PALO ALTO, CA - Industry capital markets veteran Adam Fruitbine has joined multifamily investor and operator Pacific Urban Residential (“PUR”). Adam will add additional leadership to several key initiatives for the firm, including oversight of the growing portfolio of assets in the Eastern U.S., further expansion of the firm’s investment footprint to new markets, and identifying new strategic capital options and investment strategies for future growth.
Formerly with Waypoint Real Estate Investments, Alliance Residential Company and The Tuckerman Group, Adam brings PUR twenty years of additive multifamily capital markets, transaction and portfolio management experience at both entrepreneurial operating companies and institutional investment management firms.
“Adam and I have known one another for fifteen years,” notes PUR Co-founder and CEO Al Pace. “We are delighted Adam is bringing his multifamily insights and capital markets expertise to our growing operator and investment management platform. I am confident Adam will contribute to PUR on multiple levels…expansion, capital markets and our strategic thinking.”
“I am thrilled to join PUR and its dynamic platform,” added Fruitbine. “The firm is a highly-regarded multifamily owner, operator, investment manager and fiduciary and I am excited to be given this opportunity. I look forward to working with such a noted team of professionals and investors.” According to Al Pace, “PUR is on track to transact $2 billion of multifamily communities during its’ current fiscal year, ending March 31, 2020.”
Adam earned his Masters of Real Estate from New York University with a concentration in Finance and a Bachelor degree in International Business from the George Washington University. Adam also serves as a Chair for the Urban Land Institute’s (ULI) Multifamily Product Council. Adam is based in PUR’s New York office.
About Pacific Urban Residential: Co-founded in 1998 by multifamily executives George Marcus and Al Pace, Pacific Urban Residential currently owns 11,000 apartment homes valued at $4.2 billion dollars. The firm is headquartered in Palo Alto, California with offices in Seattle, Los Angeles, Irvine and Manhattan, focusing exclusively on multifamily investment opportunities.