$173M Multifamily Real Estate Acquisition: Timberlane Partners Buys 532-Unit Seattle Complex
Timberlane Partners completed its largest real estate acquisition to date, purchasing the 532-unit Jackson Apartments in Seattle's Central District for $173 million. The multifamily real estate transaction, executed through a joint venture with Santa Monica, California-based investment firm PCCP, closed December 31 and marks the largest acquisition for the Seattle-based firm founded in 2011 by real estate executives Dave Enslow and John Chaffetz.
The acquisition from Vulcan Real Estate, which developed the property at 2401 S. Jackson St. in 2020, surpasses Timberlane's previous record purchase of $138.5 million for the Queen Anne Collection in March, according to county property records and a LinkedIn post from the investment firm.
Seattle Multifamily Real Estate Market Rebounds
The Jackson Apartments deal closed at the end of the strongest year for multifamily investment volume in Seattle since 2021. The Puget Sound region logged at least $5.8 billion in apartment sales in 2025, the highest amount since total sales volume topped more than $7.4 billion four years ago, according to CoStar data.
Last year's transactions included Pine Street Group's $295 million sale of the 654-unit Via6 development across the street from Amazon's Seattle headquarters, representing the region's largest single-property multifamily deal since December 2022.
Timberlane's Real Estate Acquisition Strategy
The Jackson Apartments acquisition represents the latest in Timberlane's expansion across the Puget Sound region. The firm has acquired 27 apartment complexes in the greater Seattle and Olympia areas since its founding, according to the company's website.
The Queen Anne Collection purchase included 245 units across four buildings above 63,551 square feet of retail real estate in Seattle's Queen Anne neighborhood.
Diversified Commercial Real Estate Portfolio
Beyond multifamily real estate, Timberlane has expanded its investment footprint across multiple property sectors and geographic markets. The firm has acquired multifamily, hospitality real estate, industrial real estate, and retail real estate properties in California, Colorado, Illinois, Texas, and Utah over the past 15 years.
Sources
CoStar: Timberlane extends Seattle apartment buying spree with large year-end deal
Timberlane Partners: Company announcement