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 […]
Acquisitions
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 […]
Property in Seattle Near Amazon Headquarters Trades at Double-Digit Discount
Originally published: costar.com A multifamily investor bought an office and apartment property in Seattle’s South Lake Union at a discount in what appears to be the region’s biggest commercial property sale of the year ranked by price. Timberlane Partners, one of the most active apartment investors in the Pacific Northwest over the past year, bought […]
Full-block South Lake Union property sells at 25% discount
Originally published: bizjournals.com A South Lake Union apartment and office property partially leased to Amazon has sold for $115 million in an off-market deal, buyer Timberlane Partners said Wednesday. The price is around a quarter less than the property’s assessed value of nearly $154 million, and about $35 million less than what project developer Vulcan Real Estate sold […]
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 Partners Acquires ‘Stack House’ in Seattle’s South Lake Union for $115MM
Originally published: news.theregistryps.com Seattle-based Timberlane Partners announced today that their closed-end private fund, Timberlane Acquisition Fund (TAF), along with an equity partner, has acquired Stack House Apartments and the Supply Laundry Building for $115 million (Ed. Note: $413,670 per unit gross, including the commercial property). According to King County records, J.P. Morgan bought Stack House in 2015 […]
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 […]
Seattle multifamily company closes $100 million fund as market bumps along the bottom
Originally Published: bizjournals.com Seattle-based Timberlane Partners has announced the successful closure of its multifamily real estate investment fund with over $100 million in equity. Backed by ultra-high-net-worth investors, family offices, and RIA (registered investment adviser) firms, the Timberlane Acquisition Fund is building on the track record of Timberlane, which says it has delivered returns averaging […]
Timberlane Partners Closes First Multifamily Real Estate Investment Fund with More Than $100MM in Equity Commitments
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 […]