From The Real Deal · TRD Staff · · 40s
Timberlane Acquires Seattle Apartments for $83M
Timberlane Partners buys 336-unit Seattle-area apartment complex for $82.8 million amid tight supply.
In brief
Timberlane Partners buys 336-unit Seattle-area apartment complex for $82.8 million amid tight supply. Timberlane Partners acquired 336 units of Canopy Apartments near Boeing for $82.8 million as supply remains constrained in the Puget Sound region. Originally reported by The Real Deal.
Timberlane Partners Acquires Property
Timberlane Partners bought 336-unit Canopy Apartments near Boeing for $82.8 million.
Seller and Capital Partners
Rise Properties Trust sold the property for $80.3 million in 2019, with EOS Residential Investors and LaSalle Investment Management as partners.
Tight Supply in Puget Sound
The Northend market has 94.9% occupancy and only 642 units under construction, limiting new supply.
The headline
Timberlane Partners acquired 336 units of Canopy Apartments near Boeing for $82.8 million as supply remains constrained in the Puget Sound region.
