One of the country’s largest apartment owners has bought its fifth complex in the Tucson area.

The post Tucson Real Estate: National company adds 5th local apartment complex to its portfolio appeared first on Northland.

NEWTON, MA (August 21, 2019) – Northland Investment Corporation has announced the acquisition of Pima Canyon, the firm’s third Class A community within the Tucson submarket. Pima Canyon is a newly constructed asset that offers 240 one, two and three-bedroom apartments. This latest acquisition brings the firm’s Tucson portfolio to 2,032 units and makes Northland the second largest owner in the city’s metro area.

“As our company expands its presence throughout the Southwest, we continue to see tremendous value in Tucson,” said Matthew Gottesdiener, Chief Investment Officer of Northland Investment Corporation. “We’re excited that the acquisition of Pima Canyon adds another luxury asset to our portfolio and one that helps us offer a compelling unit mix to prospective residents in the region.”

Pima Canyon provides an opportunity to live within a beautiful gated community that boasts high-end finishes, 10’ ceilings, and a suite of amenities that includes a resort-style pool and spa, fitness center, luxurious club house and more. There is also potential for a second phase of development, which would add an additional 50 units. Northland will deliver immediate performance improvements to the property, which is adjacent to its other Tucson luxury assets, Villas at San Dorado and The Canyons at Linda Vista Trail. With this latest acquisition, Northland intends to leverage its scale in the market by offering residents a single source to access Tucson’s prime apartment options and resident experiences.

Tucson has undergone significant population and job growth, which combined with its limited housing supply, has helped contribute to its nation-leading increase in rental rates over the last three years. Northland has more than 25 years of experience in the region, with a portfolio that also includes Hilands I and II, and Promontory.

The post Northland Investment Corporation Adds Fifth Property to its AZ Portfolio with Pima Canyon appeared first on Northland.

Tucson-area apartment complexes continue to be a hot commodity for investors logging several recent sales.

A Massachusetts-based investment company bought The Canyons at Linda Vista Trail, a 228-unit luxury complex, for $41.2 million.
The gated community sits on 13 acres at 9750 N. Oracle Road and offers one- to three-bedroom units with nine-foot ceilings, hardwood floors and quartz countertops.

It is Northland Investment Corp.’s fourth purchase in the Tucson area, which has been a top performing market for the firm in the past two years.
“We are thrilled to be adding The Canyons at Linda Vista Trail to our portfolio in a market where we have experienced great success and see continued room for growth and expansion, given high demand and currently low levels of supply,” said Matthew Gottesdiener, chief investment officer for Northland.

The Canyons at Linda Vista Trail acquisition brings Northland’s multifamily portfolio to nearly 1,800 units locally. The firm also owns Villas at San Dorado, the Hilands complex at 5755 E. River Road and Promontory apartments at 60 W. Stone Loop.

To read the full article, visit https://tucson.com/business/tucson-real-estate-investors-snapping-up-apartment-complexes/article_66b8e7a1-4c76-588a-9b9f-c1803a4cae3d.html

The post Tucson Real Estate: Investors continue snapping up apartment complexes appeared first on Northland.

NEWTON, MA (July 11, 2019) – Northland Investment Corporation today announced the acquisition of The Canyons at Linda Vista Trail, a brand new construction asset in Oro Valley, Arizona. The property offers 228 one to three-bedroom high-end multifamily units across 13 acres and marks Northland’s fourth acquisition in Greater Tucson, which has been the firm’s top performing market over the last two years.

“We are thrilled to be adding The Canyons at Linda Vista Trail to our portfolio in a market where we have experienced great success and see continued room for growth and expansion, given high demand and currently low levels of supply,” said Matthew Gottesdiener, Chief Investment Officer of Northland Investment Corporation. “With our other assets in-market, Canyons will benefit greatly as it relates to staffing, contract negotiation and unit mix offering.”

The gated community offers resort-style living with premier features that include nine-foot ceilings, hardwood floors, quartz countertops, stainless steel appliances and beautiful views of the Santa Catalina Mountains. Residents will enjoy an amenity package that offers a state-of-the-art fitness center and spa, a swimming pool, outdoor grill areas, a bocce ball court, putting green, pet park and more. The community is located in close proximity to local parks such as the Canada Del Oro Riverfront, hiking areas, restaurants, schools, job centers and high-quality retail.

A highly sought-after market, Tucson’s population continues to expand at a rate almost double the national average and is projected to remain at this pace for the next few years. The Canyons at Linda Vista Trail community is located less than one mile from Northland’s multifamily asset in Oro Valley, Villas at San Dorado. This acquisition gives Northland 26% of the multifamily inventory within this region and brings its Tucson portfolio to nearly 1,800 units. The firm also owns and operates Hilands I & II and Promontory, both multifamily assets in Tucson.

The post Northland Investment Corporation Expands Southwestern Footprint, Acquires The Canyons at Linda Vista Trail appeared first on Northland.

Felicia’s Farm grows and donates fresh food to help the hungry in Tucson.  Weekly they donate an average of 250 pounds of produce and 100 dozen eggs to a local soup kitchen.  For more information about Felicia’s Farm, visit http://www.feliciasfarm.org/

The post Tucson Team Visits Felicia’s Farm to Give Back appeared first on Northland.