Hines and MBK Rental Living Announces Plan For Natomas Fountains In Sacramento

Class-A Residential Community Will Meet Demand for High-Quality Rental Product in Market

(SACRAMENTO) – Hines, a global real estate investment, development, and property manager, and MBK Rental Living today announced plans for Natomas Fountains, a 303-unit luxury apartment development that will consist of six, three-story buildings located in a transit-oriented, highly amenitized suburban location within five miles of downtown Sacramento. The project is slated for completion in 2026.

The development will be designed with best-in-market finishes and floorplans will include studio, one-bedroom, and two-bedroom offerings ranging from 540 to 1,185 square feet. Featuring a fully integrated residential experience, future residents will have access to an array of market-leading amenities including a resort-style pool, a contemporary co-working space, a fitness center, a dog park, and a multipurpose simulator space. The development is designed by BSB Design with interiors by Carnegis Group.

“Natomas Fountains stands out due to its unique location in a rapidly growing area, with easy access to meaningful surrounding amenities and superb access to other parts of the city,” said Manuel Soto, Director and City Head of the Sacramento office of Hines. “The development will meet the demand for high-quality living options in Sacramento and we are confident the project will not only enhance the lifestyle of future residents but also enrich the existing community.”

“Natomas Fountains is certain to be a vanguard luxury living offering in suburban Sacramento and we’re proud to strengthen our partnership and elevate the resident experience alongside Hines,” stated Ken McCarren, President of MBK Rental Living. “At MBK, our mission is to provide residents with exemplary living environments that align with the dynamic pace of modern life. Through this collaboration, we’re creating a community where residents can flourish in a seamlessly integrated environment.”

Situated on a 10.6-acre parcel at the intersection of Truxel Road and Gateway Park Boulevard, Natomas Fountains will provide convenient access to Natomas’ extensive shopping, dining, and entertainment options. The vibrant and growing neighborhood is known for its family-friendly atmosphere, excellent schools, and convenient location in the northern part of Sacramento. It is conveniently located near I-80 and other major highways.

“We’re excited for Hines’ continued growth in North Natomas and welcome MBK Rental Living, enhancing our beautiful diverse community. This development, within walking distance of retail, restaurants, and multiple bus stops, connects residents to Sacramento’s amenities,” said Mayor Pro Tem Karina Talamantes.

Hines has been active in the Sacramento market for 22 years, most recently with the completion of the Centene Campus in 2020.

About Hines

Hines is a global real estate investment, development and property manager. The firm was founded by Gerald D. Hines in 1957 and now operates in 30 countries. We manage a $94.6B¹ portfolio of high-performing assets across residential, logistics, retail, office, and mixed-use strategies. Our local teams serve 790 properties totaling over 269 million square feet globally. We are committed to a net zero carbon target by 2040 without buying offsets. To learn more about Hines, visit www.hines.com and follow @Hines on social media.

¹Includes both the global Hines organization as well as RIA AUM as of June 30, 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 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 LLC., 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 apartments, industrial, and their senior housing divisions. 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 PRELEASING AT SOLAR-POWERED LUXURY APARTMENT COMMUNITY IN SONOMA COUNTY

The Haven at Deer Creek Petaluma

The Haven at Deer Creek in Petaluma offers 134 three-story one- and two-bedroom apartments

PETALUMA, Calif. (March 15, 2024 ) – MBK Rental Living, a leading innovator in private real estate development in California, announced the commencement of pre-leasing at The Haven at Deer Creek. This brand-new Class-A residential community boasts 134 thoughtfully designed apartments in the highly sought-after Petaluma, CA. Featuring both three-story garden style and three-story podium style apartments, The Haven at Deer Creek’s buildings are solar-powered for maximum efficiency. The community’s grand opening is anticipated for Summer 2024. Hard hat tours are being held now by appointment.

