In December, 2009, Pathfinder and its co-branded, Colorado-based fund (Pittman Pathfinder Colorado Opportunity Fund, LLC) acquired a residential real estate portfolio comprised of 64 residential units, 108 residential lots and a multi-family development site from a regional bank. We intend to sell or lease the condo units and to hold the vacant lots for sale in several years.

The Colorado Portfolio is comprised of eight separate residential projects, including a total of 49 completed townhome/condo units, 15 partially completed condo units, 35 ready-to-build single family residential lots, two ready-to-build duplex lots, a multifamily development site and 71 near ready-to-build condo lots. The diversity of the portfolio allows Pathfinder to employ numerous bulk and individual sale strategies.