NEWTON, MA and Tucson, AZ (June 2, 2017) – Northland Investment Corporation, one of the top multifamily owner and operators in the country, announced today its acquisition of Villas at San Dorado in the Tucson, Arizona suburb of Oro Valley. Northland now owns 27 properties in the Southwest across Texas, Arizona and New Mexico.

San Dorado is Northland’s fourth property in the greater Tucson area, a market that is projected to see significant population growth with as many as 16,000 new residents annually through 2019, according to CBRE Econometric Advisors, in part due to its strong defense, biotech and education ecosystems. Cost of living in the region is also extremely affordable, with an average rent-to-income ratio of 21.9% in Oro Valley.

“Tucson’s economy continues to gain momentum in recent years, and we remain optimistic about the long term outlook,” said Matthew Gottesdiener, Chief Investment Officer, Northland. “We’re excited to be acquiring the preeminent suburban apartment community in Tucson. Villas at San Dorado was built by one of the most respected developers in the western United States; the property offers an unparalleled suite of onsite amenities and rent levels that are sustainable and affordable for a diverse group of residents.”

Located in Northwest Tucson’s coveted suburb of Oro Valley, Villas at San Dorado was built in 2014 and consists of 274 units in 26 buildings spread across 15.7 acres of lush desert landscape in the foothills of the Santa Catalina Mountains. In addition to its prime location, luxe amenities include a spin-bike room, yoga studio, and an expansive resort-style pool with sun-decks, cabanas, and a whirlpool spa, as well as access to eight golf courses within five miles of the property.

In addition to Villas at San Dorado, Northland’s other communities in Tucson include Hilands, Promontory, and Valley View.

The post Northland Enhances Southwestern Presence with Acquisition appeared first on Northland.

•  Twenty-eight members of the Southwest Florida team volunteered at The Harry Chapin Food Bank where they processed 18,560 pounds of produce, equivalent to 15,467 meals, for neighbors in need in Charlotte, Collier, Hendry, Glades, and Lee counties.
• A group in Austin worked at the Central Texas Food Bank where they helped keep mobile food pantry lines running smoothly. The food bank works with 250 partner agencies and helps with hunger relief in 21 counties across Central Texas. The volunteer time from the Northland team helped provide 7,791 meals.
• Employees from Northland’s Tucson communities contributed their volunteer time to Habitat for Humanity. They worked on laying brick, planting trees, and other projects to get a home built for a deserving family in the Tucson area.
• A group of 25 from the Newton, MA corporate office spent an afternoon at The Greater Boston Food Bank sorting and processing food to help the 1 in 9 people who go hungry each day in Massachusetts.
• Austin team members volunteered at the Austin Animal Shelter, which runs the largest no-kill animal shelter in the United States, providing shelter to more than 18,000 animals each year.
• Corpus Christi employees spent their time at the Corpus Christi Food Bank which feeds over 78,900 people in the Coastal Bend each year. The FBCC services an 11 country area of South Texas and works with 150 agencies and pantries.

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