PALO ALTO, CA—Active multifamily investor Pacific Urban Residential is reflecting on a year of unprecedented growth. According to CEO Al Pace, the past year has been a busy one with new investments activity and property sales approaching $900 million.
“While we are watching cap rates and price per unit with some measure of caution, our team continues to identify compelling opportunities in the strongest, job centric markets in the country.” Pace said.
Since 1998, Pacific Urban Residential (PUR) has acquired over 22,000 West Coast apartment homes, totaling $3.5 billion dollars. Today, the firm and its strategic partners own an apartment portfolio in excess of $2 billion dollars.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
