The property asset involved in this transaction is the Copper Ridge apartments located at 4600 Davis Avenue South in Renton, WA. This multifamily asset consists of 325 units and was acquired for a total price of $70.7 million, with a loan amount of $56 million financed by Varde Partners. The apartments, built in 1983, feature one- to three-bedroom units along with amenities such as a pool, fitness center, and dog park.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $70,700,000
• Loan Amount: $56,000,000
• Lender: Varde Partners
• Landlord: Timberlane Partners
• Units: 325
• Market: Renton, WA
• Loan Type: Acquisition
• Address: 4600 Davis Avenue South

The key individuals and companies involved in this transaction include Timberlane Partners, who completed the acquisition of the Copper Ridge apartments, and Varde Partners, which provided the financing for the deal. This acquisition signifies Timberlane Partners' expansion in the multifamily housing market in Renton, WA, demonstrating their investment strategy in the area.