PALO ALTO, CA – Multifamily owner-operator and investment manager Pacific Urban Investors bought La Jolla International Gardens, a 400-unit apartment community in the La Jolla / University Town Center (UTC) submarket of San Diego, CA. The property was renamed Allina La Jolla and marks Pacific s 21st acquisition in the San Diego Market.
Allina La Jolla is a 100% market rate property built in 1986. La Jolla / UTC is known as a regional employment driver in multiple science and technology fields due to its business connectivity to the University of California at San Diego (UCSD) research ecosystem. Proximity to downtown La Jolla, job centers up and down the I-5/I-15 corridors, and some of southern California s best beaches make La Jolla / UTC a highly sought-after locale offering convenient coastal access and small commute times. The Property offers semi-urban, walkable living 10 minutes from the ocean, a job-dense micro location with abundant neighboring retail, and spacious amenities. Community offerings on the meticulously crafted, 7-acre asset include a resort-style pool and spa, sprawling clubhouse, fully-equipped business center, modern fitness center, sand volleyball court, and bar-be-que area.
Pacific Urban Investors is committed to preserving the distinctive character and identity of Allina La Jolla while introducing new initiatives aimed at further enhancing the resident experience. The company plans to invest in modernizing the community s amenities, including expanded communal areas for residents to connect and engage, and upgrading resident unit interiors.
Allina La Jolla gives Pacific the opportunity to own a high quality, well-kept vintage asset that offers residents a pleasant living experience with proximate access to La Jolla beaches only a small drive away. Exceptional demographics, award-winning schools, world-class outdoor amenities, and expansive retail offerings make La Jolla / UTC as desired a coastal community as any in San Diego County. The Property s premium location, access to multiple employment nodes, ample amenities, and well-designed floor plans, all serve as differentiating features in the marketplace, said Grant Geisen, Senior Vice President of Investments at Pacific.
Pacific s President Rory Gardner commented, We are excited to obtain a position in this coveted coastal San Diego submarket where opportunities are so hard to come by. Allina La Jolla is a welcome complement to our growing Southern California portfolio, and we are actively seeking additional San Diego investments across all our strategies; including both direct acquisitions, as well as joint venture and preferred equity opportunities.

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DALLAS, TX – Mill Creek Residential, a leading developer, owner-operator and investment manager specializing in premier rental housing across the U.S., announced construction is underway on Modera St. Paul, a contemporary mixed-use apartment community centrally located in one of the most walkable areas within Downtown Dallas.
The 16-tale community, with 333 homes and nearly 4,000 square feet of retail space, will be uniquely positioned at the confluence of the city’s primary employment, civic and cultural districts with delivery occurring after numerous hotels, restaurants and parks have helped to make a vibrant neighborhood in downtown Dallas. Boasting a robust Walk Score of 95, Modera St. Paul will place residents within steps of more than 200 bars, restaurants, boutiques and additional key attractions. The community will offer a full slate of first-class amenities, including unique experiences like a karaoke room, podcast studio and arcade. First go-ins are anticipated for late 2024.
“The unique pocket of downtown, which has benefitted from considerable private investment in the Farmer’s Market and what is now known as East Quarter, as well as both public and private investment in a system of nearby parks, continues to become an exceedingly attractive living destination with its proximity to everything residents desire from city living,” said Michael Blackwell, senior managing director of development in North Texas for Mill Creek Residential. “With our partners the Hamiltons, who have been instrumental in the evolution of downtown, we are excited to add Modera St. Paul to the neighborhood, which will provide walkable access to the downtown’s rapidly expanding restaurant scene and world-class parks, all while putting residents within moments of nearly 200,000 jobs in greater downtown. We look forward to offering a best-in-class living experience in the heart of Dallas.”
Situated at 400 S. St. Paul Street, the community is within a five-minute walk from the Main Street District, AT&T’s Global headquarters and Discovery District, as well as the Dallas Farmers Market. The community also features a strong Transit Score (85) and Bike Score (78). Residents will also delight in extremely quick access to the surrounding transportation network, including two DART light rail stations and Interstate 30, Interstate 35E and Central Expressway. Several destination parks with year-round programming are within a small walk of the community, including Carpenter Park, Main Street Garden and Harwood Park, which is under construction just a half-block from Modera St Paul.
Modera St. Paul is being built to NGBS bronze standards, and will feature one-, two- and three-bedroom homes with select den layouts optimized for hybrid workers. Additional community amenities will include a rooftop deck, sky lounge, seventh-floor amenity deck with outdoor swimming pool, grilling area, fire pit, outdoor dining, landscaped courtyards, resident clubhouse, coffee bar, private conference rooms, pet spa, dog run and a club-quality fitness center with cardio equipment and yoga studio. Residents will also have access to work-from-home spaces, private EV charging stations, controlled-access reserved parking and a bike storage and repair room.
Apartment interiors will include wood plank-style flooring, built-in shelving and desks, stainless steel appliances, quartz countertops, tile backsplashes, soft-close cabinets with under-cabinet lighting, premium plumbing fixtures, refrigerators with built-in water filters, in-home washers and dryers, walk-in closets and private patios or balconies. Bathrooms will feature custom backlit mirrors, double vanities, walk-in showers and tile flooring. Select homes will include moveable kitchen islands, mudrooms, separate dining areas and oversized bedrooms. The community will also offer a variety of smart home features, including smart thermostats, smart leak detection, controlled guest-access technology and ultra-high-speed WiFi connectivity provided to residents at a discount to market-pricing.

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TIGARD, OR – Hamilton Zanze announced the sale of the Woodspring Apartments in Tigard, Oregon to the Housing Authority of Washington County (HAWC).
This acquisition by HAWC helps preserve the affordability of a 172-unit apartment community. This success culminates four years of dedicated engagement and effort between the parties.
Mission Rock Residential is proud to continue as Woodspring Apartments property management company for HAWC, and it remains committed to providing the highest level of service to its residents.
Hamilton Zanze (HZ) is a private, San Francisco-based real estate investment company that owns and operates apartment communities. Since its founding in 2001, Hamilton Zanze has bought over $6.3 billion in multifamily assets primarily in the Western, Southwestern, and Eastern U.S. The company currently owns and operates 133 properties (22,543 units) across 30 markets.

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