investment strategy has been key to helping keep the 30-year-old company successful during the challenges posed in 2020. The company targets growing markets that offer jobs, transportation, good schools, and nearby services, but that are underserved in terms of apartment supply (or only have aging product). To that mix, MBK delivers quality construction and product design that have the feel of a for-sale master-planned community, including sustainable features, extensive community amenities, and spacious interior floor plans perfect for working from home.

Artesa at Menifee Town Center, MBK’s lifestyle apartment community in Riverside County, achieved the fastest lease-up of any community to date for the company, taking only eight months to fill nearly all 330 units versus the typical full-year target schedule. The location offers next-level amenities, signature design elements, and sweeping mountain and hill views. Benefitting from urban-style living in a walkable, small-town setting, Artesa residents enjoy a resort-style pool and two spas, a large clubhouse with a full kitchen for community events, two fitness centers, private garages on select units, common-area Wi-Fi access, a barbeque area, an outdoor lounge, a playground, and a dog park.

Online lead data showed considerable residential movement from the Los Angeles area to newer suburban spots like Menifee, which was ranked in the top 35 “Boomtowns in America” according to a late 2019 SmartAsset’s study.*

“We are seeing a residential recalibration from urban areas to more suburban locales,” Jones added. “The trends of the pandemic pushing more people out of city centers and other dense submarkets as well as the work-from-home adjustment freeing workers from commute concerns, have fueled that migration. Also, people are putting more of a priority on new residential space, which is naturally associated with cleaner, healthier, and more efficient living.”

Two MBK Rental Living projects in the Central Coast region of California have also demonstrated impressive leasing performances. Blue Oak, a 142 unit apartment community in Paso Robles, is fully leased as of December 31, and Azure, MBK’s first Santa Barbara County community, has successfully leased 100 percent of delivered units while still under construction with additional eagerly awaited new apartments to be delivered in February.

MBK Rental Living is primed to build off the strong momentum from 2020 with additional land acquisition in the coming year. Additionally, grading for the next MBK community, a 344-unit project named Esperanza at Duarte Station in Los Angeles County is anticipated to begin this month. The Strand, a 408-unit garden-style apartment community located in West Sacramento, is slated for a Summer 2021 grand opening.

For more information, please visit www.mbkrentalliving.com.

About MBK Rental Living

MBK Rental Living is active in the acquisition and development of apartment communities. The company’s mission is to provide top quality shelter to residents in California. Throughout its 30years, MBK has earned a reputation for delivering award-winning customer satisfaction in housing that is innovative in design, comfort, sustainability, and craftsmanship, all at an excellent value. MBK Rental Living is a division of MBK Real Estate Ltd., the U.S. real estate development arm of Mitsui & Co., Ltd., one of the world’s largest corporations. MBK Real Estate’s companies span a wide spectrum of real estate development, including industrial and senior housing divisions. MBK Rental Living is headquartered in Irvine, California. Corporate offices are located at 4 Park Plaza Suite 1700, Irvine, CA 92614; or visit the website at www.mbkrentalliving.com.

* Source: Top Boomtowns in America – 2019 Edition

MBK RENTAL LIVING ANNOUNCES GRAND OPENING OF ITS FIRST LIFESTYLE APARTMENT COMMUNITY IN SANTA BARBARA COUNTY

Azure offers next-level amenities and signature design elements in a growing rental housing market

IRVINE, Calif. (November 4, 2020) – MBK Rental Living announced today the grand opening of Azure, a luxury garden-style apartment community focused on exterior amenities in Santa Maria, California. The new lifestyle rental community is comprised of 318 studio and one-, two-, and three-bedroom residences ranging in size from 406 square feet to 1,211 square feet. Virtual tours and leasing are now underway at MBK Rental Living’s premiere Santa Barbara County community, which is adjacent to the new Battles Elementary School, shopping centers, and other outdoor attractions.

“We are thrilled about our newest development which offers luxury features and quality construction to Santa Maria’s thriving market,” said MBK Rental Living President, Craig Jones. “Azure combines rustic style with modern sophistication while providing residents a long list of lifestyle comforts including options for roomy interiors for working from home and extensive, amenity-rich outdoor spaces.”

