We are pleased to announce the initial closing of our latest real estate investment opportunity fund, Pathfinder Partners Opportunity Fund V, L.P. (“Fund V”).
Fund V, which aims to acquire primarily multifamily residential, value-add, and opportunistic real estate, held its initial closing on January 15, 2015. Accredited investors committed over $30 million to the fund and its affiliate, Fund V-A.
With a target raise of $100-$150 million, the fund will remain open to new accredited investors until December 2015.
“We’re thrilled to be introducing our new fund,” Mitch Siegler, our senior managing director and co-founder, said of Fund V. “We are excited to continue our investment strategy with this fund and look forward to building on the initial investor commitments throughout 2015. We have a robust pipeline of new investment opportunities and are optimistic that we will be able to deploy the capital quickly.”
Siegler also added that “While the commercial banks and CMBS special servicers have sold or otherwise resolved many problem loans in their portfolios, we expect to continue to find investment opportunities from them as well as fatigued owners who have struggled since the Great Recession to stabilize their properties or invest the necessary capital to optimize property performance.”
Fund V will follow the traditional Pathfinder investment model, acquiring value-add, opportunistic and financially distressed real estate in mid-tier cities throughout the West — San Diego, Denver, Phoenix, Seattle, and Portland to name a few.
Fund V is the latest and largest fund to date for Pathfinder which previously has had four prior investment funds. Since our company’s inception in 2006, Pathfinder has strategically invested more than a half billion dollars in real estate assets and engaged in over 75 asset transactions.