The company s portfolio properties have remained more than 95 percent leased during pandemic.
Bloomington-based Timberland Partners is launching its eighth multi-asset real estate fund – Timberland Partners Apartment Fund VIII – with a goal of raising $50 million. This follows its previous fund, which closed in December after raising $80 million.
Timberland is not looking to Wall Street or large institutional investors.
“It’s predominantly retail investors. I would say it’s 90 percent individual high-net worth investors,” said Sam Eaton, director of investor relations for Timberland. “We do have a number of private family offices and wealth managers who place their clients with us as well.”
“Areas of concern” showing in other metro areas for multifamily. Apartments along the Midtown Greenway in Minneapolis Shutterstock
A new analysis of commercial real estate loans backed by multifamily properties found “areas of concern starting to appear in major U.S. markets.” That’s according to New York-based Trepp, which tracks data on commercial mortgage-backed securities (CMBS).
The apartment building boom has been running uninterrupted for several years across the U.S. Now Trepp says that it is seeing signs that the market is “fraying” in some cities.
Trepp notes that the overall apartment market remains solid compared to retail and hospitality properties, which have been particularly pummeled by the pandemic.