Photo courtesy of Pathfinder Partners LLC

Photo courtesy of Pathfinder Partners LLC

San Diego-based Pathfinder Partners LLC has acquired a 126-unit apartment community near Seattle for $13.6 million, the company announced.

Officials said Cedardale Apartments is located in Federal Way, Wash., south of Seattle, and the deal marks Pathfinder’s seventh property purchase in the Seattle-area market.

Cedardale was built as condominiums in two phases between 1981 and 1983, and is currently operated as a rental community.

Pathfinder Partners, founded in 2006 by Mitch Siegler and Lorne Polger, focuses on investments and renovations of “value-add” properties, often buying from financial institutions, liquidating funds and owners of distressed assets.