Pacific Growth Properties Acquires 92-Unit Multi-Family Housing Complex in Greater Atlanta Region

Decatur, GA (PRWEB) May 14, 2007

Pacific Growth Properties, a premier real estate acquisition and development company, announced today that they have acquired a ninety-two unit multi-family housing development situated in the greater Atlanta area. This deal marks the third multi-million dollar Atlanta deal for Pacific Growth Properties within the past year. The Company and its partners have acquired over $33 million in multi-family assets in the Southeastern region within the past eleven months and project a significant number of acquisitions in the next year.

Pacific Growth Properties has acquired the Misty Creek Apartments located within Atlanta's I-280 perimeter. The development consists of 92 spacious apartment units to be managed by First Communities Property Management. The deal was brokered by Trey Miller at Keller Williams Peachtree Battle who represented Pacific Growth Properties and Lowell Figur at Keller Williams who represented the Seller. "I enjoyed working with Pacific Growth Properties. They perform, move quickly and have access to capital," said Figur. Pacific Growth Properties plans to spend significant capital upgrading the property.

In October, Pacific Growth Properties was a principal player in the acquisition of the 398-unit multi-family housing complex The Avenues, for $21 million. In July, the Company and its partners acquired the East Ridge Estates, a 180-unit multi-family property located in Taylors, South Carolina.

Pacific Growth Properties will increase its presence in the greater Atlanta real estate market dramatically within the next 18 months. "We anticipate acquiring another $80 million in our core target markets of Atlanta, Nashville and Savanah within the next 12 to 18 months," said Shannon Phillips, partner in Pacific Growth Properties.

About Pacific Growth Properties
Pacific Growth Properties is a premier real estate acquisition and development company specializing in commercial and residential real estate. The company has corporate offices in both San Diego and the San Francisco Bay Area. The company and its principals have acquired, developed or funded over $500 million in real estate throughout the country.

Contact:
Lisa Phillips
Pacific Growth Properties
818.645.3318
Lisaphillips_5 @ yahoo.com

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