Prospective Homebuyers and New Residents Celebrate the Success of Pan American Lofts at Open House Party
October 30, 2007 -

LOS ANGELES, CALIF. — It’s cool neighbors that make a downtown loft community, like Pan American Lofts, successful. Interested buyers recently mixed and mingled with current residents at an Open House Party on October 20th, marking the debut of the new stylish models. The buzz overheard from party-goers ranged from “the models are gorgeous” to “I can’t believe the choices we have with most of them spoken for!” Current homeowners couldn’t stop gushing about how much they loved living at Pan American Lofts; and buyers couldn’t stop talking about the special savings incentives offered for the final remaining units. But everyone—from trendsetting singles and couples to savvy business professionals and people who want a second home on the weekends—enjoyed the tasty hors d’oeuvres, delicious cocktails and great prize giveaways at the Open House Party!

The sophisticated urban ambiance, historic charm and camaraderie present at the party gave guests a clear picture of what living at Pan American Lofts is all about Dan Garcia, a record producer and long-time Los Angeles resident, recently moved into his new fourth floor loft. “It’s a real community here in downtown,” he added. “I’m always seeing the same people on the street. Pan American Lofts provides a great opportunity to live in a real urban environment in L.A.”

First-time homeowner, Marty Kish, feels the same way about his new digs at Pan American Lofts. “I didn’t realize how many people I know are moving downtown,” said Kish, who works at Vestal Watch in Costa Mesa and follows the thriving L.A. music scene closely. “There is so much happening here. I figured I would go into Hollywood once or twice a week, but since I’ve moved in, I’ve stayed right here. I have my pick of bars and lounges, nice restaurants, plenty of local concerts and other events to keep me busy. It’s a nice change of pace from Newport Beach—and it’s a great investment for me.”

Located in the historic Irvine Byrne Building, which was built in 1895 in the distinct Beaux-Arts style, the newly restored Pan American Lofts is the second most vintage building in downtown’s historic core. Future residents will truly be in the heart of it all, 24/7. They can catch a live performance at the Walt Disney Concert Hall and Music Center, admire new paintings at the Museum of Contemporary Art, enjoy a relaxing afternoon at Maguire Park or Pershing Square, find fresh fruits and vegetables, meat, poultry and fish at Grand Central Market, score the latest trends at the nearby California Market Center or Macy’s Plaza, cheer on the Lakers at the Staples Center and get a little taste of culture in Little Tokyo—all within a five-mile radius of their home.

“Owners will be a part of L.A.’s history while helping to shape its future,” said Jay Stark, Managing Director of Phoenix Realty Group, a national real estate investment firm that has partnered with Long Beach-based Urban Pacific Group to develop Pan American Lofts. “At Pan American Lofts, residents will be only minutes away from the Grand Avenue Project and LA Live, two multibillion dollar developments that are recasting L.A.’s core into one of the world’s most exciting 24/7 hubs.”

Homeowners at Pan American Lofts will live in the center of all of this excitement and have the warm comfort of home. Inside the lofts, they’ll find modern design features such as exotic bamboo flooring (select units), high-end stainless steel appliances, original exposed brick and concrete walls, 12-foot to 17-foot interior ceilings, minimalist vanity porchers in the baths, Juliet balconies/private decks (select units) and many more details that make everyday living a joy. Residents will also enjoy controlled-access subterranean parking and an interior common courtyard.

Pan American Lofts features 40 stylish loft residences spanning from approximately 658 to 1,248 square feet, including 10 penthouse units with internal mezzanines and private rooftop terraces. Priced from $350,000-775,000 there are many lifestyles, from modest loft to fabulous penthouse, to choose from.

Only a few lofts remain at Pan American Lofts; several lofts are also available for immediate move-in. These homes are not expected to stay on the market for long. That’s why interested buyers should visit the sales center at 253 S. Broadway, Unit 207 (the northwest corner of Broadway and 3rd) or stop by the newly opened models this weekend. To find out more information, as well as view photos and virtual tours of the property, log onto www.panamericanlofts.com. To speak with a sales associate, call the sales center at (213) 621-9970. The sales center is open from 11 a.m. to 5 p.m. Tuesday through Saturday.

Pan American Lofts is built by Urban Pacific Group, Inc. (“UPG”), a Long Beach-based real estate development company. UPG is focused on providing urban housing through the development of adaptive reuse, in-fill, and affordable housing communities in the Southern California marketplace. UPG’s managing partners are experienced industry professionals that have worked across the spectrum of residential housing development and construction. Combining a unique knowledge of high density urban infill design/construction and redevelopment agency sponsored projects, UPG excels in bringing together specialized teams in the field of inner-city infill residential development. For further information on the company, log onto www.urbanpacific.com.

Phoenix Realty Group (www.phoenixrg.com) is a national real estate investment firm providing capital and expertise to urban. Phoenix Realty Group has attracted significant institutional investment from many of America's leading pension funds, banks and insurance companies. PRG currently manages real estate funds that together will provide nearly $3 billion in housing and community revitalizing commercial properties.