TEMPE, AZ-San Diego-based Pathfinder Partners LLC acquired the 144-unit Copper Creek for its eighth buy in the metro area. The SoCal buyer paid Chicago-based Equity Residential Properties $16.1 million for ownership rights of the 1980s-built multifamily property.

Pathfinders Partners also plans a $1.6 million investment to the property at 3501 S. McClintock Dr. The upgrades will include a new clubhouse/gym, exterior paint and landscaping complete with a dog park. Select units will be outfitted with new flooring, cabinetry, countertops, finishes, fixtures, appliances and fresh paint. Also in the works is rebranding – and new signage will be installed. A spokeswoman with Pathfinder Partners tells GlobeSt.com that the new name has not yet been decided on, but should be within the next 30 days. She also says the company hired San Diego based Sunrise Management to manage the complex.

Copper Creek consists of one- and two-bedroom units and townhomes ranging from 711 square feet to 1,263 square feet. “This is an ideally located, value add property near Arizona State University and adjacent to the Loop 101, US 60 and I-10,” says Lorne Polger, senior managing director of Pathfinder Partners in a press release. “We believe ASU's (Arizona State University) continued growth will create increased demand for housing in the area and plan to add significant upgrades so the community will have even more appeal.”