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Pathfinder Partners, LLC Acquires Bel Villaggio Retail Center in Temecula, CA

September 18, 2013
Continuing to expand its investment portfolio, Pathfinder Partners, LLC – a San Diego-based firm which makes opportunistic investments in real estate assets and defaulted loans – announced today it has acquired Bel Villaggio I and II and Bel Villaggio III, two specialty retail centers in Temecula, California.

In separate transactions totaling nearly $18.5 million, the properties were purchased from two different CMBS special servicers. C.W. Capital sold the 77,000-square-foot Bel Villaggio I and II – which houses Macaroni Grill, Navy Federal Credit Union, Cosi and Original Pancake House among others – for $12.75 million. Bel Villaggio III, a 40,000-square-foot center which is home to Shogun Restaurant, Aiyara Thai Cuisine and REVE Salon & Spa was sold by Torchlight Investors for $5.7 million.

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Pathfinder Partners Purchases La Mesa Townhomes For $3.125 Million

June 3, 2013
San Diego-based Pathfinder Partners, LLC announced today that it has acquired 16 unsold units at Aragon – a Mediterranean-style townhome community at 7705, 7715, 7725 and 7745 El Cajon Blvd. in La Mesa, Calif. The 48-unit attached home community was developed in 2005 by Barratt American, which sold 32 units to individual homeowners from 2005 through 2007.

The new two- and three-story units, which range from 1,052 to 1,377 square feet, are move-in ready, and built above secure underground parking. An adjacent parcel of land for 10 additional townhomes was included in the transaction; Pathfinder anticipates completing construction on these units in 2014. The 16 units and the land were acquired for $3.125 million.

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Pathfinder Partners, LLC Acquires 144-Unit Tempe Multifamily Project

May 20, 2013
Continuing to expand its footprint in the Phoenix marketplace, Pathfinder Partners, LLC – a San Diego-based firm which makes opportunistic investments in real estate assets and defaulted loans – announced today it has acquired Copper Creek, a 21-building, 144-unit multifamily community in Tempe, Ariz.

This $16.4 million purchase of the community from Equity Residential marks Pathfinder’s eighth – and its largest – acquisition in the Phoenix metropolitan area.

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Pathfinder Partners Acquires Lakewood, Colorado Commercial Project

December 12, 2012
Marking the company’s eighth Colorado acquisition, San Diego-based Pathfinder Partners, LLC has purchased two of the four buildings within the Garrison Business Park – a fully-leased, class B, flex industrial and office complex located at 9195-9197 W. 6th Avenue, Lakewood, Colo., 80215.

Pathfinder purchased the two buildings – spanning 49,000 square feet of functional office, laboratory and warehouse spaces with nine roll-up truck doors, 16-foot high ceilings and extensive parking – from the real estate owned department of a CMBS special servicer. Both buildings are currently leased to three tenants – commercial contractor Pinkard Construction Company, medical and rehabilitation equipment distributor ATG Rehab and environmental design and construction services contractor Golder Associates, Inc.
According to Lorne Polger, senior managing director of Pathfinder Partners, the property was built in 2009 by First Industrial Realty Trust, a publicly-traded REIT, and has been institutionally owned and operated for the past several years.

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Pathfinder Adds New Multi-Family Property to Portfolio

October 12, 2012
Continuing to expand its footprint in the Phoenix metropolitan area, Pathfinder Partners, LLC – a San Diego-based firm specializing in opportunistic investments in distressed real estate assets, defaulted loans and value-add properties – has acquired McKinley Court Apartments, a 40-unit apartment building at 815 N. Third Ave. in downtown Phoenix, Arizona.

Pathfinder and its partner, Metrowest Development, acquired the property for $1.65 million, marking Pathfinder’s 12th multifamily acquisition of 2012.

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Pathfinder Partners Purchases Luxury Townhome Community in Riverside

August 23, 2012
San Diego, CA – Expanding its California presence, Pathfinder Partners, LLC, a San Diego-based company specializing in making opportunistic investments in real estate properties and defaulted loans, has acquired Tuscan Townhomes, a luxury, 63-unit, townhome project located at 11511 Magnolia Avenue in Riverside, California.

Pathfinder and its operating partner, Stratford Partners, acquired the property for $10.55 million and plan to implement a $240,000 program to upgrade townhome interiors, as well as improve common area amenities.

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Pathfinder Partners, LLC Closes Pathfinder Partners Opportunity Fund III, L.P.

July 10, 2012
Pathfinder Partners, LLC, a San Diego-based company that invests in distressed real estate and defaulted loans, has closed Pathfinder Partners Opportunity Fund III, L.P., the firm’s third fund focused on acquiring real estate assets in major markets throughout the western United States.

