Minneapolis-based Timberland Partners Investments acquires new construction Class A apartment complex in Lake St. Louis, Mo.
MINNEAPOLIS (Aug. 3, 2020) – Timberland Partners Investments has acquired Synergy at the Meadows, a newly constructed apartment community in Lake St. Louis, Mo. This is the fifth real estate acquisition made through Timberland Partners Apartment Fund VII (TPAF VII.)
TPAF VII, Timberland Partners’ most significant real estate fund, was launched in January with the goal of raising $100 million to acquire and manage class A and B multifamily rental properties in the Midwest and Southeast markets of the United States. The fund has raised more than $50 million to date.
Synergy combines best-in-class tenant amenities with a holistic living experience. Construction was finished in 2020 and the community is about 40 minutes west of downtown St. Louis, Mo. in an affluent and fast-growing neighborhood. The property is located in the Meadows at Lake St. Louis Lifestyle Center, close to shopping, dining, and entertainment options. This prime address also offers residents walkable access to local boutiques, fitness centers, live concerts and a nearby farmers market.
“Synergy is a great example of the caliber of apartment communities we targeted for acquisition when we launched Timberland Partners Apartment Fund VII,” shared Brad Swenson, Acquisition Specialist for Timberland Partners. “It’s a beautiful complex, adjacent to a lifestyle center in an up-and-coming area, and provides a full suite of amenities for the residents. As we implement our property management team on-site, we’re confident we can realize significant value on the deal for our investors and partners.”
Synergy at the Meadows offers one, two and three-bedroom apartment homes. Each apartment has an open floor plan and bar seating. Patio and balconies are available. These homes also boast a gourmet kitchen, nine-foot ceilings, stainless steel appliances, granite countertops, LVT floors, tile backsplashes, and full-size washers and dryers.
The community has many amenities designed to make residents feel at home, including a large community lounge, two fitness centers, a pool, multiple courtyards with grilling stations, an indoor café and music lounge, and a dog park.
The Synergy deal is consistent with Timberland’s real estate investment strategy. The firm has been aggressive in the current real estate market in acquiring properties at attractive prices that are primed to produce cash flow and increase value in the short-term, while maintaining a long-term hold strategy.
Upon closing, Timberland Partners will own eight properties totaling 2,186 units in the St. Louis, Mo. market. The other Timberland Partners owned properties in the area are: Green Mount Lakes, Parkway Lakeside, Pelican Cove, Vance Station, Willowbend, The Finn, and Meadowridge.
Minneapolis-based Timberland Partners owns and manages a portfolio of 79 apartment communities in 15 states for a total of over 17,000 apartment units. It offers a boutique investment firm experience rooted in the values of integrity, transparency and honesty. To learn more visit www.TimberlandPartnersInvestments.com.
