Walnut Creek, California (EastBayDaily) — Sequoia Equities, Inc. announces the acquisition of ICIS Apartment Homes & Villas, a 200-unit, A+ apartment community in Glendale, California. ICIS is a five-story, podium-style building with a total of 200 units, a tri-level partially subterranean parking structure, and 8,274 square feet of retail space along heavily trafficked Colorado Street. The community, which boasts a walk score of 89, is located within easy walking distance of Downtown Glendale and is situated between four of Los Angeles County’s largest employment centers, including downtown Los Angeles, Hollywood, Pasadena and Burbank.
This marks the first purchase of the year for the privately held real estate investment company, which operates a portfolio of more than 12,000 units throughout California, Nevada, Oregon, and Washington. Sequoia’s Director of Acquisitions Pat Reilly said, “The uniqueness of the property’s boutique hotel design and its customer-focused intent was appealing.” The amenity-laden building includes a resident’s club, business center, infinity pool with spa, Zen garden with cabanas, body salon (fitness center), three rooftop decks offering mountain and skyline views, electronic game room, and private pet walking trail. Each space offers a, “distinct ambiance that would be difficult for another developer to duplicate” says Reilly.
While ICIS’ common area amenities are a major point of distinction, the apartment interiors are not to be overlooked. Appointments include wood plank-style flooring, granite/Caesarstone/marble countertops, upgraded cabinetry, stainless steel appliance package, oversized tubs, walk-in closets, and full-size stacked washers and dryers. The developer, spared no expense to build the project. Located within walking distance of world-class destination lifestyle center, Americana at Brand, the community is unmatched in its ability to deliver a luxury-urban residential experience.
The apartment community was purchased in September and has since been renamed as BRIO. Sequoia Equities, Inc. will provide the operational management services for the property.