According to Mitch Siegler, senior managing director and co-founder of Pathfinder, the $57.5 million fund, which held its initial closing in May, 2011, had its final closing in May, 2012. “We have already deployed the majority of the Fund capital – concluding 17 portfolio investments – and are in the initial planning stages for Pathfinder Partners Opportunity Fund IV, L.P.,” Siegler said. With an emphasis on multifamily investments, the portfolio has several properties in each of southern California, Seattle, Phoenix and Denver, as well as in other major markets in the western U.S. Among the Fund’s recent investments are Wellshire Arms, a 107-unit apartment complex in Denver, Colorado, Dorsey Place, a 90-unit condominium project in Tempe, Arizona, and the senior mortgage on The Sanctuary, a 100-year-old church in Seattle, Washington, that was converted into a 12-unit, luxury townhome project.

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Pathfinder Adds Two New Multi-Family Properties to Portfolio

June 27, 2012
San Diego, CA- Bringing its number of 2012 transactions to eight, Pathfinder Partners, LLC – a San Diego based firm specializing in opportunistic investments in distressed real estate assets and defaulted loans – has recently closed two transactions in Denver, Colorado, and Long Beach, California.

In Denver, Pathfinder and its partner, Bruckal Properties, Inc., acquired the Wellshire Arms Apartments, a 103,000-square-foot, 12-story, 107-unit apartment community located in the historic Observatory Park neighborhood. Earlier this month, Pathfinder purchased Le Park Apartments, a 40-unit, 34,000-square-foot multifamily complex located in Long Beach’s popular Bixby Knolls neighborhood. Working with partner, RyaNik Holdings, LLC, Pathfinder acquired the property directly from a regional bank.

According to Mitch Siegler, senior managing director of Pathfinder, the firm is initiating significant capital improvement programs at the communities, which will both be available as rentals. “These properties reflect Pathfinder’s bullish outlook for Denver and Southern California and are consistent with our long-term strategy to acquire properties at well below peak market pricing,” he said.

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Pathfinder Partners, LLC Expands Acquisition Team

April 11, 2012
San Diego, CA- Poised for further growth, Pathfinder Partners, LLC – a San Diego-based firm which makes opportunistic investments in distressed real estate assets and defaulted loans – has hired distressed real estate veteran Tony O’Neill as its director of acquisitions and Jon Mesa as acquisitions analyst.

Both come to the firm from Voit Real Estate Services, where O’Neill was previously a vice president, leading a brokerage team focused exclusively on loan and real estate-owned (REO) transactions. In this capacity, he helped close over $175 million in non-performing and sub-performing commercial loans and REO assets. Mesa was previously a financial analyst for Voit’s O’Neill & Askew Team, specializing in distressed note and asset sales in California, Arizona and Nevada.

According to Lorne Polger, senior managing director of Pathfinder Partners, the addition of O’Neill and Mesa is another reflection of Pathfinder’s rapid growth and bullish outlook on its future business prospects. “We’ve closed four transactions initiated by Tony during the past several years and have come to know him well. He has shown himself to be incredibly persistent, an exceptionally hard worker and a strategic thinker, and will fit in well with the Pathfinder corporate culture,” Polger said. “Mesa is also a skilled commercial real estate professional, and will work effectively with Tony as we position ourselves for further growth.”

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Pathfinder Partners Acquires Another Seattle-Area Apartment Community

March 26, 2012
Seattle, WA- Marking its third Seattle-area acquisition since July, Pathfinder Partners LLC – a San Diego-based firm which makes opportunistic investments in distressed real estate assets and defaulted loans – has acquired a 78-unit apartment community at 29421 Pacific Highway South, in Federal Way, Wash.

The View at Redondo, purchased for $5.1 million from the real estate-owned department of a private lender, is located in a working class neighborhood south of Seattle in close proximity to major employers, including the Port of Tacoma and Weyerhaeuser Company.

According to Lorne Polger, senior managing director of Pathfinder Partners, this latest purchase reflects Pathfinder’s bullish outlook on the Seattle area multifamily market. In February, Pathfinder acquired the senior loan and foreclosed on the 29-unit Chelsea Court II condominium project near Totem Lake in Kirkland. and in July, 2011, Pathfinder acquired the senior loan on The Sanctuary, a century-old church in Seattle’s Capitol Hill neighborhood that was converted into 12 luxury townhomes. Polger notes that Chelsea, which is being operated as a rental community, is already 50 percent leased and sales at The Sanctuary have been robust – with one-half of the community sold during the initial 60 days of marketing.

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