FOR IMMEDIATE RELEASE
Priority List Being Generated as The Kor Group Begins Pre-Leasing for 89 Luxury Apartments This May
SANTA BARBARA, CA (March 17, 2016) – The first new multi-family residential community to be built in Santa Barbara in close to 30 years is now underway with pre-leasing beginning in May for modern luxury apartments with designer finishes and unique indoor-outdoor amenities at The Marc.
Now under construction on State Street between S. Hope Avenue and South La Cumbre Road, the $40 million development is being completed by a partnership between Los Angeles-based The Kor Group, Santa Barbara-based REthink Development and certain affiliates of Westport Capital Partners LLC. Kor is well known for creating the Viceroy Hotel brand and the new Proper Hotel brand, as well as the iconic Eastern Columbia, Barker Block and Pegasus residential developments in L.A. and other one-of-a-kind lifestyle experiences. REthink Development complements the team with their expertise in sustainable infill projects.
Eighty nine one-, two- and three-bedroom residences will range in size from 613 to 990 square feet with modern, open living spaces with designer selected finishes, oversized windows, spacious closets, stainless steel energy efficient kitchen appliances and gas stoves, quartz kitchen and bathroom countertops, in-home washer and dryer and private patios with balconies for seamless indoor-outdoor living. Advanced technology and security features include pre-wiring for high-speed communications, keyless entry doors, an electronic-access controlled building, video monitored security and complimentary Wi-Fi throughout all amenity areas.
“We’re excited to share a first glimpse of the unique lifestyle that future residents of The Marc will enjoy upon completion of the building this August,” said Brian De Lowe, President and Principal of The Kor Group. “The Marc offers Santa Barbara residents the opportunity, for the first time in several decades, to lease in a luxury community that combines a coveted State Street Santa Barbara address with all the benefits of new construction, including designer finishes, modern indoor-outdoor amenities, and the latest in technology advances. These unique features, coupled with stunning Santa Ynez Mountain views and convenient boutique ground-floor retail, make The Marc the premiere opportunity for residents looking to live a truly active, connected and cultured lifestyle.”
Situated on 1.4 acres, The Marc will be the only luxury residential community of its kind in Santa Barbara with resort-style amenities that include a pool, spa and spacious landscaped sundeck; green rooftop retreat with seating areas and stunning views of the Santa Ynez Mountains; scenic community garden; resident lounge with a kitchen island, seating-work areas and flat-screen television; three outdoor themed courtyards with lush landscaping, intimate seating/dining nooks, fire pit, bocce ball and horseshoe courts and community garden beds and a state-of-the-art fitness center with scenic views of the pool. On-site retail will be located on the ground floor of the four-story building offering ease and convenience for residents.
Located on the coveted State Street and steps to endless dining, shopping, entertainment and outdoor recreations, The Marc will be among the most sophisticated and high-end rental communities in Santa Barbara.
A priority list is currently being generated and pre-leasing begins in May. Completion of the building and resident move-in is slated for September. For more information and to register, visit www.livethemarc.com or call 424-244-1729. The Marc is located at 3885 State Street.
About The Kor Group
The Kor Group is an international real estate investment and management company with extensive holdings and development experience in commercial real estate properties. Since its inception in 1999, Kor has acquired and developed hospitality, residential, and office assets valued in excess of $2.5 billion. Central to Kor’s investment strategy is value creation through distinctive design and branding. By fusing creative design with an agile investment and development discipline, Kor has amassed a portfolio of high performing assets and has built a signature brand translatable across its properties. Kor has acquired, repositioned and managed over 14 million square feet of residential, mixed use, hotel, commercial office and retail space. Kor has over $1 billion in active developments – 1.4 million square feet in the acquisition, development, or construction stage, including ground-up development, value-add repositioning, and adaptive reuse. For more information, visit: www.thekorgroup.com.
About REthink Development
REthink Development is an award winning innovator in sustainable real estate development. Every REthink project evolves from the unique site context including environmental, historic, cultural/social and market influences. By integrating an ownership perspective with the knowledge and experience in contextual development REthink achieves sustainable buildings with superior economic performance and value. For more information, visit: www.rethinkdev.com
About Westport Capital Partners LLC
With CALGreen state-of-the-art new construction, The Marc will incorporate dual-pane, Low-E, energy- saving insulated glass, energy efficient LED lighting, tankless water heaters, Low VOC paint throughout and controllable energy-efficient heating and air conditioning. Additional conveniences include secure underground assigned parking, bike storage and electric vehicle charging stations.
Westport Capital Partners LLC is a real estate investment firm which provides domestic and international real estate related investment opportunities to institutional and private clients. Through its various funds, the firm invests in a wide variety of distressed, opportunistic and core plus real estate assets. The firm has offices in Los Angeles, California, Wilton, Connecticut and London, England. For more information regarding Westport Capital Partners LLC, please visit westportcp.wpengine.com.
For more information,
contact: Jan Bracamonte (J. Lauren PR) firstname.lastname@example.org, 480-540-3842.