Palo Alto, CA - Pacific Property Company announces the sale of Missions at Back Bay apartments to United Dominion Realty Trust. The 104 unit complex is located in Costa Mesa and is adjacent to a local golf course.

Originally constructed in 1968, Pacific acquired the property in 2001, subsequently completing a minor repositioning effort. John Walsh of Marcus & Millichap's Encino office represented both buyer and seller.

The sale comes on the heels of Pacific Property Company's continuing flurry of investment activity in southern California. Pacific has been on a feverish pace, acquiring 1,250 units in the past three months and well over 2,300 units since January. Acquired properties have covered a wide range of qualitative characteristics, ranging from the repositioning of the 87 unit Home Park Village in San Diego (renamed The Ridge at San Diego) to the recent acquisition of the 312 unit, institutional quality Waterstone at Moorpark in Moorpark. Additional acquisitions have been completed in Encinitas, Murietta, Rancho Bernardo, San Diego/Clairmont and Sherman Oaks. Pacific also recently acquired 100 units in the San Francisco bay area.

In five years, Pacific Property Company is acknowledged as one of California's most active investors in the apartment sector. Expanding its reach and commitment to sourcing compelling investment opportunities, Pacific recently expanded its operations to include the opening of another office in Irvine. Recently, Pacific hired Paul Dolk, formerly of Fowler Flanagan to enhance its investment efforts in the San Diego region. With this recent addition to its investment group, Pacific has expanded to five full-time investment professionals in California.

According to CEO Al Pace, "Pacific continues to seek multifamily investment opportunities throughout California. Interested brokers and sellers should contact our local offices directly".

Pacific Property Company is a privately owned multifamily investment company seeking to acquire attractive apartment investment opportunities throughout the West Coast, with a focus on California.