Pacific Urban Investors, a seasoned multifamily owner-operator and investment manager, has recently expanded its Denver portfolio through the acquisition of Viridian, a 420-unit apartment community in Greenwood Village, CO. Strategically located in the Denver Tech Center, Viridian is surrounded by a high concentration of high-paying jobs in sectors such as technology, financial services, telecommunications, and aerospace. This purchase signifies Pacific’s fourth investment in the Denver area, collectively amassing a total of 884 units in their regional portfolio. The Viridian property, touted for its high-quality and profitable location, offers Pacific a lucrative opportunity to implement enhancements, thereby elevating the living experience for its residents and profit yield for capital partners. The community notably boasts a comprehensive amenity package including a resort-style pool, a basketball court, favorable parking availability, and 9-foot ceilings within its spacious floor plans. The augmentation of stable and rising cash flows is anticipated following the property’s repositioning. Additionally, Viridian residents benefit from premier schooling, significant mobility courtesy of major freeways and light rail access, proximity to 35,000 Denver Tech Center jobs, and short travel to the broader business sphere encompassing 240,000 jobs in Denver South. Pacific’s investment strategy focuses on vintage communities situated in prime locations, offering meaningful employment and lifestyle amenities, rendering a considerable value for residents vis-à-vis newer constructions and home ownership. With Denver being a targeted market for expansion, where Pacific considers itself underrepresented, the firm is vigorously scouting additional investments in the area. John Fluke, Director of Investments at Pacific, underscores the importance of Denver in their portfolio and their intent to augment their market share. With over $8.7 billion in assets under management and supervising a substantial national portfolio exceeding 22,700 units, Pacific Urban Investors stands as a prominent entity in apartment investments. They specialize in the repositioning of multifamily assets, ultimately enhancing income streams to peak potential. The firm’s evolving expertise encapsulates comprehensive fiduciary roles for its capital partners and strategic institutional pension fund investments, ardently pursuing multifamily asset acquisitions and providing co-investment and preferred equity for an array of development projects.

Real Estate / Multifamily Housing, Investment Management,Denver, Colorado, United States, Palo Alto, California, United States

https://www.globenewswire.com/news-release/2024/05/07/2877357/0/en/Pacific-Urban-Investors-Expands-Denver-Portfolio-with-Acquisition-of-Viridian-Apartment-Community-in-Greenwood-Village.html