**Timberlane Partners Acquires Queen Anne Collection in Seattle for $138.5 Million**
Seattle-based investment firm Timberlane Partners has acquired the Queen Anne Collection, a mixed-use portfolio in Seattle, for $138.5 million.
The four-building complex was purchased from Los Angeles-based RREEF Property Trust through the Timberlane Acquisition Fund, a closed-end private fund. The portfolio totals 244,000 square feet and includes a mix of studio, one-bedroom, and two-bedroom residential units.
Of the total transaction value, $92.4 million was attributed to the 245 residential units, while $46.1 million covered 63,551 square feet of ground-floor retail space. The retail portion is anchored by Trader Joe’s and features additional tenants including Bartell Drugs, U.S. Bank, and KeyBank.
Timberlane Partners remains active in the Pacific Northwest market. In a separate transaction late last year, the firm acquired a multifamily property located at 4600 Davis Avenue South in Renton’s city center for $71 million.
