Pacific Urban Investors has recently expanded its national portfolio by acquiring two multifamily properties comprising a total of 832 units for approximately $219.5 million, according to public records.
The first property, Viridian, located in Greenwood Village, Colo., near Denver, consists of 420 units. It was previously owned by J.P. Morgan Asset Management and was sold for $117 million. Viridian offers a range of floorplans from 570 to 1,420 square feet, featuring amenities such as in-unit washers and dryers, walk-in closets, private balconies or patios, and 9-foot ceilings. Residents can also enjoy common-area facilities including a two-story fitness center, swimming pool, dog wash station, barbecue area, basketball court, and a movie theater. Situated at 5335 S. Valentia Way within Denver Tech Center, Viridian provides convenient access to Interstate 25, located approximately 13 miles south of downtown Denver and 5 miles from Centennial Airport.
The second property, Mount Vernon Flats at the Perimeter in Atlanta, comprises 412 units and was sold for $102.5 million. This acquisition marks Pacific Urban’s entry into the Atlanta market. Mount Vernon Flats offers one-, two-, and three-bedroom layouts ranging from 779 to 1,560 square feet, with amenities such as in-unit washers and dryers and fireplaces in select units. The community features a fitness center, two swimming pools, and a tennis court and is located at 1265 Mt. Vernon Highway, approximately 16 miles north of downtown Atlanta and adjacent to Perimeter Pointe shopping mall.
Vice President of Investments Matt Lederer expressed Pacific Urban’s plans for further expansion in Atlanta following the Mount Vernon Flats acquisition. This move adds to the company’s growing regional presence, with Viridian being its fourth acquisition in the Denver area, bringing its total regional portfolio to 884 units.
Pacific Urban currently manages assets exceeding $8.7 billion and maintains a national portfolio of more than 22,700 units. Earlier this year, the firm secured a $41 million Fannie Mae loan from Berkeley Point Capital as part of its acquisition of a 223-unit community in San Diego for $82 million.
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By Proptechbuzz
By Ravi Kumar
