Follow on Google News News By Tag Industry News News By Place Country(s) Industry News
Follow on Google News | Pathfinder Partners Closes Sale of Chester Place Condominiums in PhoenixSan Diego Based Firm Sells Second Phoenix Multifamily Asset in Eight Months
By: Pathfinder Partners According to Lorne Polger, senior managing director of Pathfinder, his firm purchased Chester Place in November 2012 from the real estate owned (“REO”) department of a regional lender and implemented a $50,000 capital improvement program enhancing the property’s common areas. “We were drawn to the property because of its central downtown location, proximity to the Metro Light Rail and unique, modern floor plans,” Polger said. Pathfinder operated the property as a rental community. Chester Place includes 11 one-bedroom, one-and-one- Polger noted that the property was also appealing due to its pre-existing condominium map allowing Pathfinder to either sell the project in bulk or sell individual condos. The transaction was brokered by Eddie Chang and Alon Schnitzer of Phoenix-based ABI Multifamily team. About Pathfinder Partners, LLC Headquartered in San Diego, Pathfinder Partners was founded by Lorne Polger and Mitch Siegler in 2006 to make opportunistic investments in distressed real estate assets and value-add properties. In addition to seeking opportunities to add value by providing liquidity to selling financial institutions, liquidating funds and fatigued owners, Pathfinder also seeks to maximize value through property enhancements, improvements in operations and marketing, property repositioning and other strategies. For more information on Pathfinder and the firm’s newest fund, Pathfinder Partners Opportunity Fund V, L.P., visit www.pathfinderfunds.com or contact Lorne Polger at lpoger@pathfinderfunds.com or at 858-875-4450. Contact: Sydnie Moore (619) 823-8448 (tel:%28619% End
Account Email Address Account Phone Number Disclaimer Report Abuse
|
|