The 2021 group ranges from a few in their mid-20s who’ve already made a mark in their industries to others who’ve spent more than a decade and a half building their professional resumes in industries ranging from law and health care to fashion and construction.

Those being honored this year, representing the for-profit, nonprofit and government sectors, were selected by the Boston Business Journal editorial staff from over 200 nominations. Readers can learn more about the honoree’s stories in an upcoming special supplement of the Business Journal.

“This year’s 40 Under 40 honorees have been through a lot, and like all of us have overcome much, to be where they are today,” said Carolyn M. Jones, Boston Business Journal Market President and Publisher. “Their dedication and innovation inspire us all.”

This year’s winners included Matthew Gottesdiener, CEO of Northland.

The post Matthew Gottesdiener named to Boston Business Journal 40 under 40 Award appeared first on Northland.

February 28, 2021

By Steve Adams

Five years after joining Newton-based Northland Investments as chief investment officer, Matthew Gottesdiener is taking over the multifamily investor’s leadership role in the CEO’s office. His father and the former CEO-turned-chairman, Larry Gottesdiener, built the firm’s 26,000-unit portfolio with a focus on garden-style suburban apartments in New England and the Sunbelt. The firm is expanding its national portfolio with the recent entry into new markets including Atlanta, Denver and Albuquerque. At the same time, it’s preparing to break ground on one of the largest projects in suburban Boston: the transformation of the 22-acre former Clarks Shoes headquarters property in Newton Upper Falls into a 1.1 million-square-foot mixed-use development.

Q: How long has the succession plan been in place and why was this the right time for a change of leadership?

A: I joined the firm five years ago and my father had a concrete set of goals for improving the fundamental quality of the portfolio by selling some of the older assets and adding more core and luxury properties, and a culture that would be more transparent and supportive and put our tenants, employees and investors first. During the pandemic, we took a look at how we’ve done and what the structure was for continued success. That began in the summer and was about each of us focusing on where we could make the most impact.

Q: What’s the average age of the properties in the portfolio?

A: When I joined, it was 1990 and currently it’s 2003. We fundamentally have two core investment strategies. We have the business we’ve done since 1991: Buying predominantly garden-style suburban assets that are undercapitalized or undermanaged, with a 10-to-20-year hold horizon, and transforming the community. The complementary piece that’s grown into half of our building is buying best-in-class, class A-located infill assets, predominantly luxury, with a 20-to-50-year hold horizon. We’re currently investing our eighth fund, and will acquire $400 million to $500 million, investing $100 million of equity.

Q: What’s Northland’s strategy on the development side?

A: In the early 2000s, we slowly and carefully started to build a boutique development business, focusing on New England only, that would use almost exclusively our own capital. One of the most foundational aspects of Northland’s DNA from our founding to today is to be our largest limited partnership investor and never be less than 20 percent of the equity in a fund or investment. Development takes that to another level. As we grew, we invested 70 percent of the equity. We had to build a competency, and it’s your own capital you’re risking.
The Merc in Waltham [which opened in 2018] is an iconic development project. We took an office building and a bank at a “Main & Main” corner and a transit-oriented site that was ripe for redevelopment, in what we believed at the time was not a best-in-class suburb, but we continued to believe that the flood of jobs would lift all tides including Waltham. One of my goals will be bridging this patient boutique New England development niche with our national acquisition business.

Q: What was the key to winning the referendum in Newton approving the Upper Falls project, including 800 apartments?

A: We were thrilled that Newton voters said yes after three years and hundreds of conversations in the city. Newton is home for us, and for me personally. By putting 1,400 parking spots underground in Newton, it’s not just that the project is permeable, but we’ll have an unprecedented level of green space and open space where the structured parking would have sat. Now it’s about the future of the site and getting in the ground. We’ve spent the last 10 months in development review by the city and moving towards the construction loan. As we look across the country to markets like Atlanta and Denver and Austin where we’re growing, we’ll bring that same quality to our national platform.

Q: What’s some of the most useful advice you’ve received in real estate?

A: Have a commitment to your core principals, do what you say and make decisions for the long term. That’s the advice I’ve been given and how I hope to lead Northland in the coming decades.

