San Diego-based Sunrise Management – a multifamily industry leader, which has specialized in the management of residential real estate since 1978 – has been reaccredited by the Institute of Real Estate Management (IREM®) as an Accredited Management Organization (AMO®). Part of an exclusive group of real estate management companies world-wide that have met the rigorous requirements necessary to earn this distinction, Sunrise Management has held the prestigious AMO® designation since 1997. 

“We are honored to be awarded the AMO reaccreditation, the premier recognition of excellence given to property management firms,” said Theresa Cordero, president of Sunrise Management. “This designation is a testament to the perseverance, diligence and hard work of our staff, as well as to our firm’s steadfast commitment to quality and integrity.”

According to Cordero, this important certification sets the standard in property management excellence for firms of all sizes and is also about ethical best practices – building trust among building owners and investors while providing clear evidence that Sunrise has been subject to stringent review by a recognized third party.

AMOs demonstrate strong financial performance, outstanding leadership and adhere to a code of professional ethics strictly enforced by IREM to maintain integrity beyond reproach. Additionally, accreditation as an AMO requires firms to follow best practices in real estate management, demonstrating they meet standards and functions related to operations and service. 

IREM introduced the AMO accreditation for property management firms in 1945, setting a high standard for firm conduct and client service. Today, out of the thousands of property management firms worldwide, there are just 500 AMO accredited firms.

Construction on Kelvin, a 66-unit contemporary mixed-use community at 7950 Broadway in Lemon Grove, is nearing completion, bringing much needed housing to a rapidly growing San Diego County neighborhood.

Owned and developed by LLJ Ventures and Citymark Development, project is now under management by San Diego-based Sunrise Management – with pre-leasing underway. Slated for completion the first week of March, move-ins begin on March 16th.  

According to Theresa Cordero, president of Sunrise Management, which has specialized in the management of multifamily properties since 1978, Kelvin is characterized by angular modern architecture masterminded by Studio E Architects with a distinctive bright yellow exterior. The community is situated on the site of a former Barry’s Athletic Supply store, which operated there for 25 years until it relocated to another Lemon Grove location.

In addition to 4,043 square feet of first level commercial space, Kelvin is comprised of studio, one- and two-bedroom homes ranging from 523 to 1,058 square feet. The five-story community is situated on a 0.92-acre lot at the corner of Broadway and Grove St., a local hub for dining, shopping and entertainment. The community also offers close proximity to the 94 and 125 freeways and the Lemon Grove Trolley Station. 

Outfitted with contemporary designer finishes and amenities, Kelvin features a rooftop terrace, a game room, a resident lounge, a state-of-the-art fitness center and private resident parking. Apartment homes offer abundant natural light and are masterfully appointed with wood-style flooring and plush carpeting. Each home has a full-size stackable washer and dryer and kitchens equipped with modern stainless steel appliances and quartz countertops, as well as hood-mounted microwaves. Select units feature breakfast bars, walk-in closets, private balconies and en-suite bathrooms. Monthly rents will range from $1,950 to $3,600.

“Kelvin is a dynamic addition to Lemon Grove, which has rapidly evolved from a sleepy agricultural town known for its citrus groves into a thriving suburban community,” Cordero said. “Sunrise is thrilled to oversee the lease-up and day-to day-management of this vibrant project.”

More information is available at https://www.kelvinliving.com.

Adding much-needed urban-style apartments to the region, Deacon Development is nearing completion on three new Portland and Salem, Oregon-area multifamily communities – Rivenwood, Merx and Paceline – tapping CloudTenResidential to oversee all lease-up and management activities. CloudTen now manages over 36 properties throughout Oregon and Washington – three of them owned by Deacon Development. 

According to Dennis Mitchell, senior vice president of CloudTen Residential, these properties represent an ongoing partnership between Deacon Development, a Portland-based real estate development firm and CloudTen, a Nevada firm that manages and operates multifamily properties throughout the west. 

“In total, these projects will provide 352 units to the greater Portland and Salem areas, filling a growing need for housing in the region,” Mitchell said. “Each is a key addition to the community – and to our expanding portfolio. We are proud to partner with Deacon Development to help provide quality rental housing in walkable, transit-oriented neighborhoods.”

Highlights of the new properties include:

Merx

Located at the corner of 19^th and Pettygrove in northwest Portland’s Slabtown, Merx is a seven-story mixed-use project comprised of 126 studio and one-bedroom apartments, ranging from 297 to 453 square feet. Units feature a blend of contemporary design with custom casework, offering both style and functionality. Originally the site of a Sylvia’s Grocery which opened in 1884, Merx (short for mercantile), pays homage to the neighborhood’s rich history rooted in service. Merx will encompass a resident lounge, coffee bar, private outdoor terrace and rooftop deck with sweeping city views as well as ground-floor retail. The name – Merx – is Latin for merchandise that is bought and sold and is an homage to the site’s retail beginnings. Pre-leasing is slated for February 2024 with units ready for move-in late April 2024.

Paceline

Located at 1341 N. Killingsworth St. in Portland’s Overlook neighborhood, Paceline stands five stories with 69 studio and one-bedroom apartments, spanning 350 to 460 square feet. A community of apartments in North Portland where residents, neighbors and friends come together in a space designed for convenience and comfort, its name is a nod to the region’s connectivity, spawned by access to Portland’s MAX Yellow Line, bike lanes, greenways and multi-use paths. Apartment homes include in-home washers/dryers, custom casework, quartz countertops and expansive windows, while amenities encompass package lockers, bike parking, a rooftop deck and more. Construction is set for completion in June 2024. 

