Los Angeles, CA - Pacific Property Company recently completed a flurry of investment activity having recently engaged in three transactions exceeding $100M of total consideration. Pacific's recent Southern California activity mirrors the firms overall West Coast growth, where in the past twelve months alone, Pacific has acquired over 3,500 units from Seattle to San Diego, totaling more than $625M.

Pacific recently closed the sale of the 152-unit Village at Granada Hills, located in Northridge, CA. Acquired in 2004, Pacific comprehensively renovated the property, spending in excess of $1M. Pacific sold the property for $28.725M to a private Los Angeles investment group.

A joint venture between Pacific and Capmark paid $45.25M for the Lakes at Raintree Village apartment community in San Dimas. During a projected three year hold period, Pacific plans to invest in excess of $3M to reposition the property, which will undergo a name change (Waterstone San Dimas) and a comprehensive interior and exterior renovation.

Pacific's Managing Director, Rory Gardner, detailed the firm's interest in the property, "Lakes at Raintree Village represents the primary investment characteristics our firm seeks; a highly occupied submarket coupled with property level rental rate upside through improved management and capital investment. The Property has very low density with superior grounds, including an extensive water feature, free standing multi-level clubhouse and leasing center, and lush landscaping."

In a separate transaction, Pacific and Capmark have also acquired the 243-unit Hollywood Studio Club complex, located in the heart of Hollywood. Pacific plans to comprehensively renovate the property, expending roughly $4M to reposition the community to a hip, modernized, resort-style property that will appeal to the younger, more urban Hollywood crowd. Renamed the Victor Hollywood, the Property is located ½ block north of Hollywood Boulevard, within walking distance to many of Los Angeles' hottest restaurants and nightlife. Gardner affirms, "Pacific remains extremely enthusiastic about the apartment fundamentals in the Hollywood area at large, as occupancy levels remain extremely tight and the area continues to benefit greatly from a sustained influx of capital and new development projects."

Pacific's CEO, Al Pace, commented on the firm's continued growth. "Despite rising interest rates, Pacific anticipates being a substantial 'net' buyer in 2006 due to the attractive fundamentals in the major West Coast MSAs."

Pacific Property Company is a privately owned multifamily investment company seeking to acquire attractive apartment investment opportunities throughout the West Coast, from Seattle to San Diego.