“We are thrilled to introduce The Haven at Deer Creek to Petaluma, a thriving city within a region experiencing significant housing demand,” said Ken McCarren, President of MBK Rental Living. “These residences prioritize both comfort and sustainability, offering residents a luxurious, yet laid-back environment with exceptional access to San Francisco, Napa, and the broader Bay Area.”

The Haven at Deer Creek features 134 one- and two-bedroom apartments ranging from approximately 720 to 1,202 square feet. Each unit showcases a modern Spanish-inspired interior design scheme. Residents will enjoy open floor plans with ample natural light, stainless-steel appliances, wood-style plank flooring, quartz countertops, ceiling fan, kitchen tile backsplashes, undermount stainless steel sinks, private patios or balconies, in-unit washer and dryers, and double-pane, low-E windows for optimal energy efficiency.

Beyond the individual residences, the community boasts an impressive array of amenities. An expansive outdoor living area features a hot tub, grilling stations, a pizza oven, and a welcoming fireplace; all overlooking the scenic Deer Creek and Petaluma’s vibrant Art Walk. The thoughtfully designed Resident Lounge offers a fireplace, communal tables, dedicated work-from-home areas, a pool table, and a fully equipped entertainer’s kitchen.

Strategically located at 459 N. McDowell Blvd. in Petaluma, The Haven at Deer Creek provides residents with effortless access to Highway 101, a direct connection to Sonoma County’s renowned wine country and the greater Bay Area. Santa Rosa sits just 17 miles north, while San Francisco is a convenient 40 miles south. Furthermore, the Sonoma-Marin Area Rail Trail Station is only three miles away, offering residents a sustainable mode of transportation.

The Haven at Deer Creek positions residents close to a thriving job market encompassing information technology, healthcare, and a variety of other industries. Additionally, they can enjoy the charm and culinary delights of Petaluma’s highly acclaimed downtown restaurant scene.

“With The Haven at Deer Creek, MBK Rental Living is proud to contribute to the City of Petaluma’s impressive growth and enrich the communities we are developing in,” stated Ken McCarren, President of MBK Rental Living. “This community embodies our ‘With Our World’ philosophy, incorporating sustainable elements like EV charging stations, solar panels, drought-resistant landscaping, and more.”

For more information and to inquire about pre-leasing opportunities, please visit https://havenpetaluma.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 more than 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 LLC., the U.S. real estate development arm of Mitsui & Co., Ltd., a global trading and investment company with a diversified business portfolio. MBK Real Estate’s companies span a wide spectrum of real estate development including apartments, industrial, and their senior housing divisions. With Our World is brought to you by MBK Rental Living, a leader in developing environmentally and socially responsible communities. MBK is on a mission to make apartment living planet-friendly with its comprehensive program which seamlessly blends conscious design with high performance to provide healthier, more comfortable living environments for our residents. 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 Sells Santa Maria Apartment Community Azure

The 318-unit, luxury garden-style property offers next-level amenities and signature  design elements in a growing rental housing market 

IRVINE, Calif. (December 5, 2023) – MBK Rental Living has successfully executed the sale of Azure, a 318-unit, luxury garden-style apartment community in Santa Maria, Calif. The sale represents the highest price per unit in Santa Maria for properties with more than 10 units.

Developed by MBK Rental Living and opened in September 2020, the luxury apartment community consists of 318 studio, one-, two-, and three-bedroom residences ranging in size from 406 square feet to 1,211 square feet. Residents enjoy open floor plans with vaulted ceilings, wood-style flooring, wall-controlled ceiling fans, gas ranges, stainless-steel appliances, quartz countertops, closets with built-in shelves, covered patios with storage rooms, and more. Shared amenities include a modern farmhouse-style clubhouse with an entertainment kitchen, two resort-style swimming pools surrounded by cabanas and a firepit, two spas, traditional and Santa Maria-style barbeque grills, a 24-hour fitness center, futsal sports court, Tesla charging stations, two playgrounds, dog park and pet spa, business center, and more.

Located on approximately 14 acres at 703 E. Meehan Street, Azure is surrounded by nearby shopping including the 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 also benefit from quick access to U.S. Route 101 leading to Santa Barbara, San Luis Obispo, Los Padres National Forest, Solvang, Los Olivos, 14 different wineries, and nearby beaches.

