PALO ALTO, CA - PUI announced today that it has provided Preferred Equity to AAA Management to facilitate the development of Ion Aero Apartments, a 302-unit multi-housing community located in the Kearny Mesa submarket of San Diego.
CBRE’s Bill Chiles and Scott Peterson represented AAA Management for the financing.
With an anticipated delivery in early 2026, the apartment community will feature an eight-story building with a unit mix of studio, one-, two- and three-bedroom units. Project amenities include an indoor/outdoor fitness center, yoga studio, a clubroom pool and spa, co-working space, outdoor fire lounges, basketball court, playground, dog runs, sky lounge, and an entertainment lounge.
Immediately adjacent to Interstate 805 and Highway 163, the property is within proximity to the Convoy District, and approximately five miles north of Mission Valley and 10 miles north of downtown San Diego. The Property is a located near employers such as Kaiser Permanente, Northup Grumman and Raytheon.
“We are very excited to partner with an experienced sponsor like AAA Management and participate in the development of high-quality real estate in Southern California,” said Ash Baraghoush, Managing Director with PUI.
About Pacific Urban Investors: The Palo Alto, CA-based company has $8.0 Billion in assets under management and owns and manages a national portfolio of more than 20,000 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. PUI 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. PUI 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