DEMAND MOUNTS FOR NEW URBAN HIGH-RISE CONDOS IN DOWNTOWN.
Leading West Coast condominium sales and marketing company Polaris Pacific is expanding its presence in Los Angeles to keep pace with the growing demand for new, high-quality construction projects in the city’s top urban neighborhoods such as downtown and Hollywood. The firm, which specializes in selling urban-core high-rise condominiums and creating unique marketing campaigns led by market specific experts, has opened a new office in downtown Los Angeles and hired new executives to support the company’s burgeoning growth. Best known for its sales success at TEN50, the first new construction condo tower to open in downtown in nearly a decade, Polaris Pacific has also been enlisted to spearhead sales and marketing for two new high-profile condominium projects downtown located at 1150 Wilshire Boulevard and 1133 South Hope Street.
According to their recent research report, the ever-growing demand for new construction condominium product in downtown Los Angeles continues to exceed available supply. While more than 8,000 rental units are slated to hit the Los Angeles market this year, only 2,113 condominiums are currently approved or under construction in downtown.
“The sales success we’ve experienced to date at TEN50 is a clear indication that the market is primed for continuous growth as more homebuyers realize the tremendous value of urban walkable neighborhoods positioned close to jobs and entertainment,” said Managing Partner Garrett Frakes. “With no signs of the market slowing down, it was natural for us to decide to expand our leadership team and presence in order to maintain an extraordinarily high level of customer service.”
Vice President, Regional Manager Mike Akerly will oversee the company’s portfolio and continued strategic growth in Los Angeles, while new team members, Project Director Christina Milovancev and Marketing Director Kara Schultz, will be tasked with supporting sales and marketing efforts for the region. Rachel Weaver, New Business Development Manager, has also been tapped to move from the company’s San Francisco office to help grow the Southern California portfolio.
Christina Milovancev previously worked in London as Director of Residential Marketing for CBRE and Head of Marketing for Mount Anvil, one of the leading residential development firms in Central London, where she led marketing efforts for some of London’s most influential residential communities.
Kara Schultz’s background includes 10 years with Pandiscio in New York City, a strategic branding and marketing agency, and RFR Holding, a privately held real estate investment, development and management firm. She has also held a variety of sales and management positions with The Four Seasons Residence Club in Costa Rica.
“Downtown Los Angeles has become a focal point for technology, media, finance and even a new residential destination for families,” added Mr. Akerly. “As we take on new high-profile condominium projects in downtown Los Angeles, our enhanced footprint in this market will be a tremendous benefit to our developer clients who rely on us for our unparalleled market expertise and proven sales and marketing capabilities.”
Polaris Pacific’s new Los Angeles office is located at 777 South Figueroa in downtown Los Angeles.