“We are grateful for the opportunity to have developed and leased up Azure in a market with growing demand for move-up rental housing,” said Ken McCarren, President of MBK Rental Living. “With the Santa Maria rental inventory shrinking as previously rented properties are sold to new homebuyers, high-quality apartments like Azure are in high demand. We are pleased to have completed this transaction and to know that Azure will continue to provide a valuable rental option for the community.”

Kevin Green, Joseph Grabiec, and Greg Harris of Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), brokered the sale on behalf of MBK.

“Within a rapidly changing capital markets environment, our ability to source a noncontingent buyer de-risked the transaction significantly and the resulting outcome was mutually beneficial to all parties,” said Kevin Green, Executive Managing Director of IPA.

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 LLC., 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 apartments, industrial, and their 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 Institutional Property Advisors (IPA)

Institutional Property Advisors (IPA) is a division of Marcus & Millichap (NYSE: MMI), a leading commercial real estate services firm in North America. IPA’s combination of real estate investment and capital markets expertise, industry-leading technology, and acclaimed research offers customized solutions for the acquisition, disposition, and financing of institutional properties and portfolios. For more information, please visit www.institutionalpropertyadvisors.com.

 

MBK RENTAL LIVING ANNOUNCES KICKOFF OF PRELEASING AT LUXURY RENTAL COMMUNITY IN MORGAN HILL

Vida Morgan Hill New Luxury Apartments and Townhomes

Surrounded by the Santa Cruz and Diablo mountain ranges, Vida at Morgan Hill offers 389 apartments and townhomes in Silicon Valley 

MORGAN HILL, Calif. (November 15, 2023) – MBK Rental Living, one of California’s most successful and innovative private developers, announced today that pre-leasing is underway at Vida at Morgan Hill, a new, Class-A, 389-unit, three-story residential community. Hard hat tours are being held by appointment.

These one- and two-bedroom garden-style apartments and townhomes offer elevated, everyday living in a Silicon Valley getaway destination.

“At MBK Rental Living, we’re proud to offer residents these beautiful new apartments and townhomes in Morgan Hill, a thriving community in one of the tightest housing markets in the country,” said Ken McCarren, President of MBK Rental Living. “These homes combine the best of Silicon Valley living with close proximity to both San Jose and the natural beauty of the surrounding mountains. We’re confident that this warm, inviting community will be well-received by its new residents.”

Residents will enjoy amenities that include a resort-style pool and spa, cabanas adjacent to the California room, a 24-hour fitness center with dedicated private yoga studio, community parks with play zones and lounge seating, coffee bar, clubhouse with fireplace and homework space, a second-story co-working space with semi-private pods, and entertainers’ lounge with open kitchen layout and double-sided fireplace, all surrounded by drought-tolerant landscaping throughout the extensive outdoor spaces. Each of the amenity spaces were designed to invite residents to indulge in a seamless indoor-outdoor lifestyle.

Located on approximately 19 acres just 20 miles south of Downtown San Jose with ready access to the 101 Freeway and the Morgan Hill Caltrain Station, Vida at Morgan Hill is within a 15-mile radius of some of Silicon Valley’s leading employers including Apple, Netflix, Adobe, Zoom and eBay. Residents will have a short drive to San Francisco and other Bay Area attractions to the north as well as the Monterey Peninsula to the south.

The feeling of the surrounding area is captured in the interior design details that Vida will offer, which centers around a modern Mediterranean theme which includes finishing touches such as Energy Star-rated stainless-steel appliances, wood-style plank flooring, and quartz countertops. Vida readily encourages residents to soak up the good life and aspires to become the place where home becomes the final destination.

“At Vida, we’re targeting LEED Gold certification,” said McCarren. “Vida is a part of our signature With Our World program of environmentally and socially responsible design, which means we’re implementing features that reduce our environmental impact and maximize our residents’ comfort. With this program, we recognize that creating the world we want to live in starts with us. Therefore, as we develop and maintain our communities, we do so with the latest in technology and energy-saving features available to improve the quality of life for our residents and our planet.”

