Palo Alto, CA - Pacific Urban Residential today announced the appointment of Scott Youdall as Vice President, Acquisitions for its development division. Youdall will focus on expanding Pacific Urban's multifamily development pipeline in Northern California and Seattle. He is based in Pacific Urban's headquarters in Palo Alto, and reports to Al Pace, President & CEO of Pacific Urban Residential.
Youdall joins Pacific Urban from SummerHill Homes, where he served as Director of Land Acquisitions. Youdall brings a decade of real estate experience to Pacific Urban Residential, and he has spent the last seven years acquiring and entitling properties for residential developments in the Bay Area. "I am excited to be joining the Pacific Urban team during an opportune period for multifamily development. Pacific Urban Residential has the development expertise and capital resources to meet the growing demand for multifamily opportunities. We will look to expand our pipeline with a disciplined investment approach," said Youdall.
"We are delighted to have Scott join the Pacific Urban team. Since 2009, Pacific Urban has been ramping up our multifamily development efforts, as evidenced by our current pipeline of over $300 million/1000 Northern California apartment homes. Scott's expertise within our Bay Area markets is unparalleled, and will serve to significantly augment and accelerate our sourcing capabilities," said Pace. In addition to Pacific's development efforts, the firm is currently under contract to acquire several multifamily communities within its West Coast target markets.
Pacific Urban Residential is a privately owned multifamily investment company seeking to acquire attractive apartment investment and development opportunities throughout the West Coast, with a focus on California and the Pacific Northwest. Formed in 1998, Pacific Urban Residential, along with its strategic partners, has acquired or developed over 18,000 apartment homes. Pacific Urban has a current portfolio in excess of 8,000 units valued at more than $1.5 billion. In addition, the company is currently entitling development projects in San Francisco, Walnut Creek, Redwood City, and Mountain View.