Palo Alto, CA — Pacific Property Company announced today it has agreed to acquire three California apartment communities totaling $61,000,000. The announcement arrives thirty days after Pacific closed the $32.5mm, 256 unit Skyline Heights apartment community in Daly City, California. The new investments will include the 406 unit Applewood Apartments in Santa Ana, California as well as two Silicon Valley communities totaling an additional 191 apartment homes.

"We remain very bullish on the California economy", says Al Pace, CEO of the two-year old, privately held startup. "These new investments are very well located, benefit from strong drive-by traffic and are situated in major employment centers. Moreover, the properties are currently fully occupied, a strong indicator of below market rents. Currently under managed and capital deficient, these properties will benefit from significant capital improvements that will enhance their competitive position within their respective submarkets.

Additionally, Pacific announced it has placed an additional 250 units under contract in Southern California. "Pacific's portfolio will top 3,500 apartment homes by October, exceeding $340,000,000 in investments. We are very pleased with the performance of our current portfolio and our 200% year over year annual investment growth rate. I fully expect this will accelerate as we expand our operation into markets with similar desirable, insular characteristics".

Pacific Property Company is a privately held apartment investment firm. The company is headquartered in Palo Alto, CA with offices in Los Angeles and San Diego.