Residents will enjoy open floor plans with vaulted ceilings, wood-style flooring, wall-controlled ceiling fans, gas ranges, stainless-steel appliances, and quartz countertops as well as technology-ready pre-wired spaces, closets with built-in shelves, covered patios with storage rooms and more. Shared amenities at the new community will include a modern farmhouse-style clubhouse with entertainment kitchen, two resort-style swimming pools surrounded by covered cabanas and firepits, two spas, an outdoor ping pong table, horseshoe pit, traditional and Santa Maria-style barbeque grills, a 24-hour fitness center, futsal sports court, bocce ball court, two playgrounds, dog park and pet spa, business center and more.

Located on 14.5 acres at 703 E. Meehan Street, Azure is surrounded by nearby shopping including the new Enos Ranch shopping center, Costco, Lowe’s, Best Buy, Kohl’s, Target, Trader Joe’s, Walmart and Office Depot. Dining options in close proximity include In-N-Out Burger, Buffalo Wild Wings, and many popular restaurants serving famous Santa Maria-style barbecue. Residents will also benefit from quick access to U.S. Route 101 leading to Santa Barbara, San Luis Obispo, Los Padres National Forest, Solvang, Los Olivos, and nearby beaches.

According to the California Department of Finance and the U.S. Census Bureau, Santa Maria has grown roughly 40.1 percent over the last 19 years, surpassing Santa Barbara as the county’s largest city1. The population expansion has city and business leaders focused on facilitating new housing developments needed to support that growth.

“Azure will provide new apartments in a market where quality of life and new jobs are attracting new residents, but where move-up rental housing is in short supply,” Jones said. “This luxury lifestyle community will appeal to residents of all ages, from young professionals and growing families to empty nesters.”

For more information, please visit www.LiveAtAzure.com.

About MBK Rental Living

MBK Rental Living is active in the acquisition and development of apartment communities. The company’s mission is to be the preeminent lifestyle developer focusing on creating communities that deliver value for their residents, partners, and investors. Throughout its 30-year history, MBK has earned a reputation for delivering award-winning customer satisfaction in housing that is innovative in design, comfort, sustainability and craftsmanship, all at an excellent value. MBK Rental Living is a division of MBK Real Estate Ltd., the U.S. real estate development arm of Mitsui & Co., Ltd., one of the world’s largest corporations. MBK Real Estate’s companies span a wide spectrum of real estate development including homebuilding, industrial, and senior housing divisions. MBK Rental Living is headquartered in Irvine, California. Corporate offices are located at 4 Park Plaza Suite 1700, Irvine, CA 92614; or visit their website at www.MBKRentalLiving.com.

1 Source: Santa Maria Times

MBK RENTAL LIVING SELLS MITCHELL PLACE APARTMENTS TO MG PROPERTIES GROUP

230-unit, Class A Multifamily property located in Riverside County and within commuting distance to San Diego, Orange, and Los Angeles Counties

MURRIETA, Calif. (October 20, 2020) Amid a national pandemic and economic turbulence for market investors, MBK Rental Living is delighted to have successfully delivered and professionally executed their sale of Mitchell Place, a 230-unit new Class A apartment community in Murrieta, Calif. to MG Properties Group.

Key Data Points:

  • Mitchell Place is one of the largest apartment transactions of 2020 in the Inland Empire.
  • The community was leased up in less than 12 months despite the impacts of the national pandemic, while raising rental rates and offering almost no concessions.

Opened in June 2019, the gated community consists of flats and townhomes with nine floor-plans. The one-, two- and three-bedroom residences range from 787 to 1,294 square feet. The amenity-filled property provides easy access to the I-15 and I-215 freeways, connecting residents to employment centers in the four Southern California counties of Riverside, San Diego, Orange, and Los Angeles. The community was designed with a multitude of common area amenities and is located near the shopping and dining venues of downtown Murrieta as well as the area’s wide variety of recreational sites.

“Mitchell Place established a new benchmark for rental living in SW Riverside County, with exceptional design, beautiful interior and exterior amenities, and designer-selected unit finishes. Murrieta continues to be an attractive market that investors want to be in for the long term due to its tremendous market fundamentals.” said Craig Jones, president of MBK Rental Living. “The location, combined with its exceptional design, made Mitchell Place an attractive investment opportunity for buyers despite the challenges posed by the pandemic. We’re pleased to have completed this transaction with MG.”

