<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0707</schemaVersion>

    <submissionType>D</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001711421</cik>
        <entityName>MLG/PF Breckenridge Co-Investor LLC</entityName>
        <issuerAddress>
            <street1>13400 BISHOPS LANE</street1>
            <street2>SUITE 270</street2>
            <city>BROOKFIELD</city>
            <stateOrCountry>WI</stateOrCountry>
            <stateOrCountryDescription>WISCONSIN</stateOrCountryDescription>
            <zipCode>53005</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>262-938-4403</issuerPhoneNumber>
        <jurisdictionOfInc>WISCONSIN</jurisdictionOfInc>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <edgarPreviousNameList>
            <value>None</value>
        </edgarPreviousNameList>
        <entityType>Limited Liability Company</entityType>
        <yearOfInc>
            <withinFiveYears>true</withinFiveYears>
            <value>2017</value>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>MLG PF III Manager</firstName>
                <lastName>LLC</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>13400 Bishops Lane</street1>
                <street2>Suite 270</street2>
                <city>Brookfield</city>
                <stateOrCountry>WI</stateOrCountry>
                <stateOrCountryDescription>WISCONSIN</stateOrCountryDescription>
                <zipCode>53005</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Timothy</firstName>
                <middleName>J</middleName>
                <lastName>Wallen</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>13400 Bishops Lane</street1>
                <street2>Suite 270</street2>
                <city>Brookfield</city>
                <stateOrCountry>WI</stateOrCountry>
                <stateOrCountryDescription>WISCONSIN</stateOrCountryDescription>
                <zipCode>53005</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>J.</firstName>
                <middleName>Michael</middleName>
                <lastName>Mooney</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>13400 Bishops Lane</street1>
                <street2>Suite 270</street2>
                <city>Brookfield</city>
                <stateOrCountry>WI</stateOrCountry>
                <stateOrCountryDescription>WISCONSIN</stateOrCountryDescription>
                <zipCode>53005</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Andrew</firstName>
                <middleName>C.</middleName>
                <lastName>Teske</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>13400 Bishops Lane</street1>
                <street2>Suite 270</street2>
                <city>Brookfield</city>
                <stateOrCountry>WI</stateOrCountry>
                <stateOrCountryDescription>WISCONSIN</stateOrCountryDescription>
                <zipCode>53005</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Andrew</firstName>
                <middleName>E.</middleName>
                <lastName>Bruce</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>13400 Bishops Lane</street1>
                <street2>Suite 270</street2>
                <city>Brookfield</city>
                <stateOrCountry>WI</stateOrCountry>
                <stateOrCountryDescription>WISCONSIN</stateOrCountryDescription>
                <zipCode>53005</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Barry</firstName>
                <middleName>S.</middleName>
                <lastName>Chavin</lastName>
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            <relatedPersonAddress>
                <street1>13400 Bishops Lane</street1>
                <street2>Suite 270</street2>
                <city>Brookfield</city>
                <stateOrCountry>WI</stateOrCountry>
                <stateOrCountryDescription>WISCONSIN</stateOrCountryDescription>
                <zipCode>53005</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Craig</firstName>
                <middleName>A.</middleName>
                <lastName>Lashley</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>13400 Bishops Lane</street1>
                <street2>Suite 270</street2>
                <city>Brookfield</city>
                <stateOrCountry>WI</stateOrCountry>
                <stateOrCountryDescription>WISCONSIN</stateOrCountryDescription>
                <zipCode>53005</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Greg</firstName>
                <lastName>Kammerer</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>13400 Bishops Lane</street1>
                <street2>Suite 270</street2>
                <city>Brookfield</city>
                <stateOrCountry>WI</stateOrCountry>
                <stateOrCountryDescription>WISCONSIN</stateOrCountryDescription>
                <zipCode>53005</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Andrew</firstName>
                <middleName>C.</middleName>
                <lastName>Sinclair</lastName>
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            <relatedPersonAddress>
                <street1>13400 Bishops Lane</street1>
                <street2>Suite 270</street2>
                <city>Brookfield</city>
                <stateOrCountry>WI</stateOrCountry>
                <stateOrCountryDescription>WISCONSIN</stateOrCountryDescription>
                <zipCode>53005</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Promoter</relationship>
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            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>David</firstName>
                <lastName>Binder</lastName>
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            <relatedPersonAddress>
                <street1>13400 Bishops Lane</street1>
                <street2>Suite 270</street2>
