SAN DIEGO, CA, July 30, 2014 /24-7PressRelease/ -- San Diego-based private equity firm Pathfinder Partners, LLC and developer Lanshire Housing Partners, LLC have broken ground on Bahia Vista Townhomes, a 21-unit community in Chula Vista's up-and-coming Marina District.
Pathfinder, which specializes in opportunistic real estate investments, acquired the one-acre parcel in 2013, with completion of the multifamily project slated for the summer of 2015. The construction team includes Lanshire Development as lead general contractor, with Lanshire principal partner, Michael Kootchick handling project management duties. The project was designed by San Diego-based Rodriguez Associates Architects and Planners.
When complete, the community will be comprised of four, three-story Mediterranean style townhome buildings - with 13 three-bedroom/three-bathroom units and eight four-bedroom/ three-bathroom units, ranging from 1,600 to 1,800 square feet. Each unit will feature a private front entry, a balcony and a direct access, two-car garage.
The community's hub is an attractive common area with a secure gated entrance, a paved trail encircling the perimeter and an open park with a "tot lot" and seating areas. Interiors will feature contemporary kitchens with stainless steel appliances, solid wood cabinets, countertops/ backsplashes, modern light fixtures and natural stone and wood flooring, soaring nine-foot ceilings, wood blinds and plush carpeting.
"We were drawn to Bahia Vista for a number of reasons," said Pathfinder Partners' co-founder and senior managing director Lorne Polger. "The area is undergoing rapid redevelopment driven by Chula Vista's Bayfront Master Plan, which is poised to transform more than 550 acres of underused industrial property into a residential and resort destination." Additionally, Polger said, the property is located less than a mile from the coastline, just one block from the freeway entrance and one-half block from the Palomar trolley station. Bahia Vista is also minutes away from entertainment venues, including the Broadway Plaza, Knott's Soak City water park and Sleep Train Amphitheatre.
About Pathfinder Partners, LLC
Headquartered in San Diego, California, Pathfinder Partners was founded by Lorne Polger and Mitch Siegler in 2006 to make investments in distressed and opportunistic real estate and defaulted loans and to acquire properties with value-add opportunities. Since inception, Pathfinder has acquired notes and properties with original loan balances in excess of $675 million in more than 70 separate transactions. In addition to seeking opportunities to add value by providing liquidity to selling financial institutions, liquidating funds and long-standing owners, Pathfinder also seeks to maximize value through property enhancements, improvements in operations and marketing, property repositioning and other strategies. For more information, visit http://www.pathfinderfunds.com or contact Lorne Polger at (858) 875-4450.
About Lanshire Housing Partners, LLC
Lanshire Housing Partners has been renovating and developing quality luxury and affordable multifamily housing since 1995. Lanshire, headquartered in southern California, specializes in developing small to mid-size infill communities and building with an extremely high level of detail. For more information, visit http://www.lanshirehousing.com or contact Michael Kootchick at (619) 804-3417.
Contact: Sydnie Moore (619) 823-8488 email@example.com
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