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Hiawatha Aligns with Pathfinder’s Investment Strategy
San Diego-based Pathfinder Partners recently acquired the Hiawatha Apartments in Seattle for $28.775 million. Pathfinder made the investment through Pathfinder Partners Opportunity Fund VIII LP, an opportunistic fund focused on Western U.S. multifamily investments.
Located two miles south of downtown in the Jackson Place neighborhood, Hiawatha Apartments provides access to major highways and the corporate headquarters of Amazon, Starbucks, Zillow, Boeing, Alaska Airlines and Nordstrom.
“Seattle continues to be a strong market with a steady increase in apartment demand,” said Lorne Polger, co-founder and managing director of Pathfinder. “The acquisition of Hiawatha aligns with our strategy of investing in well-located apartments in resilient cities such as Seattle. Pathfinder Opportunity Fund VIII, raised in 2020 to capitalize on pandemic-related distress brought about by the pandemic, has now acquired three newly built apartment properties in Portland and Seattle, markets we expect to recover strongly as we emerge from the pandemic.”
Hiawatha, built in 2014, is comprised of 100 units, including a mix of studios, one- and two-bedroom units.
- ◦Sale/Acquisition
