Minneapolis-based real estate investment, management and development firm Timberland Partners’ largest real estate fund has reached the halfway point, with $50 million raised since the fund launched in January.
Through Timberland Partners Apartment Fund VII (TPAF VII), the firm plans to raise $100 million to acquire and manage class-A and -B apartment communities in the Midwest and Southeast markets of the United States, significantly growing its portfolio. Thus far, Timberland has acquired and is managing four properties that have been purchased as part of TPAF VII:
The Meridian at Walnut Creek in Rogers, Arkansas. (220 units)
Meadowridge Apartments in St. Peter’s, Missouri. (180 units)
The Trails at Cahaba River in Birmingham, Alabama. (400 units)
Encore Memorial in Bixby, Oklahoma. (248 units)
Despite COVID-19 disrupting the world’s economy and real estate market this spring, Timberland Partners made a strategic decision to sharpen and refine its investment focus to continue to locate quality assets that produce strong returns.
“We are pleased with the rapid progress of Timberland Partners Apartment Fund VII and fortunate to offer investors the chance to continue to participate,” said Robert Fransen, President of Timberland Partners. “We have always taken a long-term view with our investment strategy, and even in this uncertain economy, we have identified many opportunities to deliver value and positive returns for our partners.”
