Rory Gardner Steps Up to President of Pacific Urban Residential
- Jul 15, 2020
Rory Gardner has become president of Pacific Urban Residential (PUR), stepping up his role at the multifamily investment that manages 11,000 apartment units valued at $4.5 billion. In his new position, Gardner oversees day-to-day operations of the company, is responsible for PUR’s investment and disposition activity and helps shape the overall strategic direction of the firm.
Gardner, who also serves as a member of the Investment Committee, joined PUR in 1999 as an analyst and rose through the ranks to become Southern California partner, enterprise partner, chief investment officer and most recently, chief operating officer. A graduate of Babson College, Gardner earned an MBA from the University of Miami and held a position with Morgan Stanley before joining PUR. He has been responsible for a total of more than $3 billion in multifamily acquisitions and dispositions during his career.
Based in Palo Alto, Calif., PUR is led by Vice-Chairman & CEO Al Pace and has invested more than $7 billion in multifamily communities since 1998. The company has offices elsewhere in California, Seattle and Manhattan and is currently breaking into the Boston and Washington, D.C., markets.
In mid-2019, PUR acquired AVA Stamford, a luxury apartment property in Stamford, Conn., from AvalonBay Communities Inc. as part of its East Coast expansion. The company followed up that purchase later that year by acquiring The Highlands at Morristown Station, a 217-unit community in Morristown, N.J., for $97.9 million from PGIM Real Estate.