Prometheus Real Estate Group Expands in Pacific Northwest

May 27, 2011

Prometheus adds three properties to portfolio totaling 810 units in third-party management to Seattle region

YAHOO Finance — Prometheus Real Estate Group Inc., the largest private owner of multi-family properties in the San Francisco Bay Area, continues to expand its Pacific Northwest portfolio. Three new fee managed assets in the Puget Sound region of Washington, all owned by Berg Holdings, are now part of Prometheus’ roster bringing its Pacific Northwest region unit count to close to 4,500 units and overall unit count to over 19,000.

Located in Kirkland, Washington, Villaggio is a luxury waterfront 292 unit community. Dramatic city views, an unparalleled set of amenities including marina access, and surrounding fitness trails help round out the waterfront property. Villaggio’s amenities include a clubhouse, movie theatre, fitness and yoga center, business center, pool and spa, tennis courts, and sand beach volleyball court.

Yarrowood Highlands Apartments feature two and three bedroom apartment homes, located close to Downtown Bellevue and major eastside employers. Yarrowood has easy access to public transit, parks, and some of the best schools in the region.

Keeler’s Corner Apartments are located in Lynnwood, Washington, near the recently renovated Alderwood Mall and Boeing headquarters. The amenities at Keeler’s Corner include a clubhouse, fitness center, business center, two pools (indoor and outdoor), spa, clubhouse, theater room, yoga/Pilates studio, indoor basketball court, and conference room.

“Our entire team is extremely excited to work with Berg Holdings and take over management for these top-flight assets that complement our existing Pacific Northwest portfolio,” said Pat Calihan, Director of Acquisitions. “We’re planning to implement a number of proven strategies that will positively position these properties in a market already showing strong signs of recovery.”

About Prometheus

Since its inception in 1965, Prometheus Real Estate Group has specialized in the development and management of high quality residential properties throughout the Western United States. Today, they are the largest private owner of multi-family properties in the San Francisco Bay area with a growing portfolio of more than 18,000 metropolitan area apartments in Seattle, Portland, OR and Los Angeles. Recognition includes:

  • 2011 NAHB Best Property Management Company of the Year
  • 2010 MHN Best Property Management Company of the Year
  • Three Gold Nugget Awards & One Grand Award from the Pacific Coast Builder’s Conference
  • First Place in Customer Service and Experience from For Rent Magazine
  • Californian Landscape Association Trophy Award
  • Portland Advertising Federation Rosey Award
  • Multi-House News Design Excellence Award

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SOURCE Prometheus Real Estate Group