Timberland Partners fund buys fifth property
Timberland Partners, real estate investment, management and development firm, has acquired a 206-unit apartment community in Hoover, Ala. The property, The Retreat at Rocky Ridge, will be rebranded as The Halston.
This is the fifth property the company has purchased through Timberland Partners Apartment Fund VIII (TPAF VIII), a multi-asset real estate fund created earlier this year, and the sixth acquisition of 2021.
Built in 1986, The Halston is a garden-style apartment community with spacious one- and two-bedroom floor plans. The upgraded apartment homes have walk-in closets, balconies or patios and updated cabinets and countertops in the kitchens. The property amenities include a clubhouse, fitness center, dog park, picnic area and resort-style pool. The property has been renovated and well maintained. Timberland Partners plans to make additional upgrades to both the exterior of the buildings and the individual apartments.
The Halston is located 15 miles sout