Pathfinder Partners Acquires Value-Add Multifamily Community in Phoenix Submarket
By: Pathfinder Partners
According to Mitch Siegler, senior managing partner at Pathfinder Partners, "Park Paloma presents an outstanding value-add investment opportunity with units that have never been renovated and significant upside to enhance the community's amenities. Located near the highly desirable Lower Arcadia neighborhood, Park Paloma is walking distance to the Arcadia Crossing Shopping Center, which includes Costco, Target and over two dozen other retail, restaurant and commercial tenants."
Constructed in 1973, Park Paloma offers a mix of one-bedroom/
The community is just eight miles northeast of downtown Phoenix near Highway 202 and Thomas Road, providing access to major employers such as JPMorgan Chase, IBM, Cisco and UBS and is less than six miles away from the Phoenix Sky Harbor Airport, the Phoenix Zoo and the Arizona State University, Tempe campus. Park Paloma is located within the highly ranked Scottsdale Unified School District.
According to Siegler, Park Paloma has compelling value-add investment opportunities, and Phoenix has strong market dynamics. "We plan to upgrade the units with new flooring, cabinets, appliances and fixtures. The Phoenix economy continues to be strong, propelled by the healthcare, education and professional services sectors – in the last three years, job growth in Phoenix has averaged 3.7%, more than double the 1.6% national average. Because of robust job growth – as well as over 2.9 million square feet of new construction and companies such as Nationwide and Deloitte expanding in the area – Phoenix appears poised for solid growth."
About Pathfinder Partners, L.P.
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, especially multifamily. Pathfinder has acquired or sold $1 billion of properties since inception and currently has more than $600 million in assets under management. For more information on the firm or current investment opportunities, visit www.pathfinderfunds.com or contact Mitch Siegler at email@example.com or 858-875-4455.