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PLYMOUTH, MINN. — Minneapolis-based Timberland Partners has acquired Parkers Lake, a 248-unit multifamily community located in Plymouth. The garden-style, Class B property was built in 1988 and is situated within a larger master-planned community. Parkers Lake comprises a mix of one-, two- and three-bedroom units averaging 1,067 square feet each. Community amenities include a fitness center, two outdoor swimming pools, a resort-style bar/grill area, a business center, a playground, and a pond with walking trails and fountains. Timberland purchased the property from Principal Life Insurance Co. for an undisclosed amount. It plans to complete several capital improvements projects in the near-term.