SAN DIEGO—There's a distinct supply/demand imbalance for apartment assets nationally and in the western US markets, so investors must be creative to find opportunities, Pathfinder Partners' senior managing director Mitch Siegler tells GlobeSt.com. As we recently reported, the firm, which specializes in opportunistic and value-add multifamily/residential real estate investments, recently added two Phoenix properties valued at more than $32 million to its multifamily portfolio: the Vintage Apartments in Gilbert, AZ, acquired for $18.6 million; and Avalon Apartments in Northeast Phoenix, near the 24th and Camelback corridor, purchased for $13.7 million.
Both properties fit the firm's investment philosophy of acquiring value-add multifamily properties in select mid-tier cities throughout the West. We sat down with Siegler to discuss his firm's strategies and target markets as well as the multifamily outlook for 2018.
GlobeSt.com: Do you see the appetite for multifamily continuing into 2018 and beyond?
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
