San Diego-Based Pathfinder Partners Sells 18-Unit Townhome Community in Portland, Oregon

    SAN DIEGO, CA, October 27, 2016 /24-7PressRelease/ -- Pathfinder Partners, LLC, a San Diego-based firm specializing in opportunistic real estate investments, announced today it has sold Calico Townhomes - at 531 128th Avenue SE in Portland's Mill Park neighborhood - for $4.1 million.

Calico, built in 2008 as for-sale townhomes, was acquired by Pathfinder in 2013 and has been operated as a rental community. The three-story, 18-unit property consists of 15 two-bedroom, three-and-one-half bath units and three three-bedroom, three-and-one-half bath units ranging from 2,000 to 2,450 square feet. All homes feature hardwood flooring, granite countertops, stainless steel appliances and vaulted ceilings. Several homes contain elevators.

During the term of its ownership, Pathfinder completed exterior renovations including landscaping upgrades, new asphalt, accent painting and a new patio railing system. Interior renovations include the construction of "bonus rooms" - ground-level dens with bathrooms located in the rear of the existing, oversized garages.

According to Lorne Polger, co-founder and senior managing director of Pathfinder Partners, "Following the completion of the renovations, we were able to significantly improve the tenant profile and increase rents and ancillary income. Portland continues to grow with an increasing population, strong employment growth and a high demand for housing."

Pathfinder currently owns two other multifamily properties in the Portland metro area - Red Tail Canyon Townhomes, a 100-unit project on Mount Scott in Southeast Portland and Sienna Lofts, a 75-unit property in Gresham.

The property was purchased by a Portland-based 1031-exchange buyer represented by Jack Stephens of HFO Investment Real Estate, LLC. Pathfinder was represented by Cody Hagerman, also of HFO Investment Real Estate, LLC.

About Pathfinder Partners, LLC

Headquartered in San Diego, Pathfinder Partners was founded by Mitch Siegler and Lorne Polger in 2006 to make opportunistic and value-add real estate investments. Pathfinder has acquired or sold $1 billion of properties since inception. In addition to seeking opportunities to add value by providing liquidity to selling financial institutions, liquidating funds and fatigued owners, Pathfinder also seeks to maximize value through property enhancements, improvements in operations and marketing, property repositioning and other strategies. For more information on Pathfinder, visit http://www.pathfinderfunds.com or contact Lorne Polger at [email protected] or at 858-875-4450.

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