Hanna Heights, a six-story, 35-unit apartment building located near downtown Tacoma has been sold to Pathfinder Partners, a real estate investment firm based in San Diego, Calif., officials announced Wednesday.

Pathfinder Partners acquired the property for approximately $7 million through a court-appointed receivership sale following the bankruptcy of the Tacoma-based developer Prium, which constructed the building in 2007. Today, the building (pictured below), which is located at 415 6th Ave., is fully leased and includes 24 one-bedroom/one-bath units; 10 two-bedroom/two-bath units; and one three-bedroom/two-bath unit. Apartment homes range in size from 854- to 1,429-square-feet. Hanna Heights includes seven two-story penthouses, a ground-level parking garage with 44 spaces, and private storage units.

“We have been tracking Hanna Heights for more than two years and are pleased to finally be able to conclude this acquisition,” said Pathfinder Partners Senior Managing Director Lorne Polger. For now, Hanna Heights will continue to operate as a rental community. The company plans to complete several common area improvements, such as new hallway wall art, lighting, and paint; designer upgrades to the leasing office and lobby; and modernization of the onsite gym.

“The project provides dual exit strategies,” added Polger. “In the future, we can sell individual condominiums or market the property as a stabilized rental community.”

Pathfinder Partners has made five other acquisitions in Washington State over the past several years, including The Sanctuary, a 12-unit townhome project in Seattle’s Capitol Hill; Chelsea Courte, a 29-unit condo project in Kirkland; Redondo Terrace, a 78-unit apartment in Federal Way; Florera, 45 units within a 59-unit condo project in Seattle’s Green Lake; and the Anna, an 18-unit apartment project in Redmond.