Originally Published: ConnectCRE

Seattle-based Timberlane Partners has closed its multifamily real estate investment fund, Timberlane Acquisition Fund (TAF), with equity commitments surpassing $100 million.

TAF represents a closed-end private real estate fund designed for the acquisition of institutional multi-family assets across the West Coast and Mountain West regions. The fund, backed by ultra-high-net-worth investors, family offices, and RIA firms, builds on Timberlane’s track record of delivering returns, averaging over a 25% net IRR across sold assets since its founding.

Timberlane has acquired several assets through the fund, with one more under contract. All acquisitions were secured at an estimated 30% discount to replacement cost, according to Timberlane, including The Wilcox apartments in Ballard, which was acquired for 25% less than when it sold in 2018.

“Our fund strategy is straightforward: acquire high-quality multi-family assets in fundamentally attractive markets at substantial discounts, optimize their operational performance, and divest to institutional buyers when liquidity re-enters the market,” said Timberlane’s Jake Leibsohn.