Pacific Acquires San Luis Obispo Land for Housing

Two major properties have been acquired in the San Luis Obispo County area by Pacifica Corp. of Westlake Village, a wholly owned subsidiary of Pacific Savings Bank of Costa Mesa.

Pacifica purchased from Pacific Ventures a 202-acre property known as Islay Hill in the city of San Luis Obispo for $6.5 million, which will be developed into a single-family home community.

The firm also assumed sole ownership of Blacklake, a master-planned golf course community in Nipomo, by purchasing a $4-million equity of California Communities Inc.