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Pathfinder plans final close for residential fund

by Andrea Waitrovich

Pathfinder Partners LLC has planned a final close for its Pathfinder Partners Opportunity Fund IV on May 31. The fund launched in October 2012 with a $150 million fundraising goal.

The value-added/opportunistic fund will acquire distressed residential rental properties. Pathfinder Partners Opportunity Fund IV is aiming for a 20 percent return by purchasing foreclosed apartment buildings and single-family homes, as well as defaulted loans on similar properties. The firm’s strategy is to rehabilitate properties, operate them as rentals and sell them when they are stabilized.

Pathfinder Partners Opportunity Fund IV is one of the firm’s largest funds. Pathfinder Partners Opportunity Fund III closed in July 2012 with $57.5 million, and Pathfinder Partners Opportunity Fund II had a $50 million fundraising goal.

Pathfinder Partners, headquartered in San Diego, is a real estate investme

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