Vida at Morgan Hill is a joint venture of MBK Rental Living and Haseko Corporation. The project partners include architect AO, landscape architect Sitescapes, interior designer Design-Art, and property manager Greystar.

For more information, please visit www.vidamorganhill.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 more than 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., a global trading and investment company with a diversified business portfolio. MBK Real Estate’s companies span a wide spectrum of real estate development including apartments, industrial, and their senior housing divisions. With Our World® is brought to you by MBK Rental Living, a leader in developing environmentally and socially responsible communities. MBK is on a mission to make apartment living planet-friendly with its comprehensive program which seamlessly blends conscious design with high performance to provide healthier, more comfortable living environments for our residents. 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 680,000 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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Esperanza at Duarte Station Garners Prestigious SBID International Design Award

SBID award Esperanza at Duarte Station Winner

November 12, 2023

MBK Rental Living is thrilled to share the momentous news of Esperanza at Duarte Station’s triumph at the esteemed SBID International Design Awards. This recognition marks a significant milestone for our team and solidifies our dedication to developing exceptional living experiences for our residents.

Esperanza Duarte Station New Lux Apartments
Esperanza Duarte Station New Lux Apartments

Earlier this year, we were honored to announce that Esperanza at Duarte Station had been selected as a finalist in the Residential Apartment Americas category. Today, we are overjoyed to reveal that we have emerged as the victor in this esteemed competition!

This remarkable achievement is a testament to the collaborative spirit and unwavering commitment of our entire team at MBK Rental Living, Architects Orange, MJS Landscape Architecture, Principal Real Estate Investors, R.D. Olson Construction, and many more! We extend our deepest gratitude to Design-Art, Grace, and Evan for their invaluable contributions to this project’s interior design, which played a pivotal role in securing this prestigious interior design award.

MBK Rental Living is immensely proud of this accomplishment and remains dedicated to developing communities that inspire.

About SBID International Design Awards

The SBID International Design Awards is a prestigious global competition that celebrates excellence in interior design. Established in 2009, the awards program has become a benchmark for innovation and creativity in the industry. The awards are judged by a panel of internationally recognized experts who assess entries based on their creativity, originality, functionality, and aesthetic appeal. Winners are recognized for their outstanding contributions to the field of interior design.

About Esperanza at Duarte Station

Esperanza at Duarte Station is a new luxury apartment complex located in Duarte, California. The project was developed by MBK Rental Living to provide residents with a sophisticated and stylish living experience. The apartments feature spacious layouts, high-end finishes, and stunning views of the surrounding area. Esperanza at Duarte Station has been recognized for its exceptional design and has received numerous awards. The project was also awarded the 2023 Commercial Real Estate Silver Award.  www.LiveEsperanza.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 more than 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., a global trading and investment company with a diversified business portfolio. MBK Real Estate’s companies span a wide spectrum of real estate development including apartments, industrial, and their senior housing divisions. With Our World® is brought to you by MBK Rental Living, a leader in developing environmentally and socially responsible communities. MBK is on a mission to make apartment living planet-friendly with its comprehensive program which seamlessly blends conscious design with high performance to provide healthier, more comfortable living environments for our residents. 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.

HINES AND MBK RENTAL LIVING ANNOUNCES PLANS FOR RETREAT AT MOUNTAINSIDE, A NEW MULTIFAMILY COMMUNITY IN COLORADO SPRINGS’ BRIARGATE NEIGHBORHOOD

Retreat at Mountainside Hines and MBK Rental Living

November 10, 2023

Class-A Residential Community Will Boast Unobstructed Mountain Views and Prime Location

(DENVER) – Hines, the global real estate investment, development, and property manager, together with MBK Rental Living today announced plans for Retreat at Mountainside, a Class-A for-rent residential community in the Briargate neighborhood of Colorado Springs, Colorado.

