PORTLAND, OR – Pathfinder Partners, a San Diego-based private equity firm specializing in multifamily real estate investments, announced the acquisition of East of Eleven Apartments in Portland, Oregon for $22.3 million. The investment was made from Pathfinder Partners Opportunity Fund VIII, L.P. (Fund VIII), raised in 2020 to make opportunistic multifamily investments resulting from the pandemic.
East of Eleven is an 84-unit, mid-rise property built in 2019. The property is in the desirable Buckman submarket, known for its tree-lined streets, eclectic shops, and trendy bars and restaurants. While distressed because of high vacancy during the pandemic, leasing activity has accelerated during the past several months, with occupancy approaching 85%.
We believe properties like East of Eleven provide an brilliant long-term opportunity well suited for our Fund VIII portfolio, said Mitch Siegler, Co-Founder and Managing Director of Pathfinder. This is a sought after, high-energy, vibrant neighborhood, combined with superior amenities, providing tenants the conveniences they desire while offering our investors exposure to recovering markets in a post-pandemic environment.
East of Eleven s amenities include subterranean parking, an elevator, an indoor/outdoor community room, bike storage room, pet wash station and secure access, among others. The units feature quartz countertops, vinyl plank flooring, stainless steel appliances, high-end washer/dryers, and air conditioning, an uncommon feature in most Portland multifamily apartments.
In addition to Portland, Fund VIII invests in Seattle, Sacramento, San Diego/Southern California, Phoenix and Denver.

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ATLANTA, GA – 37th Parallel Properties announced the acquisition of Parkside Vista, a 240-unit, 2007-built multifamily asset located in Atlanta, GA on behalf of their investors and joint venture partner, Apta Properties. With this acquisition, 37th Parallel has bought over 500 units representing over $100 million in value in the Atlanta MSA in the last twelve months.
“We are excited to add Parkside Vista to our growing portfolio, a quality asset in one of the most transformational nodes in Atlanta,” said Dan Chamberlain, Managing Partner. “Atlanta’s affordable, pro-business environment has driven significant job and population growth alongside industry diversification. The property is located near 285 and I-85 North East in the I-85 corridor, a booming economic corridor that has been the leader in population and employment growth in the Atlanta MSA for the past decade. Additionally, roughly three miles south of the property is Assembly Yards, a multi-billion dollar, 165-acre mixed-use redevelopment that should spur continued growth in Northeast Atlanta,” says Chamberlain.
The property benefits from simple access to several of the region’s most powerful economic drivers, such as Perimeter Center (36 million sq ft office), Buckhead (21 million sq ft office), Century Center (2 million sq ft office), and Emory / CDC (40,500 jobs). The property features a mix of one-, two-, and three-bedroom units with large floorplans averaging 1,103 square feet. Apartment and community amenities include nine-foot ceilings, balconies, a state-of-the-art fitness center, and a large saltwater swimming pool.
“Parkside Vista is located in an outstanding, high barrier-to-entry suburban submarket whose growth has only accelerated since the onset of the pandemic,” said Doug Fraser, who manages the acquisition efforts for the firm. “The supply-demand fundamentals in the submarket remain stellar, with only one multifamily asset under construction within a 6.5-mile radius of the property, paired with one of the lowest submarket vacancy rates in the metro. This supply-demand imbalance has resulted in 12.7% submarket rent growth over the last 12 months, accelerating our original business plot,” says Fraser.

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BURIEN, WA – Canyon Partners Real Estate and American Capital Group announced their joint venture to develop Kinect @ Burien, a 230-unit apartment project located in the Seattle suburb of Burien, Washington. Canyon invested $25.6 million of equity into this project, which is located in a qualified opportunity zone. The joint venture also simultaneously closed on a $51.5 million senior construction loan.
This investment marks Canyon’s second multifamily project in partnership with ACG in the past two years. Canyon and ACG also partnered on Kinect @ Lynnwood, another apartment project in nearby Seattle suburb Lynnwood. In total, Canyon has invested in nine Qualified Opportunity Zone projects to date, capitalizing over $700 million of real estate development projects.
“Similar to our other qualified opportunity zone venture with Canyon, this multifamily community will provide much needed housing to the greater Seattle area,” said B.J. Kuula, President at ACG. “We are proud to offer both an attractive and cost-effective housing option to residents and contribute to the economic growth of the region.”
Kinect @ Burien is located in downtown Burien one block west of Burien Town Square. The project will be conveniently located within reach of many of the area’s major employment hubs, including Kent Valley, Seattle-Tacoma International Airport and downtown Seattle and Bellevue. Once construction concludes, Kinect @ Burien will offer a mix of studio, one-bedroom and two-bedroom units along with secure, covered parking, a fitness center and outdoor community areas. Kinect @ Burien is participating in the City of Burien’s Multifamily Tax Exemption program, dedicating 20% of the project’s units as affordable housing.
The project will commence construction immediately and is expected to deliver during the summer of 2023.

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