Los Angeles, CA - Pacific Property Company ended a busy summer by acquiring 410 San Diego apartment units in two transactions valued in excess of $40.5M. The firm purchased the 324-unit Bay View Summit, located just east of Mission Bay, for approximately $32.5M. In a separate transaction, Pacific acquired the 86-unit Home Park Village for $8.5M. Pacific has plans to reposition each property.

Pacific's Acquisition Manager, Rory Gardner, coordinated both acquisitions. "Both Bay View Summit and Home Park Village possesses investment characteristics our firm seeks; highly occupied submarkets coupled with rental rate upside through improved management and capital investment. In addition both assets are proximate to major employment centers. Further, San Diego will continue to be an area targeted for investment; housing remains in short supply and San Diego's economy continues to demonstrate diverse growth." Stratus Real Estate will manage both properties for Pacific.

Pacific has been one of Southern California's most active apartment investors during the summer months, closing on five separate transactions valued in excess of $123M. Alfred Pace, Pacific's President, affirmed the company's commitment to the region, "We remain extremely bullish on the investment prospects for Southern California. Despite a national employment slowdown, the Southern California apartment market remains healthy. Our firm's 'on the ground' experience as an owner / operator reveals occupancy and rent trends that bode well for future investments. As such, we are continuing to expand both our staffing levels and investment focus in the region."

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.