Comprised of 284 residences across multiple three and four-story buildings, Retreat at Mountainside will boast permanent, unobstructed mountain views. Floorplans will include one-bedroom, two-bedroom and three-bedroom offerings ranging from 628 to 1,429 square feet. Future residents will have access to an array of outstanding amenities including a well-appointed clubhouse with resort-style swimming pool, contemporary coworking spaces, a fitness center, and a dog park.

“The site for Retreat at Mountainside is particularly appealing due to its location in a high-growth area, offering sweeping mountain views and excellent access to other parts of town,” said Chris Crawford, senior managing director and city head of the Denver office of Hines. “The development will meet the demand for high-quality living options in Colorado Springs. We look forward to seeing this project come to life and are confident that it will enhance the community and lifestyle of its future residents.”

Situated on a 9.7-acre site at the intersection of Briargate Parkway and Powers Boulevard, Retreat at Mountainside will provide convenient access to Briargate’s plethora of shopping, dining and entertainment options. The vibrant and growing neighborhood is known for its family-friendly atmosphere, excellent schools and convenient location in the northern part of Colorado Springs near I-25 and other major highways.

“Retreat at Mountainside represents the epitome of luxury living in Colorado Springs, and we are honored to partner with Hines to bring this community to the market,” remarked Ken McCarren, President of MBK Rental Living. “As a Developer our goal is to provide an exceptional living experience for residents that reflects how people want to live, work, and enjoy life. We are excited about creating a community with Hines where residents will truly feel they have found their dream home.”

Construction is underway and Retreat at Mountainside is slated for completion in 2025.

About Hines

Hines is a global real estate investment, development and property manager. The firm was founded by Gerald D. Hines in 1957 and now operates in 30 countries. We manage a $94.6B¹ portfolio of high-performing assets across residential, logistics, retail, office, and mixed-use strategies. Our local teams serve 790 properties totaling over 269 million square feet globally. We are committed to a net zero carbon target by 2040 without buying offsets. To learn more about Hines, visit www.hines.com and follow @Hines on social media.

¹Includes both the global Hines organization as well as RIA AUM as of June 30, 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 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 LLC., 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 apartments, industrial, and their senior housing divisions. 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 7.1 ACRES IN THOUSAND OAKS, CALIFORNIA FOR MARKET RATE AND AFFORDABLE LUXURY APARTMENTS

Joint venture with Prime Life Technologies to provide 218 apartments to the northwestern part of Greater Los Angeles

IRVINE, Calif. (June 22, 2023) – MBK Rental Living, one of California’s most successful and innovative private developers, has announced the acquisition of a 7.1-acre site in Thousand Oaks, California for a new 218-unit luxury multifamily community. MBK Rental Living is proud to partner on their first apartment joint venture with Prime Life Technologies Corporation, a Japan-based leading home-building company. The project will offer both market rate and affordable residences across multiple two- and three-story buildings, nestled against the Santa Monica Mountains and less than 45 miles from downtown Los Angeles.

“We are elated about this debut community opportunity in Thousand Oaks, which presents an extremely rare chance to live in one of the preeminent Southern California cities known for its high quality of life,” said Ken McCarren, President of MBK Rental Living. “In addition to providing much-needed housing, we are honored to be able to include affordable options in one of the tightest housing areas in the country. We are excited about bringing MBK’s quality and thoughtfully designed apartment living to Thousand Oaks.”

Designed by Pk: architecture with interiors by Design-Art in a modern mission revival architecture-style, the new community will offer studio, one-bedroom and two-bedroom floorplans, with 12 percent of the 218 residences designated as affordable housing.

Of historical note, two structures – a schoolhouse and an auditorium – will be preserved, rehabilitated, and repurposed as the community’s leasing office, co-working space, clubhouse, and children’s lounge. In addition, the planned amenities include a private pool and pocket parks throughout the community. Originally designed in the mission revival architectural style by Roy C. Wilson, the first licensed architect in Ventura County, the Timber School House was constructed in 1924, and the auditorium in 1948. Children of early Conejo Valley ranchers attended the school with the two buildings later being used as Conejo Valley High School. They were designated historic landmarks in 2004 by the Ventura County Cultural Heritage Board and the Thousand Oaks City Council.