Rivenwood

Featuring 157 studio, one- and two-bedroom apartments ranging from 370 to 849 square feet – as well as on-site parking, a resident lounge and large rooftop deck with BBQs, outdoor games and more – Rivenwood is a five-story, wood-framed structure located on the site of a former Nordstrom store at 420 Center St. NE in downtown Salem. Inspired by the industrial history of the region’s saw mills and the timber industry, the name Rivenwood is a subtle nod to a city strengthened and reinvented through public and private partnership. Rivenwood’sapartment homes feature stainless steel appliances, quartz countertops, in-home washers and dryers and balconies in select units along with EV parking, bike storage, package lockers, a coffee and tea lounge and pet wash. Pre-leasing is slated for spring 2024, with units ready for move-in summer 2024.

With these newest additions to its portfolio, CloudTen now manages 70 properties totaling 500 units throughout Arizona, Nevada, Oregonand Washington. 

San Diego-based Sunrise Management – a California-focused property management firm – has announced the promotion of longtime company executive Theresa Cordero to president.

Cordero, who has worked for Sunrise since 1991, was elevated to president from the position of chief operations officer and will continue to handle all day-to-day operations and business strategies for the company, which has specialized in multifamily real estate since 1978. During her tenure with the firm, she has worked her way up the ranks from regional property manager to her current position, now overseeing more than 350 employees and a portfolio of 170 properties throughout California. 

According to Joe Greenblatt, Sunrise’s founder and chief executive officer, Cordero is well deserving of this latest promotion and has played an instrumental role in the ongoing growth and success of the company.

“In 2022 we redefined Sunrise’s mission, focusing exclusively on the opportunities and meeting the distinctive challenges associated with managing multifamily properties in California,” he said. “A key member of our team for 33 years, Theresa is uniquely qualified to lead the development and implementation of business strategies that will advance our goals. She has the ability to identify top talent and support other leaders and has skillfully moved our company ahead with forward-thinking technology and industry best practices. Her promotion to president is a testament to her outstanding leadership and vision. With her extensive experience in the industry and proven track record of success, we have no doubt that she will continue to lead Sunrise to even greater heights.”

Licensed as a real estate agent in California, Cordero studied business administration at Southwestern College and is a candidate for the Institute of Real Estate Management’s Certified Property Manager (CPM) designation. She is a member of the Southern California Rental Housing Association and the National Apartment Association. 

Roxanne Bortvedt has been named regional manager for the Portland office of CloudTen Residential, a newly-formed firm that manages and operates multifamily properties throughout the Western U.S. 

According to Melissa Deen, president of CloudTen, in her new role Bortvedt is responsible for supervising multiple employees as well as a range of multifamily properties throughout the Pacific Northwest region. “Roxanne has a strong track record in the region and takes charge of overseeing property and asset management functions in our Portland office, focusing on bolstering property values as well as increasing market share in the Pacific Northwest region. We are thrilled to have her join our team,” Deen said. 

With an impressive industry track record, Bortvedt has nearly 10 years of multifamily and commercial property management experience. Prior to joining CloudTen Residential, she was a portfolio manager for Income Property Management in Oregon and Washington where she oversaw over 1000 units and specialized in conventional property management. She served in the same capacity for Portland-based Bristol Urban Apartments, overseeing a large portfolio of multifamily, commercial and mixed-use projects. She began her career at Carla Properties LTD in Portland where she worked her way up the company ranks to assistant portfolio manager. 

She holds a bachelor’s degree in communication from Oregon State University and also attended Portland State University. 

CloudTen Residential was recently launched as a technology-centric, more nimble multifamily management firm and has a rapidly growing portfolio with 60 properties totaling over 7,000 units throughout Arizona, Nevada, Oregon and Washington.

Following the $37.4 million sale of the luxury multifamily community The Warwick – a newly renovated Class A project in San Diego’s vibrant Hillcrest neighborhood – San Diego-based Sunrise Management has taken over its day-to-day management. Previously a hotel, the 80-unit apartment community, distinguished by a bright turquoise stripe on the front of the building, is adjacent to Scripps Health Mercy Hospital at 606 Washington St.

Now boasting a wide array of high-end amenities – including a resort-style pool, a sun deck with cabanas, a top-of-the-line fitness center, technology-enabled package lockers, an enclosed dog run, LATCH keyless entry and an outdoor social lounge – The Warwick was converted from a hotel into apartments in 2017. Operating as Sommerset Suites Hotel for 20 years, it was originally constructed in 1986 as apartments. The property was sold late last year by SENTRE to Spectrum Partners. Fully modernized apartments are now available in a mix of studio, one-bedroom and two-bedroom floor plans with private terraces.

“We are proud to oversee day-to-day management of this longtime San Diego community, an appealing and upscale example of the growing trend toward apartment conversions,” said Theresa Cordero, chief operations officer at Sunrise Management. “The community also fills an important and growing need for highly amenitized, centrally located urban living.”

In recent months, Sunrise has added 18 multifamily communities totaling 1,100 units to its growing portfolio of California multifamily properties, among them: Avaz Pacific Beach, Arte Rancho Cucamonga, Arte West Santa Ana, Lakeshore Villa Apartments in Lakeside, El Cajon’s Madison Court Apartments, Elivia Apartments in San Diego’s Clairemont neighborhood and The Courtyard in El Centro.