FREMONT – A large apartment complex in Fremont with hundreds of homes was bought by a veteran real estate agency in the Gulf region with a national scope in a deal that exceeded $ 125 million.
Pathfinder Village Apartments at 39800 Fremont Blvd. was purchased by a subsidiary that is affiliated with Pacific Urban Investors, an active investor in apartment complexes in the United States.
Pacific Urban paid $ 127 million for the complex, according to documents filed May 3 at the Alameda County office.
The 246-unit residential deal shows that investors are still hungry for residential property in the Gulf region.
Palo Alto-based Pacific Urban Investors also received a $ 63.1 million loan from Berkeley Point Capital during the deal to help fund the purchase, according to county records.
The newly purchased Pathfinder Village offers apartments with private courtyards or balconies, a fitness center and a swimming pool.
“We are experts in apartments with experience in investing and implementing asset strategies for over 200 housing communities,” Pacific Urban said on its website.
The company’s investments include apartments in California, Washington, Colorado, New York, Connecticut, New Jersey, Maryland and Virginia.
“Our communities provide the necessary housing for nearly 20,000 residents,” Pacific Urban said in a statement on its website.