How WestPac Grew Under CEO Patrick Smith
In 1974, a young real estate developer by the name of Alex Pananides began investing in real estate developments using the name WestPac— though he had already been working in real estate since 1966. This Santa Barbara-based developer was eager to keep expanding and growing his real estate pursuits, and this eventually led him to connect with another young developer by the name of Patrick Smith.
Patrick Smith had already achieved real estate success of his own, having started his firm Smith and Company years earlier and been responsible for over 500,000 square feet of office, retail, medical offices, and single-family housing units.
Combining a shared vision for what they wanted out of their real estate careers— and a shared connection to the sunny beaches of Southern California— Pananides and Smith began investing in projects together. Before long, their partnership was formalized when Smith was named the CEO of WestPac and Pananides became chairman of the board.
A Brief History of WestPac
Today, WestPac is a California-based real estate development and management company that’s established a nationwide reputation. With hundreds of employees and operations in California, Hawaii, Arizona, New Mexico, Colorado, and Michigan, WestPac continues to expand and seek profitable developments across a range of types— multi-family housing units, mixed-use and retail developments, office buildings, housing developments, medical office space, and more.
But who is Patrick Smith, the company’s longtime CEO?
About Patrick Smith
Patrick Smith’s initial interest in real estate development started when he received his General Contractors license in 1974 while still in college as he pursued a B.S. in Architecture from Cal Poly. Graduating in 1976, Patrick Smith quickly found his interest expanding beyond the specific details of erecting buildings to include the funding, planning, and other factors involved with real estate development.
A few years later, Patrick Smith launched his first business with Smith and Company, a real estate investment development corporation. The founding of this business allowed Patrick to develop his now widely regarded skill for identifying real estate opportunities and turning them into successful developments. Smith obtained his architectural license in July of 1985, his real estate broker’s license in May of 1986 and his NASD securities license in 1987. Smith’s career spans 48 years of real estate involvement.
Today, WestPac is as successful as ever, dividing its endeavors into four areas of focus that allow its employees to hone in on the projects that matter most to them— WestPac Communities, WestPac Development, WestPac Hospitality, and WestPac Investments. As CEO, Patrick Smith oversees all four arms of the WestPac family, each with its own unique projects and areas of emphasis.
WestPac Communities has become a bit of a passion project for Patrick Smith, as he seeks to bring quality housing to students at universities around the nation. WestPac Communities is the student housing arm of WestPac, with a mission to provide student housing that’s high-quality, well-serviced, reliable, innovative, and profitable, as well as lifestyle apartment projects rich in amenities to attract residence
In addition to future plans to continue investing in quality student housing that meets the modern needs of today’s students, some recently completed student housing developments by WestPac Communities are listed below.
- The Landings at Chandler Crossings
- The Club at Chandler Crossings
- The Rocks at MSU
- The Village at Chandler Crossings
- Gaslight Village
- The Cottages
- Abbot Manor
- NoCa Lofts
WestPac Development represents the ever-expanding portfolio of development projects that have been a key aspect of Patrick Smith’s tenure at the company.
Together with banks, private investors, and joint investments, WestPac’s projects include 5,000+ apartments, seven hotels, five senior living communities, and dozens of single-family communities, condos, master planned communities, resorts, hotels, and office or mixed-use retail spaces and warehouse buildings.
Now with over 30 years of experience, WestPac Development employs 350+ people and seeks to develop investment opportunities that will optimize yields for investors and safeguard capital every step of the way.
WestPac Development properties include Acacia Creek Business Park, Aerovista Business Park, and Railroad Square.
As the arm of WestPac responsible for developing hotels and temporary living spaces, WestPac Hospitality has become known for injecting new life into existing buildings and starting developments from scratch to create must-visit destinations in some of the nation’s most desirable locations.
It is in these hotel projects that Patrick Smith’s architectural background seems to shine brightest, allowing him to get creative with the way these hotels are built to delight and inspire guests.
- The Residences at Little Nell, Aspen
- Base Village, Snowmass, Aspen
- Viceroy Snowmass, Aspen
- Cerro Hotels & Resorts
- Sandman Santa Barbara
WestPac Investments range from condo complexes to independent living facilities nationwide. Their properties include Parkwood Condominiums, Assisted Living at Garden Creek, Independent Living at The Oaks and The Palms, and Memory Care at Sydney Creek.