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November 26, 2015 8:30 AM ET

Capital Markets

Company Overview of Legacy Partners Residential, Inc.

Company Overview

Legacy Partners Residential, Inc. is a real estate investment firm specializing in acquiring, developing and managing multifamily communities. It seeks to invest in commercial and residential real estate. Legacy Partners Residential, Inc. was founded in 1968 and is based in Foster City, California.

4000 East Third Avenue

Suite 600

Foster City, CA 94404-4805

United States

Founded in 1968





Key Executives for Legacy Partners Residential, Inc.

Chief Executive Officer, Member of Investment Acquisition Committee, and Member of Management Committee
Age: 69
Age: 55
Chief Financial Officer
Compensation as of Fiscal Year 2015.

Legacy Partners Residential, Inc. Key Developments

KBS Legacy Partners Watertower LLC Enter into Property Management Agreement with Legacy Partners Residential, Inc

On April 7, 2015, KBS Legacy Partners Watertower LLC (the Owner) entered into a property management agreement with Legacy Partners Residential, Inc. (LPR), pursuant to which LPR will provide, among other services, general property management services, accounting services and budgeting and business plans with respect to Watertower Apartments. Under the Property Management Agreement, the Owner will pay LPR: (i) a monthly fee in an amount equal to 2.75% of Watertower Apartments' Gross Monthly Collections, (ii) a construction supervision fee equal to a percentage of constructions costs for certain major repairs or improvements to the Watertower Apartments overseen by LPR, (iii) a leasing commission at a rate to be agreed upon between the Owner and LPR for retail leases executed that were procured or obtained by LPR and (iv) certain reimbursements if included in an approved capital budget. Unless otherwise provided for in an approved operating budget, LPR will be responsible for all expenses that it incurs in rendering services pursuant to the Property Management Agreement. The Property Management Agreement has an initial term of one year and will continue thereafter on a month-to-month basis unless either party gives 30 days' prior written notice of its desire to terminate the Property Management Agreement. Notwithstanding the foregoing, the Owner may terminate the Property Management Agreement at any time without cause upon 30 days' prior written notice to LPR. The Owner may also terminate the Property Management Agreement with cause immediately upon notice to LPR and the expiration of any applicable cure period. LPR may terminate the Property Management Agreement at any time without cause upon 60 days' prior written notice to the Owner.

Legacy Partners Residential Names David Eichler as Senior Managing Director and Partner for Bay Area

With an eye toward expanded multifamily opportunities in its home area, Legacy Partners Residential, Inc. has brought on real estate veteran David Eichler as senior managing director and partner for the Bay Area. Eichler brings to his new position extensive knowledge gained through more than 30 years in the multifamily arena, including public/private partnerships, redevelopment opportunities, senior housing, and ground-up development. Eichler's previous experience encompasses Northern California and the Pacific Northwest, the Washington, D.C. region and the New York Tri-State area.

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