“We are pleased to add Mitchell Place to our Inland Empire portfolio. The property’s strong performance trends and the region’s robust economy make it an excellent fit for our long-term yield-oriented investment strategy,” said Mark Gleiberman, MG Properties Group’s CEO.

John Chu and Ed Rosen of Berkadia brokered the sale on behalf of MBK Rental Living. Financing was provided by Fannie Mae and arranged by Charles Christensen at Berkadia.

MG Properties Group has purchased 8 communities in the past 12 months. These acquisitions totaled over 2,400 units and over $670 million in combined value. The company is targeting further acquisitions in Washington, Oregon, Arizona, California, Colorado, and Nevada.

About MBK Rental Living

MBK Rental Living is active in the acquisition and development of apartment communities. The company’s mission is to be the preeminent lifestyle developer focusing on creating communities that deliver value for their residents, partners, and investors. Throughout its 30-year history, MBK has earned a reputation for delivering award-winning customer satisfaction in housing that is innovative in design, comfort, sustainability, and craftsmanship, all at an excellent value.

MBK Rental Living is a division of MBK Real Estate Ltd., the U.S. real estate development arm of Mitsui & Co., Ltd., one of the world’s largest corporations. MBK Real Estate’s companies span a wide spectrum of real estate development including homebuilding, industrial, and senior housing divisions. MBK Rental Living is headquartered in Irvine, California. Corporate offices are located at 4 Park Plaza Suite 1700, Irvine, CA 92614; or visit their website at www.MBKRentalLiving.com.

About MG Properties Group

MG Properties Group (www.mgproperties.com) is a privately owned West Coast real estate owner and operator specializing in multi-housing assets. Over the last 27 years MG Properties Group has acquired over 144 communities with its private investors and institutional joint venture partners totaling over 34,000 units, representing more than $6.5 billion in total asset value, including 25,000 units since 2010. The company’s current portfolio includes 22,000 units valued at $5 billion in California, Washington, Arizona and Nevada, and Oregon. MG Properties Group employs over 650 professionals with in-house expertise in acquisitions and underwriting as well as asset, property, construction, and investment management.

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MBK RENTAL LIVING ACQUIRES THREE-PLUS ACRES FOR SECOND NEW LUXURY APARTMENT COMMUNITY IN DUARTE, CALIFORNIA

Esperanza in Duarte CA _ MBK Rental Living

Second joint venture with Haseko Corporation to provide an additional 292 apartments in well-located L.A. County rental housing submarket

IRVINE, Calif. (September 29, 2020) – MBK Rental Living (MBK) recently announced the acquisition of a 3.41-acre site in Duarte, California for a new 292-unit luxury apartment community located only 11 miles from downtown Pasadena and 22 miles from downtown Los Angeles. MBK is proud to partner with Haseko Corporation (Haseko) in this second apartment joint venture with the company. The five-story transit-oriented development is located along the vibrant Interstate I-210 corridor and just steps away from the City of Hope Metro Gold Line Station. It will offer a mix of flats and lofted studios, one-, two-, and three-bedroom units, and co-living apartments.

Construction on this new apartment community, which will include an eight-story parking structure, is scheduled to start in 2022 and will follow the 344-unit first phase, with the grand opening slated for Summer 2024. This new wrap-style development is situated adjacent to the partners’ first 4.3-acre site in Duarte named Esperanza at Duarte Station, which was acquired in December 2019 and will deliver 344 luxury apartments upon completion in mid-2023.

“MBK is excited to design and deliver an additional modern and inspired apartment development in Southern California with a focus on luxury living and lifestyle amenities centered around exterior gathering spaces. We’re thrilled to have joined with Haseko to provide 636 units of much needed housing along the I-210 corridor and Gold Line in the very near future,” said MBK Rental Living President Craig Jones. “Our strategy with these two adjacent developments at Duarte Station is to design distinct yet interconnected projects focused around outside living that will serve multiple price points with the goal of providing relative affordability and diversity with an extraordinary living experience.”

