SOURCE: MERIT Rental Property Management

MERIT Rental Property Management

March 08, 2010 15:42 ET

Market Adjustments Generate New Partnership Between MERIT Rental Property Management and East West Bancorp

MERIT Rental Property Management Secures First Contract With East West Bancorp for a Multifamily Complex

ALISO VIEJO, CA--(Marketwire - March 8, 2010) -  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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