PALO ALTO, CA - Multifamily owner-operator and investment manager Pacific Urban Investors (“Pacific”) continued growth in the Denver market in 2022, with the acquisition of Greenwood Plaza. The 266-unit Greenwood Plaza community marks Pacific’s third acquisition in the region. In total, at year end 2022, Pacific’s Mountain West portfolio consists of two properties totaling 464 units.
The acquisition of Greenwood Plaza in 2022 gives Pacific the opportunity to own inside of Denver’s largest and most dynamic employment center, and within the highly ranked Cherry Creek School District. “Pacific is excited about continuing to invest in the Denver market based on employment growth, a positive business climate, and high quality of life that is sparking population growth,” said Ray White, Vice President of Investments at Pacific.
“Denver is one of our highest rated markets nationally and as such we are excited to continue investments across all of our strategies; preferred equity, joint venture co-investment equity, and direct acquisitions, both value add and core communities,” said Jesse Mack, Managing Director. “Looking forward, our outlook is very positive for metro Denver. We view the current capital markets dislocation as an opportunity to continue to add quality communities to our portfolio while other investors may be less active.”
About Pacific Urban Investors: The Palo Alto, CA-based company has over $8.3 Billion in assets under management and owns and manages more than 19,700 units. The firm and its partners have decades of experience in apartment investments, both repositioning and ‘re-manufacturing’ multifamily assets and their income streams to their optimal, core potential. Pacific has progressed over time to become a best-in-class owner, operator and asset manager in the multifamily space, serving as a fiduciary for its own partner capital as well as its strategic partnerships with institutional pension funds and other sophisticated investors. Pacific is actively acquiring multifamily assets as a principal and providing both co-investment and preferred equity for development, acquisition, and recapitalization.
For more information, please visit www.pacificurbaninvestors.com