The new apartment community will appeal to a diverse range of renters, from students and families to professionals and empty nesters, with its substantial variety of floor plans and convenient metro access combined with a stylish eclectic mix of contemporary architecture and traditional detailing. Amenities at the new community will include a fitness center and resort-style pool and spa, a clubroom, and “Bru Hause” gathering spot. Residents will also enjoy the direct connection that both communities will have with the openness to nature throughout by experiencing the entertainment alleyway, where they can enjoy food trucks and outdoor entertainment, pocket parks with citrus trees, and a linear park that runs the entire length of the community with a dog park and additional lounge areas.

“This land acquisition demonstrates MBK’s confidence in the market and our desire and ability to continue investing during these challenging times and develop sizable, well-located projects that have an inspiring sense of place and a connection with outdoor spaces,” Jones said. “Teaming once more with Haseko, we’re employing our disciplined strategy to build exceptional living spaces with an added design emphasis on safety, health, and security in our new normal.”

“Continuing from Esperanza at Duarte Station, we are excited to participate in the second phase of the development project in this attractive area. We are confident that the combination of two projects next to each other will also bring more variety of living opportunities to the renters. We are so pleased to have MBK Rental Living, such an experienced and trustworthy company, as our partner,” said Operating Officer of Haseko Corporation Eijo Daimon.

The luxury community will offer residents convenient access via train and freeway to Pasadena and downtown L.A. to the west and the Inland Empire, including universities and Ontario International Airport, to the east. The community is also in close proximity to Target, Trader Joe’s, Walmart, and other major retail and entertainment options as well as employment centers and community services including City of Hope, a 120-acre comprehensive cancer treatment center that is currently expanding. Historic Route 66 and the historic towns of Monrovia and Bradbury are also just minutes away.

About MBK Rental Living

MBK Rental Living is active in the acquisition and development of apartment communities. The company’s mission is to be the preeminent lifestyle developer focusing on creating communities that deliver value for their residents, partners, and investors. Throughout its 30-year history, MBK has earned a reputation for delivering award-winning customer satisfaction in housing that is innovative in design, comfort, sustainability, and craftsmanship, all at an excellent value. MBK Rental Living is a division of MBK Real Estate Ltd., the U.S. real estate development arm of Mitsui & Co., Ltd., one of the world’s largest corporations. MBK Real Estate’s family of companies spans a wide spectrum of real estate development including apartment development, industrial, and senior housing divisions. MBK Rental Living is headquartered in Irvine, California. Corporate offices are located at 4 Park Plaza, Suite 1700, Irvine, CA 92614; or visit their website at www.MBKRentalLiving.com.

About Haseko Corporation

Haseko Corporation, established in 1937, is a Japanese-based construction company mainly specializing in the development of residential condominiums.  The company has built approximately 660,000 condominium units throughout Japan since 1968, equivalent to roughly 10% of Japan’s condominium stock.

About Haseko America

Haseko America, Inc., a wholly-owned subsidiary of Haseko Corporation, has been developing residential, commercial, and resort properties in Hawaii since 1973, including luxury resorts, residential communities, commercial properties, and upscale condominiums on Oahu, Maui, Kauai, and the Big Island. To date, the company has sold 4,000 single-family homes in Hawaii.

MBK RENTAL LIVING ANNOUNCES GRAND OPENING OF A NEW SOUTH BAY LIFESTYLE APARTMENT COMMUNITY IN CONJUNCTION WITH THE UNVEILING OF A 130-FOOT MURAL

The large-scale mural, designed by local artist and mural painter Michael Che Romero of Vivache Designs, celebrates the culture and diversity of the City of Carson

IRVINE, Calif. (September 9, 2020) – MBK Rental Living announced the opening of Evolve South Bay, a new thoughtfully designed 300-unit apartment community in Carson, California. Virtual and in-person tours and appointments are underway with enhanced in-person procedures in place to keep visitors safe. Offering the fusion of an urban, fast-paced Los Angeles lifestyle in a sophisticated California South Bay community, Evolve will include three-story stacked flats, some with private garages and top-floor lofts overlooking the 11.9-acre community and the neighboring Porsche Driving Experience.

In conjunction with pre-leasing of the new community, MBK Rental Living is unveiling its 130’ wide by 25’ tall mural along the I-405 at Evolve South Bay. The original design is by a local renowned Los Angeles-based artist and founder of Vivache Designs, Michael Che Romero. A collaboration between MBK Rental Living, the City of Carson, and Vivache Designs was created to celebrate the culture and diversity of Carson.

