SAN FRANCISCO, CA (July 2019) — With the completion of purchases in March and May of 2019, Polaris and its general partners achieved a significant goal – acquisition of over 5,000 units. Further, with the purchase of 640 units during the first half of the year, current holdings of Polaris are now 3,623 units. These acquisitions represent the 24, 25 and 26 multifamily investments by Polaris or its general partners since commencement of the assembly of its current holdings.
“Polaris completed 10 transactions in the 12 months ended May 2019 – the acquisition of 7 properties totaling 1,480 units in Missouri and Texas and the sale of 3 properties totaling 563 units in Colorado Springs and Dallas,” noted Travis Pacoe, general partner of Polaris Real Estate Partners. “The three 2019 acquisitions were completed working with three different sellers and multiple lenders simultaneously in two states, continuing to demonstrate our flexibility and execution ability.” At the date of this press release, Polaris and its general partners have taken eight properties full cycle from acquisition to value-add and sale totaling over $100MM.
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. With substantial, dedicated equity, the company and its principals have acquired multifamily properties, warehouses, manufacturing facilities and retail properties as well as improved and unimproved land. Polaris is also deeply committed to enriching the lives of its residents through its community improvement efforts. Polaris Real Estate Partners is currently seeking individual properties or portfolios of 200 to 1,000 units in size in its targeted areas.