Property Details
Repeat Sponsor  Below Market Rents  Below Market Occupancy 
Asset Profile
Value Add

Pathfinder Partners Opportunity Fund VII: A Multifamily and Residential Fund

Western U.S.

Multi-Family Fund
Pathfinder Partners, LLC San Diego, California
Pathfinder Partners, LLC
Targets
  • IRR 12-14%
  • Equity Multiple 1.6-1.8x
  • Hold Period 6Y
  • Minimum Investment $50K
  • Year 1 Cash on Cash N/R
  • Stabilized Cash on Cash 4-6%
  • First Distribution N/R
  • Distribution Frequency N/R
  • Co-Investment N/A
  • Preferred Return 8-9%
  • Investor Profit Share 80%
  • Asset Profile Value Add
  • Loan-to-Value 70%
  • Current Occupancy N/A

About this Fund

The Fund’s primary strategy is to invest in opportunistic and value-add, Class-B multifamily properties in seven markets in the western U.S. (Seattle, Portland, San Diego, Phoenix, Denver and, to a lesser extent, Sacramento and Las Vegas) where the company has considerable contacts and prior investment experience. Properties are generally acquired from long-term, private owners with a catalyst for sale (e.g., divorce, estate sale or partnership dispute), liquidating private equity funds (near the end of their fund term or because of financial distress) and non-profit organizations with excess/non-core real estate. Properties are often acquired at a discount to replacement cost. The Fund seeks to enhance values as the properties are improved and stabilized.

The Fund invests in properties which provide opportunities for adding significant value through strategic, hands-on asset management and property oversight and/or through significant property improvement, supporting meaningful increases in income. The value-add strategy includes investing in properties that have not been renovated, or which have been only partially renovated, and can be repositioned through the correction of deferred maintenance and enhancements to the property’s common areas, interior unit finishes and amenities.

Since inception in 2006, Pathfinder has acquired 107 separate real estate assets from a variety of sellers, including numerous financial institutions and both institutional and private sellers. Pathfinder has fully-cycled 68 of these properties, generating attractive returns for its investors. Pathfinder has distinguished itself as one of the leaders in the acquisition of smaller and middle-market, opportunistic and value-add multifamily real estate in the western U.S.

Key Points

  • Seasoned fund manager with excellent track record launching 7th opportunity fund
  • Outstanding brand reputation and deep relationships drive robust deal flow pipeline
  • Conservative underwriting approach; institutional level asset management
  • Disciplined and thoughtful use of debt leverage
  • Significant Sponsor Co-invest: Pathfinder Partners is contributing $5MM along side the investors.

Offered By

Pathfinder Partners, LLC

Pathfinder Partners, LLC

San Diego, California

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Assets Under
Management

Currently
$550MM 40+ assets
Exited
$535MM 50+ assets
Portfolio LTV
67%  
Historical
Realized Returns

Total IRR
27%  
Equity Multiple
1.6x  
Annual Cash
0%  
Years Of
Experience

As Principals
25+ years  
In Business
12 years  
Size
13 Staff * Dedicated investor relations
* All information is reported by Pathfinder Partners, LLC as of 4/30/2018.
Assets Under
Management

Currently
$550MM 40+ assets
Exited
$535MM 50+ assets
Portfolio LTV
67%  
Historical
Returns

Total IRR
27%  
Equity Multiple
1.6x  
Annual Cash
0%  
Years Of
Experience

As Principals
25+ years  
In Business
12 years  
Size
13 Staff * Dedicated investor relations
* All information is reported by Pathfinder Partners, LLC as of 4/30/2018.

Financials

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Offering Financial

Location Details

Western U.S.

The Fund is entirely focused on opportunities in seven Target Markets where Pathfinder has substantial previous investment experience, market knowledge and relationships. These major markets in the western U.S. include Seattle, Portland, Denver, San Diego/southern California, Sacramento, Phoenix and Las Vegas. The Target Markets are characterized by superior population and employment growth dynamics, an educated workforce, high-paying technology jobs, effective transportation corridors, and a variety of recreational and cultural activities.

Documents

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Offering Agreement Documents

Frequently Asked Questions

Below are some of the most frequently asked questions about this offering.

The Fund conducted its initial closing in March 2018 and has received $34,000,000 in investors' subscriptions (the "Initial Closing". Limited Partners admitted at the Initial Closing were deemed "Early Investors". The Fund is accepting additional Limited Partners at one or more additional closings held prior to the Final Closing. Interests acquired after the Initial Closing will be subject to a 0.5% per month (6.0% annual rate) interest charge on Contributed Capital, payable to prior-admitted Partners.

Yes, non-US residents are welcome to apply. Please contact the sponsor for more details.

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