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 News
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. […]
Timberlane Partners Buys 132-Unit Multifamily Community in Seattle for $45.2MM
Originally published: news.theregistryps.com An apartment complex in Seattle’s Ballard neighborhood traded hands recently at a loss for the seller. The Wilcox was purchased by an entity affiliated with Timberlane Partners for $45.2 million, or approximately $342,045 per unit, according to King County public records. The seller was an entity affiliated with J.P. Morgan. Located at […]
Ballard apartment building sells for less than it did in 2018
Originally published: bizjournals.com The Wilcox apartment building in Ballard traded for $45.2 million in a deal recorded Thursday by King County. The 132-unit, 144,000-square-foot building is at 2003 NW 57th St. The buyers are a joint venture between Seattle-based Timberlane Partners’ acquisition fund TAF and Santiago, Chile-based Stars REI. The seller is affiliated with J.P. […]