Pathfinder Partners secures $137m for class-B apartment fund

San Diego–based Pathfinder Partners, a private equity firm specializing in multifamily real estate investments, has added more than $5 million in new commitments to its Pathfinder Income Fund, bringing total fund capital to more than $137 million.

The Pathfinder Income Fund focuses on stabilized, class-B apartment properties. The firm’s primary target markets include Seattle, Portland, Sacramento, San Diego, Phoenix and Denver, although the fund may also invest in other metro areas.

To date, the vehicle has acquired 11 multifamily properties with a total of 1,279 units across four markets in the western United States, including Sacramento, San Diego, Phoenix and Denver. The fund’s most recent acquisition was Chestnut Ridge, a 156-unit, garden-style apartment community in Denver, acquired in September.

Since its founding in 2006, Pathfinder has acquired or sold more than 135 properties with a total value of more than $1 billion.

“Across real estate