(Feb. 14, 2022) – Real estate investment, management and development firm Timberland Partners is pleased to announce the acquisition of Maple Village Apartments in Pell City, Ala. This is the first property Timberland has acquired through Timberland Partners Apartment Fund IX— a $75 million apartment investment fund launched earlier this year.
Built in 2005, the 160-unit Maple Village Apartments is a Class B-apartment building with one, two and three-bedroom floor plans. The homes have private, exterior entrances, detached garages, walk-in closets and balconies or patios. Apartment homes include washer and dryer connections, high ceilings and well-equipped kitchens. The community features a clubhouse with a 24-hour fitness center, dog park, playground, outdoor grilling station and resort-style swimming pool. Once the deal is finalized, Timberland will make additional upgrades to apartment units.
Maple Village Apartments is located about 30 miles east of Birmingham, Ala. in an emerging market with a high-quality school system and a strong employment sector. Large employers like Eissmann Group Automotive, Oerlikon Balzers, Benjamin Moore and St. Vincent’s Health System are driving wage growth and the local tax base. A Honda Manufacturing Plant has spurred new development in housing, entertainment and related industries in Pell City. Preformed Windings recently opened a new high-voltage coil manufacturer in the community complementing the 40-acre Cogswell Industrial Park and the $9 million Premiere Cinertainment, a 50,000 square-foot entertainment center.
The Jefferson State Community College Pell City campus, Logan Martin Lake and the Talladega Speedway are also a short drive from the apartments.
“ Maple Village Apartments is a great fit for our portfolio, located in an emerging market with strong value and potential for our investors and quality living for residents. We are very pleased to be able to strengthen our portfolio in the Birmingham area and the state of Alabama with this acquisition, said Aaron Spiegle, acquisition specialist for Timberland Partners. “There is great opportunity to enhance the resident experience through our management approach and planned community upgrades.”
This is the third property in the Timberland portfolio in the Birmingham area, and fourth in the state of Alabama. In addition to Maple Village Apartments, Timberland also owns and manages The Halston and The Trails at Cahaba River in Birmingham and Capital Park at 72 West in Huntsville.
About Timberland Partners Minneapolis-based Timberland Partners now owns and manages a portfolio of 88 communities in 17 states, totaling over 19,500 apartment units. It offers a boutique investment firm experience rooted in the values of integrity, transparency and honesty. To learn more visit www.TimberlandPartners.com.