Newmark Arranges $31.6 Million Sale and Financing of San Carlos Village Apartments in San Diego

February 18, 2026 9:00 AM

Newmark announces the Company has arranged the $31.6 million, off-market sale and $18.6 million acquisition financing for San Carlos Village, a 160-unit multifamily community located at 7707-7787 Tommy Street in San Diego.

Newmark Senior Managing Director Erik Anderson represented the buyer, Pathfinder Partners, a San Diego-based real estate investment firm specializing in multifamily assets across the western and central U.S. The seller, EFRSCV LLC (heirs of the original developer), was represented by Greg Gorsuch of Chamberlain Property Management. Vice Chairmen Robert Younkin and Garrett Meyers of Newmark’s Debt & Structured Finance group arranged the $18.6 million Fannie Mae loan to facilitate the acquisition.

“We are proud to have supported Pathfinder Partners on this off-market opportunity in one of San Diego’s most resilient and high-demand submarkets,” said Anderson. “Their expertise and robust value-add platform will ensure this is a top-tier asset in the marketplace for years to come.”

“Our ability to work hand-in-hand with our Investment Sales team allowed us to move quickly and deliver a seamless execution for Pathfinder,” said Myers. “That collaboration ensured the financing strategy was fully aligned with the acquisition from day one.”

Originally developed in 1980 by the current owner, San Carlos Village is a low density, sprawling complex spanning over 7.3 acres at the base of Cowles Mountain, one of San Diego’s most popular hiking destinations. The property is being renamed Cowles Landing under new ownership. Located in the San Carlos neighborhood, the asset benefits from strong market fundamentals, including a median home price of approximately $950,000 in the surrounding area, underscoring the premium residential appeal of the submarket.

About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the twelve months ended September 30, 2025, Newmark generated revenues of over $3.1 billion. As of September 30, 2025, Newmark and its business partners together operated from approximately 170 offices with over 8,500 professionals across four continents. To learn more, visit nmrk.com or follow @newmark.

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