SAN FRANCISCO, CA (JUNE 2017) — Travis Pacoe and Ron Abta, principal investors and managers of multifamily properties in the mid-western and central United States, have sold one of their Dallas, TX properties. This sale is the second full-cycle capital event of their current portfolio.
“We sold 196 unit Arbor Vista for a 76% premium over what we paid in October 2013,” stated Travis Pacoe, managing general partner of Polaris Real Estate Partners. “The sale provided a net return on our investors’ equity of 108%, or 28.8% annualized – an IRR of 24.4%. We are planning to complete a 1031 exchange with the proceeds, allowing our investors to defer capital gains taxes.”
“The sale of Arbor Vista marks the first completion of several investments we’re targeting for sale during 2017,” general partner Ron Abta noted. “We have added considerable value to these multifamily assets, all acquired within the past four years. We’re pleased to be able to sell Arbor Vista ahead of schedule while providing exceptional returns to our investors well in excess of our target.”
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 2,300 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 throughout the United States. Polaris Real Estate Partners is currently seeking projects 200 to 500 units in size in the mid-western and central U.S.
Contact:
Travis Pacoe or Ron Abta
Polaris Real Estate Partners
415-826-5202 main
tpacoe@polaris-lp.com; rabta@polaris-lp.com