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UPDATED: Pathfinder Buys King Lofts Apts. in West Highland

Denver Multifamily Property Sells for $4.25M
January 14, 2014
King Lofts, a fully leased apartment complex at 3451 W, 38th Ave. in Denver's West Highland area, was purchased by Pathfinder Partners Funds for $4.25 million.

San Diego-based Pathfinder teamed with Tim Craft of The Craft Cos. LLC in Denver to acquire the three-story property consisting of 18 rental units above 2,700 square feet of ground floor retail space.

Developed in 2008 as a condominium project, the property was sold in foreclosure in 2012 before any units were sold. Pathfinder purchased the project from the successor owner, Continental Realty Advisors.

Jason Koch of Unique Properties represented both sides in this transaction.

The acquisition marks Pathfinder's 10th in Colorado. Other properties purchased by the opportunistic investment firm founded by investors Lorne Polger and Mitch Siegler in 2006 include the 107-unit Wellshire Arms in Observatory Park, Blake 27 row home project near Coors Field, Village at Hilltop townhome project near Cherry Creek, Hunters Chase condominiums in Parker, Garrison Park business center in Lakewood, Grant Street Mansion in downtown Denver, and a portfolio of foreclosed condominiums, townhomes and finished lots acquired from a commercial bank.
For more information about this transacxtion, please refer to CoStar COMPS #2913020.

Editor's Note: This article has been updated to correct the number of apartment units in the property and add additional details on the property and buyer.
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