“Deep and rich in history, Carson is growing, and we couldn’t be more excited to be a part of it,” said MBK Rental Living President, Craig Jones. “The mural is the perfect vehicle to illustrate the creative spirit and energy of Evolve South Bay, extend it to the greater community to acknowledge its residents, and recognize the supportive partnership we received from the City of Carson. We wanted the mural to visually represent the community, culture, and diversity of Carson, South Bay, and South Los Angeles overall. Through the vision and creativity of Vivache Designs, we were able to achieve that.”

“The mural was designed to honor Southern California and create a sense of belonging. I really wanted to ease the stress of people’s commutes, to make them take a breath as they drive in LA’s notorious traffic. My goal is to create a freeway gallery so art can transform spaces and replace the anxiety of driving in traffic with a sense of upliftment and community. I wanted to bring street art into this dynamic, contemporary form while drawing on the beauty and diversity that is South LA/South Bay,” said Romero. “Every element within the mural is a testament to our region, from the red and blue gradation tones that represent the sunset and ocean to the repeated floral stencil pattern that showcases the fertility of the land alongside the palm tree silhouettes. The race- and gender-ambiguous line art face is a tribute to our incredible diversity – and the form gazes up hopefully, looking into the future and connecting with the human spirit. This is meant to embrace the sense of community that Evolve is building with its units. Finally, the City of Carson logo acts as the sun – the catalyst for the creation.”

Evolve South Bay offers 11 spacious floor plans ranging in size from approximately 695 square feet to 1,200 square feet. Luxury interior finishes include modern cabinetry, quartz countertops, stainless steel appliances, and distinctive wood-style flooring. Residents will also enjoy open-concept living areas, front-load washers and gas dryers, ceiling fans in living rooms, energy-efficient LED lighting, and covered patios. Gourmet kitchens with prep islands and private direct access garages will also be available, depending on floor plan.

“Evolve delivers a mix of high-end design and lifestyle-enriching amenities that create an oasis for residents in the South Bay,” said Jones. “Beyond our homes’ design finishes and enhancements, which are unparalleled in the market, our hotel-inspired amenities extend residents’ home and living experience, evoking a sense of community and connection.”

Community amenities at Evolve South Bay include a two-story clubhouse with kitchen for private parties or community events; a state-of-the-art fitness studio, yoga room, and outdoor fitness equipment with a running track— which could also be used as a walking path for daily exercise and stress relief; and a resort-style pool and spa with cabanas, barbecue area, outdoor fireplaces, outdoor media lounge, and social lounge for relaxing and catching up with friends and neighbors. The second story is a co-working space open to both residents and the public with private offices and conference rooms that can be reserved. Other amenities in the controlled access community include a playground, bocce ball court, community dog park and dog wash, package lockers, and Wi-Fi access in common areas.

Evolve South Bay is conveniently located at 20330 South Main Street in Carson. Residents will have excellent access to I-405, I-110 and I-710 as well as nearby neighborhoods that include Torrance, Gardena, Long Beach, and Redondo Beach, with access to Los Angeles International Airport and Long Beach Airport. Immediately north of the community is the Porsche Experience Center, a 52-acre complex that is home to Porsche North America and includes a road course, restaurant, and other performance facilities.

About MBK Rental Living

MBK Rental Living is active in the acquisition and development of apartment communities. The company’s mission is to be the preeminent lifestyle developer focused on creating communities that deliver value for their residents, partners, and investors. Throughout its 30 years, MBK has earned a reputation for delivering award-winning customer satisfaction in housing that is innovative in design, comfort, sustainability, and craftsmanship, all at an excellent value. MBK Rental Living is a division of MBK Real Estate Ltd., the U.S. real estate development arm of Mitsui & Co., Ltd., one of the world’s largest corporations. MBK Real Estate’s family of companies spans a wide spectrum of real estate development, including apartment development, industrial, and senior housing divisions. MBK Rental Living is headquartered in Irvine, California. Corporate offices are located at 4 Park Plaza, Suite 1700, Irvine, CA 92614; or visit their website at www.MBKRentalLiving.com.