“Through this acquisition and investment, we are able to rebuild and bring back to life these two historical structures, relics of one of the oldest remaining public buildings in the Conejo Valley. It is not every day a developer has the chance to make and enhance history on their property,” said Mr. McCarren.

Located at 1872 Newbury Rd. in Thousand Oaks, the new community will provide residents with immediate access to the 101 Freeway connecting to Los Angeles 45 miles to the east and to Malibu on the California Coast only 20 miles to the west. Residents will enjoy convenient connections to the many employment centers, top schools, and retail and restaurant offerings in Thousand Oaks and the surrounding area, as well as outstanding parks and hiking opportunities, including Lake Eleanor Sentinel and Malibu Springs.

“This investment remains consistent with our thesis of expanding into strong markets that have shown consistent growth and with this growth we are honored to partner with Prime Life Technologies. The property acquisition adds strategic synergies to MBK Rental Living’s growing portfolio in California,” said Mr. McCarren. “We remain disciplined when seeking out opportunities, and this acquisition will allow us to diversify further across geographic locations while adding value and maximizing returns to our trusted investors.”

Construction on the apartment community is anticipated to start in Summer 2024, and the grand opening is slated for Winter 2026.

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 be the preeminent lifestyle developer focusing on creating communities that deliver value for their residents, partners, and investors. Throughout its more than 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., a global trading, and investment company with a diversified business portfolio. MBK Real Estate’s companies span a wide spectrum of real estate development including apartments, industrial, and their 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 Prime Life Technologies
Established in January 2020, Prime Life Technologies Corporation was founded with the desire to “Changing the ‘ordinary’ of life “. Our unwavering mission is “to realize a life beyond imagination with technology that opens the way to the future”. By synergizing the housing, urban development, and construction expertise of the five companies within the Prime Life Technologies Group with Toyota Motor Corporation’s mobility technology and Panasonic’s lifestyle update technology as its foundation, we are committed to generating new value for people’s lives across the city. Our collective endeavor is dedicated to fostering a secure living environment while concurrently striving toward the realization of a prosperous community that fulfills the expectations of everyone.

Esperanza at Duarte Station Wins Silver Award

Esperanza Duarte Station New Lux Apartments
2023 Commercial Real Estate Awards: Multi-Family Property
Esperanza at Duarte Station Wins Silver Award
1700 Business Center Dr., Duarte
CRE_silver_award

Developer: MBK Rental Living
GC: R.D. Olson Construction
Architect: AO Architects

Esperanza is a five-story, slab-on-grade type IIIA wood-framed building – 422,184 square feet wrapped around an eight-story 259,087 square foot concrete parking structure. There are 56 different floorplans ranging from a studio to a two-story three-bedroom unit.

Located on the first floor you will find a bodega (communal table and windows seating and TV wall), a cantina (equipped with an entertainer’s island, communal seating, and a coffee station), and a pet spa (indoor facility has a wash and dry stations, complete with leash hooks). There are five outdoor courtyards that include BBQs, fire pits, bocce ball, corn hole, outdoor seating/ lounging, picnic tables, and fruit trees.

Click here to read more. 

MBK RENTAL LIVING AND R.D. OLSON CONSTRUCTION TEAM UP ON 292-UNIT NEW LUXURY APARTMENT COMMUNITY IN DUARTE, CALIFORNIA

Construction is underway at Solana at Duarte Station, slated to open in Summer 2024

IRVINE, Calif. (April 4, 2023) – MBK Rental Living and R.D. Olson Construction announced that construction is underway for Solana at Duarte Station, a new 292-unit five-story luxury apartment community located in Duarte, California on 3.43-acres with an eight-story parking structure. MBK is proud to partner with Haseko Corporation (Haseko) in this second apartment joint venture in Duarte with the company.

