Pacific Urban Investors Announces Record Transaction Volume in 2021

Investment Firm’s goals for 2022 – Continued Growth in Transactions, Investment Platforms and Geographic Markets

Driven by the synergies from the merger of Pacific Urban Residential and Hanover Real Estate Investors early in 2021, Pacific Urban Investors (“Pacific”) today announced record 2021 investment volume of $1.6 Billion. The firm’s 2022 goals project a continued growing level of activity in both transaction volume and geographic reach.

 

2021 Accomplishments

• Over $1.6 Billion of total transactions in 2021
• Acquired 15 properties totaling 3,907 units
• Sold 8 properties totaling 511 units
• Expanded geographic footprint to include offices in Northern California, Los Angeles, Orange County, Seattle, Denver, New York City, Boston and Washington D.C.
• Broadened the firm’s investment strategy to include Preferred Equity, JV Development and Acquisition platforms
• Ranked #1 in the nation among institutional real estate peers in the 2021 GRESB annual rankings of firm’s ESG + R performance, demonstrating Pacific’s commitment to sustainability, diversity and social responsibility.

 

2022 Goals                                                                                     

• Acquire $2.5 Billion in Value Add, Core, and Core plus Multifamily Assets
• Place $500 Million of Preferred Equity and JV finance funding into sponsor projects
• Continue strong performance and market penetration in San Francisco, San Jose, LA, Orange County, San Diego, Portland, Seattle, Denver, New York City, New Jersey, Connecticut, Boston, Washington D.C., Virginia and Maryland MSA’s.
• Increase geographic coverage to include major MSAs in the Southeast and Southwest.

 

Pacific Urban Investors’ CEO, Al Pace, reflects on the success that 2021 represents, “Our multifamily residential firm grew to over $7 billion of AUM on the strength of record transaction volume for the company.  Our professionals nationwide managed our existing portfolio, home to nearly 20,000 residents, through the challenges of COVID, while delivering a clear value proposition to our residents and superior returns to our valued institutional client partners.  I could not be more proud of our year and the future for our firm.”  Mr. Pace also highlighted the company’s merger this past year with Hanover Real Estate Investors expanding the investment firm’s platform to include Preferred Equity investments into sponsor projects as well as the commitment to provide JV equity for new development deals and property acquisitions with partner sponsor firms.

 

Mr. Pace noted enthusiasm for the coming year, “2022 will represent yet another record year of production in the acquisition of superior assets in key urban markets across the country where the firm is already operating.  Added to that will be the expansion into new markets in the Southeast and Southwest major MSA’s.  Our platform offerings will allow numerous investment vehicles with nationwide reach in the multifamily space for institutional clients, pension funds, and development and acquisition partners.  Our success has been and will continue to be fueled by a local office approach and our long-standing relationships throughout the brokerage community.  We are excited to continue our growth in 2022, delivering exceptional value to all our residents and partners.”