MBK RENTAL LIVING ANNOUNCES GRAND OPENING OF A NEW SOUTH BAY LIFESTYLE APARTMENT COMMUNITY IN CONJUNCTION WITH THE UNVEILING OF A 130-FOOT MURAL

The large-scale mural, designed by local artist and mural painter Michael Che Romero of Vivache Designs, celebrates the culture and diversity of the City of Carson

IRVINE, Calif. (August 25, 2020) – MBK Rental Living announced today that Evolve South Bay, a new thoughtfully designed 300-unit apartment community in Carson, California, is now open for pre-leasing via online appointments and virtual tours. In-person tours and appointments will commence September 1st with enhanced procedures in place to keep visitors safe. Offering the fusion of an urban, fast-paced Los Angeles lifestyle in a sophisticated California South Bay community, Evolve will include three-story stacked flats, some with private garages and top-floor lofts overlooking the 11.9-acre community and the neighboring Porsche Driving Experience.

In conjunction with pre-leasing of the new community, MBK Rental Living is unveiling its 130’ wide by 25’ tall mural along the I-405 at Evolve South Bay. The original design is by a local renowned Los Angeles-based artist and founder of Vivache Designs, Michael Che Romero. A collaboration between MBK Rental Living, the City of Carson, and Vivache Designs was created to celebrate the culture and diversity of Carson.

“Deep and rich in history, Carson is growing, and we couldn’t be more excited to be a part of it,” said MBK Rental Living President, Craig Jones. “The mural is the perfect vehicle to illustrate the creative spirit and energy of Evolve South Bay, extend it to the greater community to acknowledge its residents, and recognize the supportive partnership we received from the City of Carson. We wanted the mural to visually represent the community, culture, and diversity of Carson, South Bay, and South Los Angeles overall. Through the vision and creativity of Vivache Designs, we were able to achieve that.”

“The mural was designed to honor Southern California and create a sense of belonging. I really wanted to ease the stress of people’s commutes, to make them take a breath as they drive in LA’s notorious traffic. My goal is to create a freeway gallery so art can transform spaces and replace the anxiety of driving in traffic with a sense of upliftment and community. I wanted to bring street art into this dynamic, contemporary form while drawing on the beauty and diversity that is South LA/South Bay,” said Romero. “Every element within the mural is a testament to our region, from the red and blue gradation tones that represent the sunset and ocean to the repeated floral stencil pattern that showcases the fertility of the land alongside the palm tree silhouettes. The race- and gender-ambiguous line art face is a tribute to our incredible diversity – and the form gazes up hopefully, looking into the future and connecting with the human spirit. This is meant to embrace the sense of community that Evolve is building with its units. Finally, the City of Carson logo acts as the sun – the catalyst for the creation.”

Evolve South Bay offers 11 spacious floor plans ranging in size from approximately 695 square feet to 1,200 square feet. Luxury interior finishes include modern cabinetry, quartz countertops, stainless steel appliances, and distinctive wood-style flooring. Residents will also enjoy open-concept living areas, front-load washers and gas dryers, ceiling fans in living rooms, energy-efficient LED lighting, and covered patios. Gourmet kitchens with prep islands and private direct access garages will also be available, depending on floor plan.

“Evolve delivers a mix of high-end design and lifestyle-enriching amenities that create an oasis for residents in the South Bay,” said Jones. “Beyond our homes’ design finishes and enhancements, which are unparalleled in the market, our hotel-inspired amenities extend residents’ home and living experience, evoking a sense of community and connection.”

Community amenities at Evolve South Bay include a two-story clubhouse with kitchen for private parties or community events; a state-of-the-art fitness studio, yoga room, and outdoor fitness equipment with a running track— which could also be used as a walking path for daily exercise and stress relief; and a resort-style pool and spa with cabanas, barbecue area, outdoor fireplaces, outdoor media lounge, and social lounge for relaxing and catching up with friends and neighbors. The second story is a co-working space open to both residents and the public with private offices and conference rooms that can be reserved. Other amenities in the controlled access community include a playground, bocce ball court, community dog park and dog wash, package lockers, and Wi-Fi access in common areas.

Evolve South Bay is conveniently located at 20330 South Main Street in Carson. Residents will have excellent access to I-405, I-110 and I-710 as well as nearby neighborhoods that include Torrance, Gardena, Long Beach, and Redondo Beach, with access to Los Angeles International Airport and Long Beach Airport. Immediately north of the community is the Porsche Experience Center, a 52-acre complex that is home to Porsche North America and includes a road course, restaurant, and other performance facilities.

