Timberland Partners launches new apartment fund

Real estate investment, management and development firm Timberland Partners has launched a new multi-asset real estate fund, Timberland Partners Apartment Fund VII (TPAF VII).

The firm is seeking to raise $50 million to acquire and manage quality multifamily rental properties in suburban locations in secondary and tertiary markets, with strong growth fundamentals, and those that attract less interest from larger, institutional buyers. Timberland is acquiring class A properties in St. Louis and Tulsa, Okla., with plans to add more apartment communities across the central and southeastern United States.

Timberland Partners said it will work to increase the long-term value of properties acquired in TPAF VIII through lease-ups, strategic capital improvements and improved operations.

“We are very bullish on the multifamily real estate market,” said Bob Fransen, president of Timberland. “The state of world affairs has created exciting opportunities within the mu