PALO ALTO, Calif., July 21, 2023 (GLOBE NEWSWIRE) -- Pacific Urban Investors’ (PUI) Structured Finance Group announced today that it has provided Preferred Equity to Archway Equities to facilitate the acquisition of The Paseos at Montclair, a 385-unit multi-housing community located in the Inland Empire community of Montclair.
Built in 2014, the garden-apartment style community features a unit-mix of studio, one-, two- and three-bedroom Santa Barbara-inspired townhomes built around a central linear park with a concert amphitheater. Amenities at the complex include two resort-style pool areas with spas and cabanas, a fitness facility, a children’s entertainment suite and a yoga room, conference center, and entertainment lounge.
In proximity to Interstates 10 and 210, the property is within walking distance of the Montclair Transitcenter, an intermodal facility providing bus and train service throughout the region. The property also neighbors Claremont McKenna College, ranked as one of the top 10 liberal arts universities in the country, according to US News & World Report.
“We are very excited to partner with an experienced sponsor like Archway Equities and participate in the acquisition of high-quality real estate in Southern California,” said Ash Baraghoush, Managing Director with PUI’s Structured Finance Group.
About Pacific Urban Investors: The Palo Alto, CA-based company has over $8.6 billion in assets under management and owns and manages a national portfolio of more than 20,000 units. The firm and its partners have decades of experience in apartment investments, both repositioning and ‘re-manufacturing’ multifamily assets and their income streams to their optimal, core potential. Pacific has progressed over time to become a best-in-class owner, operator and asset manager in the multifamily space, serving as a fiduciary for its own partner capital as well as its strategic partnerships with institutional pension funds and other sophisticated investors. Pacific is actively acquiring multifamily assets as a principal and providing both co-investment and preferred equity for development, acquisition, and recapitalization.
For more information, please visit www.pacificurbaninvestors.com or please contact:
Ash Baraghoush
Managing Director
11999 San Vicente Boulevard, Suite 340 | Los Angeles, CA 90049
(O) 424.653.2524 | abaraghoush@pacificurbaninvestors.com
Media Contact: Christine Briones
Office: 650.842.2390
Email: cbriones@pacificurbaninvestors.com