About MBK Rental Living

MBK Rental Living is active in the acquisition and development of apartment communities. The company’s mission is to be the preeminent lifestyle developer focused on creating communities that deliver value for their residents, partners, and investors. Throughout its 30 years, MBK has earned a reputation for delivering award-winning customer satisfaction in housing that is innovative in design, comfort, sustainability, and craftsmanship, all at an excellent value. MBK Rental Living is a division of MBK Real Estate Ltd., the U.S. real estate development arm of Mitsui & Co., Ltd., one of the world’s largest corporations. MBK Real Estate’s family of companies spans a wide spectrum of real estate development, including apartment development, industrial, and senior housing divisions. MBK Rental Living is headquartered in Irvine, California. Corporate offices are located at 4 Park Plaza, Suite 1700, Irvine, CA 92614; or visit their website at www.MBKRentalLiving.com.

MBK RENTAL LIVING ANNOUNCES GRAND OPENING OF A NEW LIFESTYLE APARTMENT COMMUNITY NOW LEASING IN RIVERSIDE COUNTY

Artesa Menifee Town Center New Apartments MBK Rental Living

Artesa at Menifee Town Center offers next-level amenities, signature design elements and sweeping hillside views

MENIFEE, Calif. (May 27, 2020) MBK Rental Living announced today that Artesa at Menifee Town Center, a Spanish mission-style apartment community in Menifee, is now leasing and providing virtual tours. Offering urban-style living in a walkable, small-town setting, the new 15-acre community will include 37 two- and three-story walk-up apartment buildings with one-, two- and three-bedroom options ranging from approximately 820 to 1,322 square feet. The professionally decorated model residences are currently available for virtual tours daily.

Located at 30414 Town Center Drive near Interstate 215, Artesa offers residents eight open-concept floor plans featuring luxury interior finishes including modern cabinetry, quartz countertops, stainless-steel G.E. appliances, in-home full-size washer and dryer, distinctive wood-style flooring, and private garages. Residents will enjoy a resort-style pool and spa, a large entertaining clubhouse with full kitchen and a sports TV wall for community events, two fitness centers, common-area Wi-Fi access, a barbeque area, an outdoor California lounge with dual fireplace, a playground, package lockers and a dog wash and park.

“Connectivity is such a big priority for apartment residents and they’ll find it in abundance at Artesa at Menifee Town Center,” said Craig Jones, president of MBK Rental Living. “The long list of community amenities and the walkable and vibrant ‘urban’ environment provide that connectivity and support a lifestyle of greater possibility.”

Artesa is located within walking distance to the plentiful shopping, dining and entertainment options at the 172-acre Menifee Town Center. The community is across the street from Menifee Countryplace with Target, Starbucks and numerous other businesses and restaurants. Artesa is also in close proximity to Menifee Lakes Plaza, the City of Menifee Civic Center, Mt. San Jacinto College (MSJC), and Menifee Lakes Country Club and Golf Course. One of California’s fastest growing community colleges, MSJC will add a more than $40 million STEM facility to support the city’s skilled workforce, and could open as early as late 20231.

In late 2019, Menifee ranked in the top 35 “Boomtowns in America,” according to SmartAsset’s study2  of cities across the country where populations and job opportunities are rising rapidly. The city of approximately 94,000 people ranked behind only two other California cities.

The project partners for Artesa at Menifee Town Center include R.D. Olson Construction, SummA Architecture, Gouvis Engineering, Alliance Residential Company and Sitescapes. Leasing is currently underway. For more information, please visit https://liveartesa.com/.

1 InlandEmpire.US
2Top Boomtowns in America – 2019 Edition

About MBK Rental Living

MBK Rental Living is active in the acquisition and development of apartment communities. The company’s mission is to be the preeminent lifestyle developer focused on creating communities that deliver value for their residents, partners, and investors. Throughout its 30 years, MBK has earned a reputation for delivering award-winning customer satisfaction in housing that is innovative in design, comfort, sustainability, and craftsmanship, all at an excellent value. MBK Rental Living is a division of MBK Real Estate Ltd., the U.S. real estate development arm of Mitsui & Co., Ltd., one of the world’s largest corporations. MBK Real Estate’s family of companies spans a wide spectrum of real estate development, including apartment development, industrial, and senior housing divisions. MBK Rental Living is headquartered in Irvine, California. Corporate offices are located at 4 Park Plaza, Suite 1700, Irvine, CA 92614; or visit their website at www.MBKRentalLiving.com.

