January 12, 2010 18:35 ET

SARES REGIS Group Seeks to Develop 11 Acres in Huntington Beach With Luxury Apartments, Retail

IRVINE, CA--(Marketwire - January 12, 2010) - SARES REGIS Group has reached an agreement to lease and redevelop a former furniture showroom site in the city of Huntington Beach. The tentative concept for the 11-acre site envisions a mixed-use retail and luxury apartment home community.

The site is at 7441 Edinger Avenue and is adjacent to recently renovated Bella Terra, a 48-acre open air mall containing restaurants, shops and a 20-screen megaplex theater which would provide future residents of the project with excellent access to shopping and entertainment, said Bill Montgomery, president of SRG's Multifamily Acquisition & Investments Division.

Montgomery said the company and city are in discussions regarding entitlements for the parcel, which will be developed in the Town Center Core and Neighborhood segments of the new Beach and Edinger Corridors Specific Plan in process with the city.

"We are very excited by the prospect of bringing a new luxury apartment home community to the City of Huntington Beach. The city's concept as outlined in the Beach and Edinger Corridors Specific Plan is truly visionary and will position Huntington Beach for new and revitalized growth in the years to come," Montgomery said.

SARES REGIS Group is no stranger to the city, having completed the conversion and successful sell-out of the Seabridge Condominium community on Beach Boulevard in 2004.

SARES REGIS Group is one of the leading developers and managers of commercial and residential real estate in the western United States. Currently, the company has more than 4 million square feet of commercial industrial in the entitlement process and 1,962 residential units in pre-construction and development. SARES REGIS Group has a combined portfolio of property and fee-based assets under management valued at more than $4 billion, including 15 million square feet of commercial and industrial space and 16,656 rental apartments. Since its inception the company has acquired or developed approximately 44 million square feet of commercial properties and 19,000 multifamily and residential housing units. For more information, go to

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