Originally Published: The Registry

Timberlane Partners today announced the successful closure of their multifamily real estate investment fund, TAF (Timberlane Acquisition Fund), 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 exceptional returns, averaging over a 25% net IRR across sold assets since its founding.

“Timberlane’s track record of success and transparency instilled confidence in both our existing and new investors to participate in our first institutional scale fund,” stated John Chaffetz, Co-Founder and Principal of Timberlane.

With multifamily property values down approximately 20% from their peak in July 2022, as reported by Costar, Timberlane swiftly acquired three assets through the fund, with one more under contract. All acquisitions were secured at an estimated 30% discount to replacement cost, according to Timberlane. Particularly noteworthy is The Wilcox apartments in Ballard, which was acquired for 25% less than when it last 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,” remarked Jake Leibsohn, a Partner at Timberlane.

To further capitalize on this market opportunity, Timberlane has strengthened its team in recent years, most notably with the addition of Jon Hallgrimson. With more than 35 years of experience at CBRE, where he facilitated transactions exceeding $27 billion, Hallgrimson brings unparalleled expertise to the firm.

“Adding a seasoned multi-family veteran like Jon Hallgrimson provides us with unique competitive advantage when it comes to acquisitions. His extensive experience includes selling or pitching on nearly every institutional multi-family building in the PNW,” said Dave Enslow, Co-Founder and Principal of Timberlane.