Big Fremont apartment complex is bought for more than $125 million

FREMONT — A big apartment complex in Fremont with hundreds of units has been bought by a veteran Bay Area real estate firm with a nationwide reach in a deal that topped $125 million.

Pathfinder Village apartments at 39800 Fremont Blvd. has been bought by an affiliate that’s linked to 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 on May 3 with the Alameda County Recorder’s Office.

The deal for the 246-unit apartment building shows that investors still hunger for residential properties in the Bay Area.

Palo Alto-based Pacific Urban Investors also obtained a $63.1 million loan from Berkeley Point Capital at the time of the transaction to help finance the purchase, the county records show.

The just-purchased Pathfinder Village offers apartments with private patios or balconies, a fitness center and swimming pool.

“We are apartment experts with experience investing in and executing asset strategies for well over 200 apartment communities,” Pacific Urban said on its website.

The company’s investments include apartments in California, Washington state, Colorado, New York state, Connecticut, New Jersey, Maryland and Virginia.

“Our communities provide needed housing for nearly 20,000 residents,” Pacific Urban said in its website post.

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