MULBERRY, FL - Minneapolis based Timberland Partners is pleased to announce the acquisition of Huntington at Sundance, an apartment community located in Mulberry, Florida. Founded in 1992, the company now owns and manages 67 apartment communities totaling 13,068 apartment units in its portfolio spanning 13 states. This is the fifth property Timberland Partners now owns in the Florida market.
The 292-unit acquisition was funded from the Timberland Partners Investment Fund VI, LLC, and represents the fourth acquisition from fund six. Timberland Partners anticipates offering additional investment opportunities as it continues to pursue a strategy of aggressive growth in the multi-family real estate market.
Timberland Partners Vice President of Real Estate Investments, Matt Fransen, said “We are bullish on the apartment fundamentals and strong job growth metrics occurring throughout central Florida. We look forward to implementing a business plan that will further improve and modernize the community.”
Huntington at Sundance was built in 1998, and consists of one, two and three bedroom floorplans located on 22 acres, hosting amenities such as an outdoor pool, fitness center and clubhouse. An extensive $3 million renovation plan includes a new resort-style outdoor kitchen, updated landscaping and new roofing, with units receiving granite countertops, subway tile kitchen backsplash, stainless steel appliances and 2” faux wood blinds.
The seller was represented by JBM Institutional Multifamily Advisors.
Timberland Partners is a real estate investment and management firm which currently owns 13,068 apartments in 13 states. For more information, please contact Matt Fransen, Vice President of Real Estate Investments, at mfransen@timberlandpartners.com or 952.843.2031 or visit timberlandpartners.com.