SAN FRANCISCO, CA (April 2014) — With their latest acquisition, Ron Abta and Travis Pacoe, principal investors and managers of multifamily properties in the mid-western and central United States, have reached a milestone of over 500 units in their portfolio. The purchase represented the fifth multifamily investment by the principals since the inception of their current portfolio.
“With the purchase of Aspen Circle, we have achieved one of our primary goals – reaching over 500 units in our portfolio,” stated Travis Pacoe, general partner of Polaris Real Estate Partners. “Importantly, four of these assets are located in one sub-market, providing us economies of scale and cross-marketing opportunities within the portfolio. We also recently acquired our first property in the Dallas-Ft. Worth market, one of the strongest in the U.S.”
The five properties include Fireside, 108 units in Colorado Springs, CO; Shannon Hills, 70 units in Colorado Springs; Fairway View, 112 units in Colorado Springs; Avalon Valley, 105 units in Colorado Springs; and Arbor Vista, 196 units in Dallas, TX. At the date of this press release, WIP owns and manages 591 units.
Polaris Real Estate Partners specializes in multifamily investment in the mid-western and central United States, with its principals collectively holding 40 years of direct real estate investment experience and approximately 1,500 units currently under ownership and management. The company and its principals have acquired multifamily properties, warehouses, manufacturing facilities and retail properties as well as improved and unimproved land. Polaris Real Estate Partners is currently seeking projects 100 to 350 units in size in the mid-western and central U.S.