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Pacific Property Launches New Initiative

PINOLE, CA-Pacific Property Co. of Palo Alto has purchased a 42-unit apartment complex here as the first acquisition in a new plan to own smaller apartment communities in infill locations throughout the Bay Area, in addition to the larger properties it usually acquires.

By Michelle Savage | Updated on September 07, 2001

PINOLE, CA- Pacific Property Company, a privately held real estate investment company specializing in multifamily properties along the Pacific Coast, is blending in smaller apartment properties to its existing base of larger properties.

Pacific says it is seeking smaller apartment communities, with 10 to 50 units, in infill locations throughout the Bay Area, and recently closed on the purchase a 42-unit apartment community in the city of Pinole for $4.2 million or $99,405 per unit. A second acquisition will close in several weeks, according to the company.

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