Minneapolis based Timberland Partners is pleased to announce the acquisitions of Sullivan Square, located in Bentonville, Arkansas and Parkway Lakeside, located in O’Fallon, Illinois. Founded in 1992, the company now owns and manages 71 apartment communities totaling 14,509 units in its portfolio spanning 15 states. This is the fifth property Timberland Partners owns in the St. Louis area and first property in Arkansas.
The 535-unit acquisition was funded by Timberland Arkansas I, LLC. The 232-unit acquisition was funded by TP Parkway Lakeside, LLC. Timberland Partners anticipates offering additional investment opportunities as it continues to pursue a strategy of aggressive growth in the multi-family real estate market.
Sullivan Square is a Class A property, built in 2017-18, consisting of one, two and three bedroom apartments and townhomes, hosting amenities such as a resort-style pool, fitness center, clubhouse, and grilling pavilion. Units feature stainless steel appliances, nine-foot ceilings, granite countertops, wood type floors, full size washer/dryer and direct access garages.
Timberland Partners Chief Investment Officer, Matt Fransen, said “Northwest Arkansas has been a region that has been on our radar for a few years now. You can’t help but be excited about the growth of the region and the high quality of life the area provides. Sullivan Square is an attractive asset that provides an outstanding living experience for its residents. We’re looking forward to continuing our growth throughout Northwest and central Arkansas.”
Parkway Lakeside is Class A property, built in 2011, consisting of one and two bedroom townhome style floorplans, with amenities such as a resort-style saltwater pool, two off-leash dog parks, fitness center, fire pit, and clubhouse. Units feature stainless steel appliances, nine-foot ceilings, granite countertops, wood type floors, fireplaces, full size washer/dryer and direct access garages.
Timberland Partners Acquisitions Specialist, Brad Swenson, said “Parkway Lakeside is architecturally appealing with best-in-class finishes and amenities, with an equally appealing location. O’Fallon is an affluent area, we feel strongly about the fundamentals of this asset and region long-term.”
About Timberland Partners
Timberland Partners is a real estate investment and management firm which currently owns 14,509 apartments in 15 states.