Legacy Partners and Resmark Joint Venture to Develop Apartment Project in Prime Downtown San Diego Location

Marina District Apartments Offer Location Walkable to Downtown Businesses, Transit, Shopping, Dining and sports facilities

SAN DIEGO (August 16, 2016)— Legacy Partners, a privately owned national real estate firm, is partnering with leading private equity firm The Resmark Companies to build 168 apartments in the highly desirable Marina District of downtown San Diego. Located at 372 4th Avenue adjacent to San Diego Bay, the five-story residential building will be comprised of studio, one- and two-bedroom apartments, all with premium kitchens, finishes and appliances.

“This living space is smart, and designed specifically for progressive people seeking efficient, friendly space in the heart of the City,” said Tim O’Brien, senior managing director of Legacy’s Southwest Region.

“It's rare to find such a desirable setting in the Marina district, which enjoys a solid mix of condos, townhomes, and older apartment buildings,” said Ziv Cohen, president, Resmark Apartment Living.

The project's striking design by San Diego architects, Carrier Johnson+CULTUR3 includes a contemporary façade punctuated by glass garden terraces, indented balconies and floor to ceiling windows. Community amenities include a spacious clubhouse, two courtyards, a pool, spa, fire pits and outdoor seating. Two large decks atop the building offer 360-degree views spanning from downtown to the Pacific Ocean. An expansive glass box atop the northeast corner houses the fitness center with an attached loft, and creates a focal point on the skyline.

The building also will have 1,300 square feet of ground level retail at the southwest corner of 4th Avenue and J Street, as well as a secure garage entrance on 4th Avenue.

Construction on the Marina District project is expected to start in summer 2017 with first apartment occupancies projected for summer 2019.

This is the second multifamily joint venture development between Legacy Partners and Resmark Apartment Living. The first, The Hadley, is located in Mercer Island, WA. 

About Legacy Partners
Legacy Partners, a privately held real estate firm founded in 1968 and headquartered in the San Francisco Bay area, owns, develops and manages multifamily communities throughout the United States. We have regional offices in California, Colorado, Texas, and Washington and have developed more than 65,000 apartment homes in Arizona, California, Colorado, Nevada, Oregon, Texas and Washington. Since our inception, we have worked with some of the world’s largest financial institutions, life insurance companies, and real estate companies, consistently returning exceptional results.

In addition to development, Legacy Partners provides management services for our own portfolio, as well as other owners. Combined, we manage a portfolio of over 60 multifamily communities with more than 14,000 apartment homes, and with a gross value in excess of $2 billion. For further information, please visit legacypartners.com

About Resmark Apartment Living and The Resmark Companies
Founded in 1995, Resmark is a fully integrated real estate investment group. The Resmark Companies' divisions—Resmark Land and Housing, Resmark Apartment Living and Resmark Impact Ventures—finance, acquire, develop and manage real estate in California, the Western United States, D.C./Mid-Atlantic region, and other select major metropolitan markets nationwide. To date Resmark has participated in more than 200 investments encompassing approximately 30,000 single-family and multifamily residential units, and has committed approximately $3 billion of capital. Headquartered in Los Angeles, Resmark also maintains offices in San Diego and Irvine, California and McLean, Virginia. For additional information, please visit www.Resmark.com

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