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Pathfinder Closes Sale of Wellshire Apartments in Denver

May 15, 2014

Pathfinder Partners, LLC, a San Diego based firm specializing in opportunistic real estate investments, has closed the sale of The Wellshire – a 103,000-square-foot, 12-story, 107-unit apartment community in Denver, Colorado. The property was acquired by an affiliate of San Francisco-based Seagate Properties, Inc.

According to Lorne Polger, senior managing director of Pathfinder, his firm and partner Bruckal Properties, Inc., purchased the Wellshire Arms Apartments, in May 2012. “We acquired the property – which was built in 1962 – from the family of the original developer and then undertook a major renovation, rebranding it The Wellshire.” Read More »

Pathfinder Partners Acquires Homewood Suites Hotel in La Quinta, California

Februrary 6, 2014

$1.8 Million Property Improvement Program Announced

Marking its first investment in the hotel industry, Pathfinder Partners, LLC — San Diego-based firm specializing in opportunistic investments in real estate assets and defaulted loans — has partnered with Vesta Hospitality to acquire the 129-room Homewood Suites By Hilton® hotel, an extended stay property at 45-200 Washington Street in La Quinta, California.

Co-investor Washington-based Vesta Hospitality has been managing the property since 2010.

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Pathfinder Partners Acquires 18-Unit Townhome Development in Portland, Oregon

January 27, 2014

Multifamily Property Marks San Diego Firm’s Third Portland Acquisition

Continuing the expansion of its multifamily portfolio, San Diego-based Pathfinder Partners, LLC has purchased Calico Townhomes – a recently constructed, three-story, 18-unit Portland, Ore., townhome community – for $2.64 million.

Located at 531 128th Avenue SE in the Mill Park neighborhood, Calico Townhomes was developed in 2008 as a for sale townhome project and is currently being operated as a multifamily rental community.

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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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