Astoria Apartments Changes Hands For $18M
Pathfinder Partners, a San Diego-based company, recently acquired the Astoria Apartments in Fife for $18M. This is the real estate investment firm’s ninth Seattle-area purchase since 2011.
The Astoria is a 125-unit complex with 12 two-story buildings on 5.7 acres. The company plans to renovate some apartments and add washer/dryer units to all of them. It also plans upgrades to the landscape, hardscape and common areas.
“The Fife submarket enjoys high demand for multifamily housing due to its proximity to employment centers within the Seattle-Tacoma area, with approximately 700,000 jobs within 30 miles of Astoria,” said Pathfinder Partners Senior Managing Director Lorne Polger in a statement.
The transaction was brokered for both parties by Giovanni Napoli and Phil Assouad of Kidder Mathews.