MINNEAPOLIS, MN - Minneapolis-based Timberland Partners announces its acquisition of Towne Park Apartments, a 204 unit community. “This is the seventh acquisition for Timberland Partners in the last year totaling 1,494 units,” said Matt Fransen, Vice President of Investments for Timberland Partners. “We’re excited to expand our geographic reach to Ohio with the addition of Towne Park and look forward to a successful year of multifamily acquisitions in 2014.”
Towne Park, a Class A community was built in 2004. It features full size washers and dryers in each home, balcony or patio, central air and heat, nine foot ceilings and open floor plans. The clubhouse includes a sitting area, fireplace, billiards table and fitness center. An outdoor pool and detached garages are also available.
“We are pleased about the addition of this property to our portfolio. Multifamily fundamentals remain strong, consequently, we expect continued demand and additional growth,” says Executive Vice President of Operations, Mark Moore.
Timberland Partners currently owns over 8,500 apartment units and 541,000 square feet of commercial property in ten states. For more information, please contact Matt Fransen, Vice President of Real Estate Investments, at mfransen@timberlandpartners.com or 952-843-2031.