SAN DIEGO-Continuing to expand its investment portfolio, Pathfinder Partners, LLC has purchased Bel Villaggio I and II and Bel Villaggio III, two specialty retail centers in Temecula.

In separate transactions totaling nearly $18.5 million, the properties were purchased from two different CMBS special servicers. C.W. Capital sold the 77,000-square-foot Bel Villaggio I and II – which houses Macaroni Grill, Navy Federal Credit Union, Cosi and Original Pancake House among others – for $12.75 million. Bel Villaggio III, a 40,000-square-foot center which is home to Shogun Restaurant, Aiyara Thai Cuisine and REVE Salon & Spa was sold by Torchlight Investors for $5.7 million.

To refresh and modernize the properties – consisting of ten, one-story buildings – Pathfinder is planning extensive renovations, including new awnings and building and monument signage and upgrades to the common areas, parking lot and landscaping as well as other property improvements. New shaded outdoor seating areas are also planned.