Originally published: therealdeal.com Investors have picked up two apartment complexes in Seattle’s South Lake Union in separate deals for double-digit discounts. San Francisco-based Carmel Properties bought a seven-story, two-building complex with 275 apartments at 1212 Harrison Street for $92 million, or $22 million less than what it traded for five years ago, the Puget Sound Business […]
Chezyl Luzon
278 SLU units trade at a loss for $115M
Originally published: djc.com The Stack House apartment complex, at 1280 Harrison St. and related addresses, has sold for $115 million. Local buyer Timberlane Partners announced the deal before the county recorded two related sales on Thursday. The seller was an LLC associated with J.P. Morgan Asset Management, which acquired the full-block development in 2015 for […]
South Lake Union Apartment, Office Property Sells at Discount
Originally published: ConnectCRE A South Lake Union apartment and office property partially leased to Amazon has sold for $115 million in an off-market deal. Timberlane Partners, a Seattle-based real estate investment, development, and asset management company with a focus on multifamily, was the buyer, reported the Puget Sound Business Journal. The price is roughly a quarter less than the […]
Timberlane closes $100M fund
Originally Published: djc.com SEATTLE — Timberlane Partners launched a new value-add acquisition fund last year, but never announced the goal — even as some of the money was being spent up and down the West Coast on older multifamily properties. Earlier this month, the investor/developer said the fund had closed with $100 million in contributions. Timberlane says that […]
Seattle Firm Closes First Acquisition Fund To Buy Apartments at Discount Prices
Originally Published: costar.com Seattle-based Timberlane Partners closed its first multifamily investment fund with more than $100 million intended to buy discounted apartments as investors capitalize on a sales slowdown that has shaken up property values. The company said it closed its Timberlane Acquisition Fund backed by ultra-high-net-worth investors, family offices and registered investment adviser fi […]