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SAN DIEGO — Newmark has brokered the sale of San Carlos Village, a multifamily community located at 7707-7787 Tommy St. in San Diego. Pathfinder Partners acquired the asset for $31.6 million from ERFSCV LLC (heirs of the original developer) in an off-market transaction.
Originally developed in 1980, San Carlos Village offers 160 apartments spread across 7.3 acres at the base of Cowles Mountain. The new ownership plans to rename the asset Cowles Landing.
Erik Anderson of Newmark represented the buyer, while Greg Gorsuch of Chamberlain Property Management represented the seller in the deal. Robert Younkin and Garrett Meyers of Newmark arranged an $18.6 million Fannie Mae loan to facilitate the acquisition.