MINNEAPOLIS, MN - Timberland Partners announces its acquisition of four multifamily communities totaling 818 units in December, 2013. “Timberland Partners had a successful year with the total purchase of six new multifamily communities in 2013,” said Matt Fransen, Vice President of Investments for Timberland Partners. “We are particularly excited about the addition of four new apartment acquisitions in December and the positive momentum it has brought our organization leading us into the New Year. We plan to be very active pursuing additional apartment investments in 2014.”
The Carrington at Four Corners is a quality, 330-unit property constructed in 1998 with a number of high-quality amenities including a large clubhouse, fitness center, outdoor swimming pool with sundeck, covered pavilion, BBQ and picnic areas, volleyball court, car wash and children’s playground. The Carrington at Four Corners is strategically located just 10 minutes from Walt Disney World, one of the largest single site employers in the country with approximately 66,000 employees. The community will undergo major renovations including extensive landscaping improvements, new signage, exterior paint, and a resort-style clubhouse.
Northview Park, a 200 unit community, is located in Sterling Heights, MI and was built in 1995. The community features balconies and patios, central air and heat, washer/dryer connections, fully equipped kitchens with energy efficient gas appliances, clubhouse with an internet café, outdoor pool and grilling areas. Northview Park is a quality, Class B property in an excellent location near many large employers.
The Park at Olathe Station (formerly Indian Meadows) is a 144 unit community located in Olathe, KS. Built in 1995, The Park at Olathe Station is a Class B property in a quality location with a number of attractive amenities including private entries, updated appliance packages, a clubhouse with lounge, outdoor pool and children’s playground. The community is located in a high-quality school district and directly south of a retail development that includes anchor tenants Super Target, Best Buy and AMC Theaters. Large employers in the area include Sprint, Embarq, Garmin and Farmers Insurance.
Green Meadows, a 144 unit Class B community, is located in Belleville, MI. The community was built in 1995 and features private entries, central air and heat, washer/dryer connections, clubhouse with internet café and Wi-Fi, fitness center, outdoor pool, grilling areas and children’s playground. Green Meadows has a desirable location with easy access to the Detroit Metropolitan Airport, the University of Michigan and the University of Eastern Michigan.
“We are pleased about the addition of these properties to our portfolio. Multifamily fundamentals continue to strengthen. In the past several years we have invested heavily in our operating platform which has provided us the confidence and ability to expand beyond our Midwestern footprint. We look forward to 2014 and the opportunities for additional growth in new markets,” says Executive Vice President of Operations, Mark Moore.
Timberland Partners currently owns 8,355 apartment units and 541,000 square feet of commercial property in nine states. For more information, please contact Matt Fransen, Vice President of Real Estate Investments, at mfransen@timberlandpartners.com or 952-843-2031.