Pacific Urban Investors, a company that specializes in owning and managing multifamily properties, has recently completed its first acquisition through a new investment vehicle. This vehicle focuses on Class A core and core-plus opportunities. The property acquired by Pacific is called Ascend but will now be known as The Harlowe after being rebranded by the company. Located in Milpitas, the community consists of 266 units.
The seller of the property and pricing details have not been disclosed at this time. This marks Pacific Urban’s first purchase with a foreign pension advisor who is looking to invest in U.S gateway markets. With their strong presence already established in the Bay Area with 29 multifamily assets and over 5,500 units currently owned there, Silicon Valley was an ideal target for this venture.
Vas Giahos, Vice President of Investments at Pacific stated that they are thrilled to begin their new investment journey with the acquisition of Ascend/The Harlowe. He also mentioned that it is a high-quality community built just last year (2021) which boasts LEED Gold Certification along with top-of-the-line amenities and unit interiors – making it an excellent living option for residents.
This latest venture reflects Pacific’s commitment towards investing in communities that offer exceptional living experiences for its residents.