Situated only 11 miles from downtown Pasadena and 22 miles from downtown Los Angeles, Solana is a transit-oriented development located along the vibrant interstate I-210 corridor and just steps away from the City of Hope Metro Gold Line Station. Upon completion, it will offer a mix of flats and lofted studios, one-, two- and three-bedroom units, and four-bedroom co-living apartments with each bedroom hosting its own kitchenette. The new wrap-style development, which commenced construction in December 2022, is adjacent to MBK Rental Living’s 4.3-acre site in Duarte, Esperanza at Duarte Station, which celebrated its grand opening in March 2023. Solana is where playful adventure meets a relaxed and bohemian atmosphere, making it the ideal destination for those who seek to exceptional quality and an all-inclusive lifestyle.

“Following the opening of our first apartment development in Duarte, MBK is thrilled to have construction underway on Solana at Duarte Station and bring additional housing to Duarte,” said MBK Rental Living President Ken McCarren. “As we continue to enhance our relationship with Haseko and R.D. Olson Construction, we remain dedicated to MBK Rental Living’s growth throughout California. We look forward to welcoming our first residents toward the end of next year and introducing them to the harmonious blend of relaxing outdoor amenities and contemporary indoor leisure offered at Solana.”

Solana at Duarte Station will exemplify MBK’s thoughtful and active approach to modern living, with a strong emphasis on amenities and spacious exterior gathering spaces. Appealing to a diverse range of renters – from students and families to professionals and empty nesters – the community will include a variety of floorplans. Amenities at the new community will include a fitness center and resort-style pool and spa, a clubroom, and a gathering spot to grab a coffee. Residents will also experience the community’s connection to nature with features like an entertainment alleyway for food trucks and outdoor events, pocket parks, and a linear park spanning the entire length of the community with a dog park and lounge areas.

“With our collaborative approach and fast-track construction expertise, Solana at Duarte Station is well-positioned to evolve with the surrounding area and further enhance the diverse lifestyles of Southern California residents,” said Bill Wilhelm, president of R.D. Olson Construction. “We’re delighted to continue working with MBK Rental Living and feel confident that Solana at Duarte Station will strengthen collective confidence in the region’s housing market.”

The luxury community will offer residents convenient metro access via train and freeway to Pasadena and downtown L.A. to the west, as well as the Inland Empire, prominent universities, and Ontario International Airport to the east. The community’s favorable location is in close proximity to popular retail destinations including Target, Trader Joe’s, and Walmart, while also bridging residents to nearby entertainment hubs, employment centers, and community services including City of Hope, a 120-acre comprehensive cancer treatment center. Historic Route 66 and the time-honored 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 more than 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., a global trading and investment company with a diversified business portfolio. MBK Real Estate’s companies span a wide spectrum of real estate development including apartments, industrial, and their 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 694,000 condominium units throughout Japan since 1968, equivalent to roughly 10% of Japan’s condominium stock.

Haseko Corporation, through a wholly-owned subsidiary company Haseko America, Inc., 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.

About R.D. Olson Construction

Founded by Bob Olson in 1979 and led by President Bill Wilhelm, R.D. Olson Construction commemorates 42 years of building and is one of the top 40 general contracting firms in California. R.D. Olson Construction is a premier builder of hotel and multi-unit properties for several national hoteliers and developers, including Marriott, Hilton, Hyatt, Ritz Carlton, MBK Living, Related Properties and Meta Housing, and has a robust portfolio of renovation projects including Atria Senior Housing, Chapman University’s Reeves Hall, the conversion of the historic Bank of Italy Building into the Nomad Hotel, and more. The firm also has a rich history as a builder of office, retail, restaurant, education, senior living and recreational projects. Learn more at www.rdolson.com.

