Market Adjustments Generate New Partnership Between MERIT Rental Property Management and East West Bancorp
March 08 2010 - 3:42PM
Marketwired
As banks begin to see residential and multifamily markets adjust
from less buying to more renting, MERIT Rental Property Management
announces that East West Bancorp entered into its first contract
with MERIT to manage a multifamily apartment complex. MERIT Rental
Property Management, a leading provider of professional
single-family rental and apartment management services, continues
to partner with financial institutions to provide rental management
expertise that can maximize property values in today's economy.
"We are excited to embark on this partnership with East West
Bancorp for our management of Park Terrace, a 50-unit multifamily
apartment complex located in Rialto, California," says Stephan
Brahs, Vice President of MERIT Rental Property Management.
The contract calls for full rental property management services
including assisting with daily operations, community maintenance,
rent collection, delinquency oversight and tenant placement. In
addition, MERIT Rental Property Management offers Park Terrace
residents a Customer Care Center, which provides an in-house,
fully-staffed team dedicated to personally answering residents'
questions.
"I look forward to supporting the residents of Park Terrace with
MERIT Rental Property Management's personalized approach to rental
management services and also to building a portfolio with East West
Bancorp," says Brahs.
MERIT Rental Property Management MERIT
Rental Property Management (www.meritrental.com), headquartered in
Aliso Viejo, CA, specializes in the rental management of
multifamily apartments, single-family home/condominiums, active
adult and urban high- and mid-rise communities. MERIT Rental
Property Management expands on the 30 year reputation of
demonstrated successes by MERIT's property management experience.
Over 500 dedicated employees in eleven regional offices throughout
California currently support more than 300 communities representing
over 250,000 units. MERIT (www.meritpm.com) is a part of
FirstService Residential Management, which manages over 3,700
communities encompassing more than one million homes/units.
FirstService Residential Management is a subsidiary of FirstService
Corporation (NASDAQ: FSRV).
East West Bancorp East West Bancorp
(NASDAQ: EWBC) is a publicly owned company with $20.6 billion in
assets and is traded on the Nasdaq Global Select Market. The
Company's wholly owned subsidiary, East West Bank, is the third
largest independent commercial bank headquartered in California
with 135 branches worldwide. For more information on East West
Bancorp, visit the Company's website at www.eastwestbank.com.
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Amy Sarti MERIT (800) 428-5588 x6168 asarti@meritpm.com
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