FREMONT — A large apartment complex in Fremont with hundreds of units has been purchased by a veteran Bay Area real estate company with national reach in a deal that topped $125 million.
Pathfinder Village Apartments at 39800 Fremont Blvd. was acquired by a subsidiary related to Pacific Urban Investors, an active investor in apartment complexes in the United States.
Pacific Urban paid $127 million for the Fremont apartment complex, according to documents filed May 3 with the Alameda County Recorder’s Office.
The complex has 246 apartments, as shown by real estate websites.
Palo Alto-based Pacific Urban Investors also secured a $63.1 million loan from Berkeley Point Capital at the time of the transaction to help fund the purchase, county records show.
The brand new Pathfinder Village offers apartments with private patios or balconies, a fitness center and swimming pool.
The Pathfinder Village buyer is an experienced apartment owner, according to the company’s website.
“We are apartment experts with experience investing and executing asset strategies for over 200 apartment communities,” Pacific Urban states on its website.
The Company’s investments include apartments in California, Washington, Colorado, New York, Connecticut, New Jersey, Maryland and Virginia.
“Our communities provide needed housing for nearly 20,000 residents,” Pacific Urban said in the website post.