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LOS ANGELES-Pacific Property Co. of Palo Alto has named Aaron Hancock as acquisitions manager in Southern California, with plans to acquire apartment properties in the greater LA area.

Hancock will shift from the Northern California office to Westwood. Alfred Pace, CEO of Pacific Property, says Hancock’s appointment is part of the firm’s push to increase its presence in the region. Pace says Hancock’s assignment will be to expand the reach of the Westwood office, pursuing mid-size and value-added investments. It is the company’s second such move in less than a year. In November, Rory Gardner was named acquisitions manager in Irvine.

A former senior analyst in Pacific’s Palo Alto headquarters, Hancock participated in the purchase of the 100-unit Seascape Apartments in Pinole for $11 million and the acquisition of the 120-unit Quail Point Apartments in Encinitas for $15 million. He also worked on the dispositions of Grand Lake Terrace in Oakland, a six-building 109-unit deal for $12.3 million as well as the sale of Pacific Crest in Pinole, a 42-unit apartment community that sold for $5.7 million.

Pacific prefers apartment properties in urban locales and commuting corridors where high home prices ensure that a significant portion of the population will remain renters. Privately owned Pacific is an affiliate of Marcus & Millichap and owns a portfolio topping 3,500 units.

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