California Firm Invests $102.5M in Atlanta Luxury Apartments

California Firm Invests $102.5M in Atlanta Luxury Apartments

Zara Rojas
2 min read

Pacific Urban Investors' First Atlanta Multifamily Investment Signals Growth in Market

A California-based investment firm, Pacific Urban Investors, has expanded its portfolio into the Atlanta multifamily market by acquiring the luxury apartment complex Mount Vernon Flats, now rebranded as The Kinsley at Perimeter, for $102.5 million. The complex, a four-story structure built in 1997, features a mix of one-, two-, and three-bedroom units and is situated in the Perimeter Center, a prominent business district in close proximity to key employers and amenities. This move represents a significant step for Pacific Urban in establishing a long-term presence in Atlanta, demonstrating confidence in the city's potential for sustained growth despite declining transaction volumes. With CEO Alfred Pace at the helm, the firm holds a diverse portfolio of over $8.5 billion in assets and nearly 22,000 units nationwide, underlining its strong position in the real estate investment sector.

Key Takeaways

  • Pacific Urban Investors makes first multifamily acquisition in Atlanta, purchasing luxury apartment complex Mount Vernon Flats for $102.5 million.
  • The purchase price totals over $248,000 per unit, reflecting the area's value and demand.
  • Strategic location in Perimeter Center, near major employers and amenities, drives investment interest.
  • Pacific Urban views the acquisition as a long-term investment and value-add opportunity.
  • Despite decreasing transaction volume, Atlanta remains a top market for multifamily investment.


Pacific Urban Investors' strategic investment of $102.5 million in Mount Vernon Flats in Atlanta signifies a calculated move into a thriving market. The expansion into Atlanta, coupled with positive population and job market forecasts, positions the firm for further growth in the area. This acquisition not only impacts the competition but also benefits local businesses in Perimeter Center. While short-term effects may include increased property values and rental rates, the long-term outlook suggests potential for economic development and infrastructure improvements. However, the high acquisition cost per unit may pose challenges for housing affordability, particularly for lower-income residents. Overall, Pacific Urban's bold move underscores its confidence in Atlanta's multifamily market and its potential for sustained expansion.

Did You Know?

  • Pacific Urban Investors: Based in California, the firm primarily focuses on real estate investments, particularly in the multifamily sector. With a diverse portfolio exceeding $8.5 billion in assets and nearly 22,000 units nationwide, Pacific Urban Investors maintains a strong foothold in the industry.
  • Multifamily Acquisition in Atlanta: The acquisition of Mount Vernon Flats, a luxurious multifamily property, for $102.5 million showcases the high demand and value of the Atlanta market.
  • Perimeter Center: This major Atlanta business district, where The Kinsley at Perimeter is situated, offers strategic proximity to key employers and amenities, attracting significant investment interest and increasing the property's value.

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