MBK RENTAL LIVING ACQUIRES 4.3 ACRES IN DUARTE, CALIFORNIA, FOR NEW LUXURY APARTMENT COMMUNITY

Esperanza in Duarte CA _ MBK Rental Living

Joint venture with Haseko Corporation to provide 344 apartments in well-located L.A. County rental housing submarket

IRVINE, Calif. (March 10, 2020) – MBK Rental Living recently announced the acquisition of a 4.3-acre site in Duarte, California, for a new 344-unit luxury apartment community. A joint venture with Haseko Corporation, the five-story transit-oriented development, just steps away from the City of Hope Metro Gold Line Station, will offer studio, one-, two-, and three-bedroom apartment homes only 11 miles from downtown Pasadena and 22 miles from downtown Los Angeles along the vibrant Interstate I-210 corridor.

“Delivering luxury amenities and elevated lifestyle in this high-demand, highly-connected L.A. County market is an exciting opportunity for MBK and Haseko,” said MBK Rental Living President Craig Jones. “Adjacency to transportation options, including the L.A. Metro Rail and the I-210 and I-605 interchange between Pasadena and the Inland Empire, enhances the lifestyle and convenience this rental community will offer to a diverse range of renters, from students and families to professionals and empty nesters.”

Shared amenities at the new pet-friendly community will include a unique rooftop fitness center and resort-style pool and spa with scenic views of snowcapped mountains. In addition, residents will enjoy access to outdoor entertainment and cooking spaces, co-working venue, dog park, pet washing station, parks located throughout the community, and linear park that runs the entire length of the community. Residents will have easy access to Target, Trader Joe’s, Walmart, and other major retail and entertainment options. The community is also in close proximity to employment centers and community services including City of Hope, a 120-acre comprehensive cancer treatment center that is currently expanding.

This new apartment community will offer residents convenient access, via train and freeway, to Pasadena and downtown L.A. to the west and the Inland Empire, including universities and Ontario International Airport, to the east. The location is also close to historic Route 66 and the historic towns of Monrovia and Bradbury.

“This land acquisition demonstrates the expertise of the MBK team in sourcing, securing, and optimizing the entitled project design, and the power of a strategic partnership between Haseko and Mitsui, who each have a long track record of success in Japan. We are very excited to be expanding our existing relationship with Haseko in developing real estate in California,” Jones said.

Construction on the luxury apartment community, which will include a six-story parking structure, is scheduled to start in late 2020, with the grand opening slated for mid-2023.

About MBK Rental Living

MBK Rental Living is active in the acquisition and development of apartment communities. The company’s mission is to be the preeminent lifestyle developer focused on creating communities that deliver value for their residents, partners, and investors. Throughout its 30 years, MBK has earned a reputation for delivering award-winning customer satisfaction in housing that is innovative in design, comfort, sustainability, and craftsmanship, all at an excellent value. MBK Rental Living is a division of MBK Real Estate Ltd., the U.S. real estate development arm of Mitsui & Co., Ltd., one of the world’s largest corporations. MBK Real Estate’s family of companies spans a wide spectrum of real estate development, including apartment development, industrial, and senior housing divisions. MBK Rental Living is headquartered in Irvine, California. Corporate offices are located at 4 Park Plaza, Suite 1700, Irvine, CA 92614; or visit their website at www.MBKRentalLiving.com.

About Haseko Corporation

Haseko Corporation, established in 1937, is a Japanese-based construction company mainly specializing in the development of residential condominiums.  The company has built approximately 640,000 condominium units throughout Japan since 1968, equivalent to roughly

10% of Japan’s condominium stock.

Haseko America, Inc., a wholly-owned subsidiary of Haseko Corporation, has been developing residential, commercial, and resort properties in Hawaii since 1973, including luxury resorts, residential communities, commercial properties, and upscale condominiums on Oahu, Maui, Kauai, and the Big Island. To date, the company has sold 4,000 single-family homes in Hawaii.

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