                <city>Brookfield</city>
                <stateOrCountry>WI</stateOrCountry>
                <stateOrCountryDescription>WISCONSIN</stateOrCountryDescription>
                <zipCode>53005</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
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        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Andrew</firstName>
                <lastName>Jumbeck</lastName>
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            <relatedPersonAddress>
                <street1>13400 Bishops Lane</street1>
                <street2>Suite 270</street2>
                <city>Brookfield</city>
                <stateOrCountry>WI</stateOrCountry>
                <stateOrCountryDescription>WISCONSIN</stateOrCountryDescription>
                <zipCode>53005</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Ryan</firstName>
                <lastName>Mueller</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>13400 Bishops Lane</street1>
                <street2>Suite 270</street2>
                <city>Brookfield</city>
                <stateOrCountry>WI</stateOrCountry>
                <stateOrCountryDescription>WISCONSIN</stateOrCountryDescription>
                <zipCode>53005</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Billy</firstName>
                <lastName>Fox</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>13400 Bishops Lane</street1>
                <street2>Suite 270</street2>
                <city>Brookfield</city>
                <stateOrCountry>WI</stateOrCountry>
                <stateOrCountryDescription>WISCONSIN</stateOrCountryDescription>
                <zipCode>53005</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Rick</firstName>
                <lastName>Stoll</lastName>
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            <relatedPersonAddress>
                <street1>13400 Bishops Lane</street1>
                <street2>Suite 270</street2>
                <city>Brookfield</city>
                <stateOrCountry>WI</stateOrCountry>
                <stateOrCountryDescription>WISCONSIN</stateOrCountryDescription>
                <zipCode>53005</zipCode>
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            <relatedPersonRelationshipList>
                <relationship>Promoter</relationship>
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            <relationshipClarification></relationshipClarification>
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        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Todd</firstName>
                <lastName>Parks</lastName>
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            <relatedPersonAddress>
                <street1>8750 North Central Expressway</street1>
                <street2>Suite 1010</street2>
                <city>Dallas</city>
                <stateOrCountry>TX</stateOrCountry>
                <stateOrCountryDescription>TEXAS</stateOrCountryDescription>
                <zipCode>75231</zipCode>
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            <relatedPersonRelationshipList>
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            <relationshipClarification></relationshipClarification>
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        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Steve</firstName>
                <lastName>Kelly</lastName>
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            <relatedPersonAddress>
                <street1>13400 Bishops Lane</street1>
                <street2>Suite 270</street2>
                <city>Brookfield</city>
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                <stateOrCountryDescription>WISCONSIN</stateOrCountryDescription>
                <zipCode>53005</zipCode>
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            <relationshipClarification></relationshipClarification>
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    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Commercial</industryGroupType>
        </industryGroup>
        <issuerSize>
            <revenueRange>No Revenues</revenueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06c</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>false</isAmendment>
            </newOrAmendment>
            <dateOfFirstSale>
                <yetToOccur>true</yetToOccur>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>false</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isEquityType>true</isEquityType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>50000</minimumInvestmentAccepted>
        <salesCompensationList></salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>4000000</totalOfferingAmount>
            <totalAmountSold>0</totalAmountSold>
            <totalRemaining>4000000</totalRemaining>
            <clarificationOfResponse></clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>0</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>0</dollarAmount>
                <isEstimate>true</isEstimate>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
                <isEstimate>true</isEstimate>
            </findersFees>
            <clarificationOfResponse></clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>89066</dollarAmount>
                <isEstimate>true</isEstimate>
            </grossProceedsUsed>
            <clarificationOfResponse></clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>MLG/PF Breckenridge Co-Investor LLC</issuerName>
                <signatureName>Andrew C. Teske</signatureName>
                <nameOfSigner>Andrew C. Teske</nameOfSigner>
                <signatureTitle>Vice President</signatureTitle>
                <signatureDate>2017-07-11</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
