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 […]
Timberlane News
Sumner Mill Opening Celebration
Today we had an onsite celebration to recognize the team behind the brand new Sumner Mill Apartments! Thank you to The Rush Companies, Avenue5 Residential, & Casey + Dechant Architects for your hard work in bringing this project to fruition. Learn more about Sumner Mill: sumnermill.com
Los Angeles Design Stays to Visit in 2024
Originally Published: estliving.com Los Angeles is celebrated for its vibrant design scene, which fuses myriad influences – from old Hollywood glamour to Desert Modernism – and is home to a notable collection of design stays and boutique hotels. In this roundup, we explore four distinctive destinations, from an elevated motel in Silver Lake to a tranquil […]
Timberlane Partners, Rush Cos. Open Sumner Mills Apartments
Originally Published: ConnectCRE The Rush Companies and Timberlane Partners have recently completed the construction of Sumner Mill, a new 162-unit, three-story apartment complex. Timberlane Partners developed the 5.7-acre project, with nine buildings designed by Casey + DeChant Architects. Located at 5816 162nd Ave E, Sumner, Washington, Sumner Mill features 162 studio, one, and two-bedroom apartments. Developed on 5.7 […]
Sumner apartment complex opens to tenants
Originally Published: Puget Sound Business Journal Timberlane Partners has opened the first phase of Sumner Mills, a 162-unit apartment complex recently completed in east Sumner. The Seattle-based company says it’s already seeing strong lease-up activity. “We’ve seen significant leasing momentum, with the initial phase of the community already achieving 30% occupancy,” Jorden Mellergaard, development manager […]
Timberlane and Rush open 162 Sumner units
Originally published: Daily Journal of Commerce Rush Cos. announced that it recently completed the construction of Sumner Mill, a new 162-unit, three-story apartment complex at 5816 162nd Ave. E. in Pierce County . That’s a little east of downtown Sumner, and north of Highway 410. Timberlane Partners developed the 5.7-acre project, with nine buildings designed by Casey + […]
Joint Venture Adds to Seattle Portfolio Through Discounted Apartment Acquisition
Originally published: CoStar A joint venture bought its second Seattle apartment complex in less than two months at a discount as investors capitalize on a sales slowdown that has shaken up property values. Seattle-based Timberlane Partners’ acquisition fund and Stars REI, based in Chile, paid $55 million, or about $334,000 per unit, for the 166-unit […]
Timberlane Partners, STARS REI Acquire Ballard MF for $55M
Originally published: ConnectCRE A joint venture between Timberlane’s Acquisition Fund and STARS REI purchased the Koi apartments, a six-story, 166-unit building in the Ballard district of Seattle for $55.5 million. The transaction, which equates to approximately $334,000 per unit, represents the joint venture’s second Ballard acquisition in the past two months, following The Wilcox. JLL’s Senior Managing Directors David Young and […]
Ballard multifamily asset trades for well below replacement cost
Originally published: Puget Sound Business Journal A joint venture of Timberlane Partners and STARS REI is the new owner of Ballard’s Koi Apartments, a 166-unit asset at 1139 NW Market St. The $55.5 million price is well below replacement cost, and $1.5 million less than what the then newly opened six-story property sold for 10 years […]
Timberlane pays over $55M for 166 Ballard units
Originally published: Daily Journal of Commerce The Koi Apartments, at 1139 N.W. Market St., sold this week for a little over $55.4 million, according to King County records. The seller was HLI Koi LLC, a REIT managed by CBRE, which acquired the property in 2014 for $57 million. That represents a small but not terrible loss. […]