Originally published: costar.com Purchase of 532-unit complex marks largest acquisition to date for Seattle-based firm One of the Puget Sound region’s most prolific apartment investorsmade its biggest acquisition to date, paying $173 million to buy acomplex near Seattle’s Central District. Seattle-based Timberlane Partners bought the Jackson Apartments, a532-unit complex at 2401 S. Jackson St., from Vulcan […]
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PCCP JV Pays $173M for Seattle Apartment Property
Originally published: connectcre.com A joint venture between Timberlane Partners and PCCP has paid $173 million for Jackson Apartments, a 532-unit Seattle multifamily community in the city’s Central District. Vulcan Real Estate sold the property. The buyers closed the transaction through Timberlane Acquisition Fund II, a closed-end private acquisition fund, reported the Puget Sound Business Journal. The deal also included the 47,374-square-foot ground-floor retail space, anchored […]
In first sale, Vulcan fetches $173M for Jackson Apartments
Originally published: djc.com Its 532 Central Area units, plus Amazon Fresh, go to Timberlane. Who today remembers the old Red Apple grocery in the Central Area? That was demolished about seven years ago. In its place, at 2401 S. Jackson St., Vulcan Real Estate developed the 532-unit, midrise Jackson Apartments, working with Runberg Architecture Group and builder Exxel […]
Timberlane Partners, PCCP Acquire 532-Unit Jackson Apartments in Seattle for $173MM
Originally published: theregistryps.com Seattle continues to draw multifamily investors to its offerings. In a recent deal, Timberlane Partners, one of the Pacific Northwest’s most active multifamily investors, has completed its largest acquisition in the company’s 14-year history, paying $173 million, or approximately $325,187 per unit, for the 532-unit Jackson Apartments in Seattle’s Central District, according […]
PCCP JV Pays $173M for Seattle Community
Originally published: multihousingnews.com A joint venture between Timberlane Partners and PCCP has paid $173 million for Jackson Apartments, a 532-unit Seattle community within the city’s Central District. Vulcan Real Estate sold the asset. The buyers closed the transaction through Timberlane Acquisition Fund II, a closed-end private acquisition fund. The asset came online in 2020, with […]
Seattle company buys 532-unit Jackson Apartments from Vulcan Real Estate
Originally published: bizjournals.com One of the Pacific Northwest’s most active multifamily investors, Seattle-based Timberlane Partners, on Tuesday paid $173 million for the 532-unit Jackson Apartments that Vulcan Real Estate developed. It was a joint venture buy with investment manager PCCP, completed through Timberlane Acquisition Fund II, the firm’s second closed-end private acquisition fund. This is Timberlane’s […]
Seattle developer assembles Fremont lots for mid-rise apartment project
Originally published: bizjournals.com Story Highlights The number of homes on a mid-block property in Fremont will increase more than ninefold under the plan a Seattle developer announced Wednesday. Timberlane Partners has a contract to buy a trio of century-old rental properties on the 3600 block of Woodland Park Avenue North, said PJ Santos, the company’s senior […]
Seattle CRE investor traces his real estate success to farming roots
Originally published: bizjournals.com Dave Enslow, co-principal of Timberlane Partners, grew up on a small farm in Sumner where his family harvested corn and pumpkins and raised beef cattle. Though farming was a “tough way to make a buck,” it was also representative of the American dream, Enslow says. “Running a farm is about tending the […]
CRE veteran joins Seattle multifamily company as development director
Originally published: bizjournals.com PJ Santos on Monday posted on LinkedIn that he is the new senior managing director of development at Seattle-based Timberlane Partners. Santos, who has worked in commercial real estate in the Seattle region for 25 years, previously was senior managing director of development and acquisitions at Gemdale USA Corp. This spring, Gemdale closed offices […]
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 […]