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Follow on Google News | Pathfinder Partners Adds to Growing Arizona Portfolio With $32.3 Million in Multifamily AcquisitionsBy: Pathfinder Partners Originally constructed in 2000 as condominiums, Vintage is a 107-unit garden-style community located at 1303 West Juniper Avenue (https://maps.google.com/? Avalon, a 117-unit multifamily community, is centrally located at 3851 N. 28 (https://maps.google.com/? According to Lorne Polger, senior managing director of Pathfinder Partners, his firm has been bullish on Phoenix for many years. "Phoenix enjoys a highly diversified economy that is among the fastest growing in the nation, driven by strong population growth and the in-migration of many employers – factors which have contributed to very strong apartment demand," he said. "There's a hole in the market for upgraded, suburban apartments at lower rents and we can create considerable value at these properties by upgrading them, improving management, adding desired amenities and renovating interiors, while offering affordable rents. Both properties are prime examples of Pathfinder's value-add apartment renovation and repositioning strategies." Pathfinder has been quite active in Arizona since 2011 with 14 acquisitions and eight dispositions. The Vintage transaction was brokered by David Fogler and Steven Nicoluzakis of Cushman & Wakefield. The Avalon transaction was brokered by Trevor Koskovich, Bill Hahn and Jeffrey Sherman of HSK Multifamily Colliers International. About Pathfinder Partners, LLC Headquartered in San Diego, Pathfinder Partners was founded by Mitch Siegler and Lorne Polger in 2006 to make opportunistic and value-add real estate investments. Pathfinder has acquired or sold $1 billion of properties since inception. 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 the firm or Pathfinder's latest investment fund, Pathfinder Partners Opportunity Fund VII, L.P., visit www.pathfinderfunds.com or contact Mitch Siegler at msiegler@pathfinderfunds.com or 858-875-4455 (tel:(858)%20875- End
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