Real Estate
16 Townhomes on El Cajon Boulevard and Adjacent Land Sold
16 townhomes in the 7700 block of El Cajon Blvd. were purchased by Pathfinder Partners for $3.125 million.
It was announced Monday that 16 townhomes at the Aragon complex in the 7700 block of El Cajon Boulevard in La Mesa were purchased by Pathfinder Partners, along with adjacent land fit to build an additional 10 townhomes.
The 48-unit Mediterranean-style attached townhome community was developed in 2005 by Barratt American, which sold 32 units to individual homeowners from 2005 through 2007. The 16 units and the land were acquired for $3.125 million.
The new two- and three-story units, which range from 1,052 to 1,377 square feet, are move-in ready. Pathfinder anticipates completing construction on the additional 10 units in 2014.
According to Lorne Polger, senior managing director of Pathfinder Partners, the units represent an attractive investment.
“This community fits our strategy of investing in well located markets with diversified economies, educated workforces and solid infrastructure,” he said.
A Pathfinder Partners press release contributed to this post.
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