San Diego-based firm acquires apartments in Boulder

BOULDER — A San Diego-based real estate investment firm has purchased the Villa del Prado and Chateau apartments in Boulder for a combined $24.2 million.

Pathfinder Partners Inc. bought the 50-unit Villa del Prado at 635 Mohawk Drive for $15 million, and the 32-unit Chateau Apartments across the street at 665 Mohawk Drive for $9.2 million.

Local investors using the entity Boulder Properties Investors LLC had purchased the two complexes in 2013 for $16.7 million, according to public records.

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Villa del Prado was constructed in 1974 and consists of three, two- and three-story buildings. The property has controlled-access entry, a heated parking garage, indoor pool, a spa and sauna, plus a clubhouse and fitness center. Units feature fireplaces and either patios or balconies.

Constructed in 1968, Chateau has all two-bedroom units in four two-story buildings. The complex has covered parking and a heated pool. Units contain patios or balconies and fireplaces.

Brent Stuhley, an acquisitions analyst with Pathfinder Partners, said the company will be renovating the interior, exterior and common areas of the properties. Pathfinder Partners has hired Griffis Blessing Inc. based in Colorado Springs to manage the property.

Pathfinder Partners, together with development partner Niwot-based 150 Main LLC, purchased the former Butterball turkey-processing plant and its 27.5 acres of land in Longmont in 2014 where the new owners are working on a mixed-use project that plans to have a 250-unit apartment complex, commercial and retail uses.