MBK RENTAL LIVING’S ZIA IS UNDER CONSTRUCTION IN ANAHEIM, CALIF., NEAR DISNEYLAND 

Zia will bring much-needed housing to Orange County where less than 3 in 10 first-time homebuyers can afford to purchase an entry-level home1

Irvine, Calif. (March 27, 2023) – MBK Rental Living, in joint venture with Haseko Corporation, announced that construction is underway at Zia, a five-story wrap-style apartment community located in central Orange County. Offering upscale living with easy access to downtown Anaheim, Interstate 5, and Disneyland, the MBK Rental Living community will comprise 315 apartments offering studio, one-, two- and three-bedroom floor plans ranging from approximately 600 to 1,900 square feet. The grand opening of the community is anticipated for mid 2024.

Located on 5.2 acres at 1600 W. Lincoln in Anaheim, Zia will feature luxury interior finishes and sustainable elements including quartz countertops, stainless-steel appliances, distinctive wood-style plank flooring, and large-scale precision windows. The thoughtfully designed community will feature amenities such as a 4,900-square-foot, two-story fully equipped fitness center with children’s lounge area with Wi-Fi; pool with grill, bar area, spa, and cabanas; entertainment and Zen courtyards; game lounge with duckpin bowling – a fun variation on the standard ten-pin bowling game; co-working office space with podcast rooms; walking path with outdoor fitness equipment; basketball court; dog spa; and a park.

 “An apartment community of this caliber is in high demand given the strong employment fundamentals and high barriers for entry into home ownership in Orange County,” said Ken McCarren, President of MBK Rental Living. “The fact that first-time homebuyer affordability declined from 41 to 29 percent2 in just two years paints a clear picture of the county’s affordability crisis. Zia will attract a wide range of residents from all over Orange County who are seeking a place of belonging and a connection with the local community.”

 Located only a mile west of downtown Anaheim and a mile north of Disneyland, Orange County’s largest private-sector employer; Zia will offer residents the opportunity to “live full circle” with its high-quality confluence of culture, entertainment, sports, fantasy, and enterprise. Residents will easily connect to Interstate 5 as well as to businesses catering to daily needs and the area’s many dining, entertainment, and cultural destinations, including Anaheim’s Packing District, John Wayne Airport, UCI Medical Center, California State University, Fullerton, and the University of California at Irvine, the county’s second largest employer.

MBK is proud to partner with Haseko Corporation in its third apartment joint venture with the company. Zia is designed by AO Architects, landscape is designed by Sitescapes and the interior design by Design-Art.

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

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 more than 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., a global trading and investment company with a diversified business portfolio. MBK Real Estate’s companies span a wide spectrum of real estate development including apartments, industrial, and their 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 Mitsui & Co., Ltd.

Mitsui & Co., Ltd. (8031: JP) is a global trading and investment company with a diversified business portfolio that spans approximately 64 countries in Asia, Europe, North, Central & South America, The Middle East, Africa and Oceania.

Mitsui has over 5,600 employees and deploys talent around the globe to identify, develop, and grow businesses in collaboration with a global network of trusted partners. Mitsui has built a strong and diverse core business portfolio covering the Mineral and Metal Resources, Energy, Machinery and Infrastructure, and Chemicals industries.

Leveraging its strengths, Mitsui has further diversified beyond its core profit pillars to create multifaceted value in new areas, including innovative Energy Solutions, Healthcare & Nutrition and through a strategic focus on high-growth Asian markets. This strategy aims to derive growth opportunities by harnessing some of the world’s main mega-trends: sustainability, health & wellness, digitalization and the growing power of the consumer.

Mitsui has a long heritage in Asia, where it has established a diverse and strategic portfolio of businesses and partners that gives it a strong differentiating edge, provides exceptional access for all global partners to the world’s fastest growing region and strengthens its international portfolio.  For more information on Mitsui & Co’s businesses visit, www.mitsui.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 694,000 condominium units throughout Japan since 1968, equivalent to roughly 10% of Japan’s condominium stock.

Haseko Corporation, through a wholly-owned subsidiary company Haseko America, Inc., 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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1-2 Source: 2022-2023 Orange County Community Indicators Report

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