(May 25, 2021) – Timberland Partners is pleased to announce the acquisition of a 288-unit townhome style apartment community in Tulsa, Okla. The property, Springs at Woodlands South, will be rebranded as The Aria at Woodlands South as part of the sale.
This is the fourth property Timberland Partners has purchased in the Tulsa market and the second it has acquired through the newly created Timberland Partners Apartment Fund VIII, a $50 million multi-asset investment fund launched earlier this year.
Built in 2015, The Aria offers spacious one, two, and three-bedroom floorplans with comfortable tenant perks and amenities. Each apartment has a private entry with a private balcony or patio. Apartments feature kitchen islands with in-unit washer and dryer and walk-in closets. Attached garage options are available. Residents have access to a resort-style swimming pool, dog park, pet spa, fitness center and outdoor grilling and entertaining space.
The Aria’s location makes it attractive to perspective residents. It is about 12 miles southeast of downtown Tulsa, near many shopping, dining and entertainment options, several healthcare centers and Oral Roberts University.
In addition to The Aria, Timberland also owns The Lakes, Riverchase and Encore Memorial in Tulsa, for a total of 1,320 apartments.
“The Aria is a beautiful property in an exciting market. We are very pleased to be expanding our presence in the Tulsa community and growing our portfolio with this acquisition,” said Mike Savides, Acquisitions and Finance Specialist at Timberland Partners. “We continue to see strong rental demand for townhome-like product, and we expect that demand to continue at The Aria. Through the Timberland Partners Apartment Fund VIII, our team will continue to capitalize on these opportunities to the benefit of our investment partners.”
Minneapolis-based Timberland Partners now owns and manages a portfolio of 83 communities in 15 states for a total of more than 18,000 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.