Pacific Urban Expands Mid-Atlantic Portfolio with Acquisition of Park Place at Van Dorn

Pacific Urban Investors, a multifamily owner-operator and investment manager, has completed its fourth acquisition in the Mid-Atlantic, increasing its regional portfolio to 1,080 units. The newly acquired community, Park Place at Van Dorn, comprises 285 units located in Alexandria, Virginia. This investment marks Pacific Urban’s 17th investment on the East Coast, reflecting continued strategic expansion into key markets including Boston, the New York Metro, and the Southeast.

“Park Place represents a continuation of our strategy to invest in well-located multifamily communities that offer strong connectivity, livability, and enduring fundamentals,” said Matt Lederer, Vice President of Investments. “The Property’s commuter-oriented location, proximity to a diverse and substantial employment base and amenities, and institutional-quality physical plant position it for durable performance across cycles. We look forward to continuing to expand our East Coast portfolio, with significant discretionary capital available for that purpose.”

Park Place is situated along South Van Dorn Street in Alexandria, less than one mile from the Van Dorn Metro Station, with direct access to I-495 and I-395 providing convenient connectivity to major employment corridors across Northern Virginia and Washington, D.C. The community is also within minutes of major retail centers, dining, and lifestyle amenities. Built in 2003, the property offers expansive floor plans, nine-foot ceilings, and a comprehensive amenity set including a clubhouse, pool, fitness center, and direct-entry garages.

”Park Place fits squarely within our thesis – vintage communities in job- and amenity- centric locations that provide a meaningful value proposition to residents as compared to home ownership and newly built communities, supportive of durable and growing cash flows over time,” said John Fluke, Managing Director of Investments at Pacific. “The Mid-Atlantic offers a cap rate discount as compared to many of our other markets, shifting a greater attribution of return to cash flow and less reliance on market or manufactured rent growth.”