Los Angeles, Calif; Furthering its commitment to growing market share in the Southern California multifamily market, Pacific Property Company CEO Alfred Pace announced today the promotion and appointment of Aaron Hancock to acquisitions manager in Southern California, with oversight of apartment acquisitions in the greater Los Angeles area.

It is the company's second personnel promotion in Southern California in less than a year. In November 2002, Rory Gardner was promoted to acquisitions manager in Irvine.

"Aaron will be expanding the reach of the Westwood office of Pacific, working closely with Managing Director Phill Shuster to pursue mid-size and value-add multifamily investments. He has been a consistent performer in Northern California and will be a great addition to our Southern California team," said Mr. Pace.

A former senior analyst in Pacific's Palo Alto headquarters, Mr. Hancock participated in the purchase of the 100-unit Seascape Apartments in Pinole, for $11 million and in Encinitas, the purchase of the 120-unit Quail Point Apartments, for $15 million. He also worked on the dispositions of Grand Lake Terrace in Oakland, a six-building 109-unit deal for $12.25 million, as well as the sale of Pacific Crest in Pinole, a 42-unit apartment community that sold for $5.7 million.

Mr. Hancock earned a Bachelor of Arts from Bowdoin College in Brunswick, Maine.

Pacific prefers apartment properties in urban and commute corridors in which residents experience greater barriers to home ownership. Despite record low mortgage rates available to buyers of single-family dwellings, for many residents living in apartments, home ownership remains unattainable.

Based in Palo Alto, Calif., Pacific Property Company is a privately-owned multifamily investment company and a Marcus and Millichap affiliated company. Pacific seeks to acquire attractive apartment investment opportunities throughout California and the Pacific Northwest. With a portfolio topping 3,500 units, Pacific remains one of California's most active apartment investors.