Irvine, CA - Demonstrating a significant commitment to the Southern California multifamily market, Pacific Property Company CEO Alfred Pace announced today the promotion and appointment of Rory Gardner to head its recently opened Irvine office.

It is the company's second expansion into the southern half of the state. Pacific Property opened its Los Angeles office in 1999. Mr. Gardner was promoted to acquisitions manager. He had been Senior Acquisitions Analyst and operated from the firm's Westwood office, run by multifamily market veteran and Managing Director Phil Shuster.

Pacific's expansion will allow it to become increasingly more responsive to multifamily investment opportunities in Orange, San Diego, Riverside and San Bernardino counties.

"While Pacific is currently selling some properties in the Southern California marketplace, we believe that in the right circumstances, this is a great time to buy the type of assets we are focused on and thus the reason to promote Rory and open the Irvine office," said Pacific Property CEO Al Pace.

Like Pacific's Westwood presence, the Irvine office is focused exclusively on identifying strong multifamily investment opportunities and expanding Pacific's coverage in Southern California.

Pacific prefers apartment properties in urban and commute corridors in which residents experience greater home ownership barriers to entry. Despite record low mortgage rates available to buyers of single-family dwellings, for many apartment residents in apartments, home ownership remains unattainable. Recently, Pacific has committed to new investments in Monterey Park, Pasadena, Los Angeles, San Jose and Oakland, California, totaling more than 500 units and nearly $50 million in consideration; another $80 million is undergoing due diligence with the firm. With a portfolio topping 3,500 units, Pacific remains one of California's most active apartment investors. Based in Palo Alto, Calif., Pacific Property Company is a privately-owned multifamily investment company seeking to acquire attractive apartment investment opportunities throughout California and the Pacific Northwest.