Patrick Borchard - Seeking Out Distressed Apartment Buildings
Based in Chicago, Patrick Borchard serves as the chief financial officer of the privately held real estate investment trust (REIT) Pangea Properties. His firm focuses on acquiring distressed apartment buildings and re-positioning them for long-term ownership and cash flows. In total, the firm has acquired more than 10,000 Class B and Class C apartments, significantly renovated and stabilized them through the direct investment of over $150 million in each of purchase and construction investments. Patrick Borchard and his team have managed the sourcing of over $250 million of debt financing for the real estate portfolio and platform. Through the REIT’s investment strategy, their apartments typically represent some of the nicest properties available in the neighborhoods in which they are located.
Mr. Borchard manages diverse aspects of Pangea Properties’ operations, including leveraged finance, financial accounting, and investor relations. He also manages risk and oversees human resources for the firm, which has nearly 500 employees. Mr. Borchard’s firm earned the Chicago Association of Realtors’ Good Neighbor Award annually from 2012 to 2014 and was ranked among the top 50 firms on Inc. magazine’s list of the 5000 Fastest-Growing Private Companies in 2013. Patrick Borchard maintains a strong community profile and is an officer with the Swift Panda Foundation. The nonprofit invests in low-income communities and provides apartment housing for families in need.