Timberlane Partners, a local private real estate investment firm, recently acquired Holly Terrace, Hidden Terrace and Manchester Heights, a three-property apartment portfolio totaling 92 units in Port Orchard, WA. Timberlane purchased the property for $8.65 million in an off-market sale.

All three properties were built in the 1970s and remain in original condition. The local family seller owned and managed the buildings for nearly 50 years. The portfolio acquisition was an ideal fit for Timberlane Partner, which is planning an extensive modernization and updating program to breathe new life into the properties.

The transaction was sourced and structured by Kidder Mathews. Brandon Lawler, Jerrid Anderson and Dylan Simon of The Simon and Anderson Team exclusively represented the buyer.

“The properties were family-held for nearly half a century and were an integral part of the family’s history,” said Lawler. “Our team was proud and honored to structure a transaction allowing all three legacy properties to pass into the hands of a competent buyer seamlessly.”