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PR News | Accounts in Transit: BackBay Communications Guides Pathfinder Partners

PR News | Accounts in Transit: BackBay Communications Guides Pathfinder Partners
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Pacific Beach Apartment Complex Sold

A Pacific Beach complex with 24 apartments has been sold for nearly $14.9 million.
Pathfinder Partners sold Driftwood apartments, 3956-3996 Shasta St., to Sandor Shapery through one of his wholly-owned subsidiaries, G&E Driftwood Pref, LLC, according to Ed Rosen, Tyler Sinks, and John Chu, investment advisors with Berkadia’s San Diego office.
Rosen, Sinks and Chu represented Pathfinder Partners in what they said was one of the highest per-unit price paid for an apartment complex in Pacific Beach at more than $600,000 per apartment.
They said that in 2018, Driftwood underwent a $3 million renovation, rebuilding the complex to condominium specifications.
Driftwood has 24 two-bedroom, two-bathroom apartments that average 970 square feet. Each apartment has a patio or balcony, stainless steel appliances, quartz countertops, slab thermofoil cabinetry, gas stoves, and in-unit washer/dryers. ....

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Pathfinder Partners Sells Arizona Complex

Pathfinder Partners based in La Jolla has sold an Arizona apartment complex for $30.9 million.
The Sterling, a complex with 107 apartments in the Phoenix suburb of Gilbert, was acquired by Casa Anita Apartments, LLC.
Built on a 9.3-acre site in 2000, the complex of 13 residential buildings has six studio lofts, 21 one-bedroom, one-bathroom apartments, 40 two-bedroom, two-bathroom apartments, and 40 three-bedroom, three-bathroom apartments.
Pathfinder Partners acquired the property, previously known as The Vintage, in December 2017 and made $1.4 million in renovations before selling it.
The Sterling was 97% occupied at the time of the sale.
David Fogler of Cushman & Wakefield Multifamily Advisory Group brokered the transaction. ....

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