Gottesdiener’s Top 5 TV Shows:
1. The Marvelous Mrs. Maisel
2. The Wire
3. La Casa de Papel
4. The West Wing
5. The Sopranos

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Larry Gottesdiener, the founder and longtime chief executive of Newton-based real estate company Northland Investment Corp., is handing the reins over to his son.

Matthew Gottesdiener, currently Northland’s chief investment officer, is being promoted to CEO. Meanwhile, Suzanne Abair, who joined Northland as general counsel in 2004 and was named chief operating officer in 2016, will assume the role of president.

As CEO, Matthew Gottesdiener will guide Northland’s investment strategy, drive the firm’s operating business and further expand Northland’s national platform.

“I respect the opportunity to build on Northland’s long-term, industry-leading track record,” Matthew Gottesdiener said in a statement. “I am fortunate to work alongside the best team of professionals in the multifamily space and am excited for the next chapter in Northland’s growth.”

As president, Abair will partner with Matthew Gottesdiener on Northland’s strategic direction, manage operational oversight and oversee complex transactions. Abair will also lead Northland’s diversity, equity and inclusion action plan.

“I am honored to take on this new role as president, and I am grateful for the unwavering support I have received from Larry throughout my time at Northland,” Abair said in a statement. “I look forward to working with Matthew to cultivate an organization in which every member of the team is empowered to come to work, be their authentic self, and strive for excellence every day.”

Prior to joining Northland in 2016, Matthew Gottesdiener was an equity derivatives trader at Goldman Sachs. In his tenure at Northland, the company’s assets under management have grown from $4 billion to $7 billion.

“Matthew’s analytical rigor, investment acumen, and execution capabilities have reimagined Northland,” said Larry Gottesdiener in a statement. “Balancing organizational integrity with an unwavering pursuit of investment and operational outperformance, Matthew has set the firm on a forward-thinking path.”

Larry Gottesdiener will become company chairman, where he will focus on Northland’s long-term strategic direction, oversee mixed-use projects and guide the firm’s philanthropic efforts.

In December, Northland secured a major win with Newton voters approving its long-envisioned 23-acre mixed-use project in Newton Upper Falls. The Northland Newton Development is expected to include 800 residential units, of which 140 would be defined affordable, as well as 180,000 square feet of office space and 115,000 square feet of retail space.

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Newton, MA (February 11, 2021) – – Northland Investment Corporation, a real estate private equity firm with $7 billion of assets under management and a $3 billion development pipeline today announced that Chief Investment Officer Matthew Gottesdiener is being promoted to CEO and Chief Operating Officer Suzanne Abair is assuming the additional role of President. Current CEO Larry Gottesdiener will transition to the role of Chairman.

Since joining the firm in 2016 after a career at Goldman Sachs, Matthew has grown Northland’s assets under management from $4 to $7 billion, personally overseen the acquisition and disposition of 15,000 multifamily units, and expanded the firm’s suburban garden footprint to include a portfolio of some of the highest quality luxury multifamily and mixed-use assets in the country.

“Matthew’s analytical rigor, investment acumen, and execution capabilities have reimagined Northland,” said Larry Gottesdiener. “Balancing organizational integrity with an unwavering pursuit of investment and operational outperformance, Matthew has set the firm on a forward-thinking path.”

As CEO, Matthew will spearhead Northland’s investment strategy, drive the firm’s operating business, and build a national platform that bridges the firm’s acquisition capabilities with its boutique New England development business. Matthew is a member of ULI Multifamily Product Council, the NMHC Board of Directors, and is a Board Member and the Treasurer of HomeStart, a nationally recognized, Boston-based nonprofit dedicated to ending homelessness.
“I respect the opportunity to build on Northland’s long-term, industry-leading track record. I am fortunate to work alongside the best team of professionals in the multifamily space and am excited for the next chapter in Northland’s growth,” said Matthew Gottesdiener.

Suzanne Abair joined Northland in 2004, initially as General Counsel before being promoted to Chief Operating Officer. As President & COO, Suzanne will partner with Matthew to chart the strategic direction of the firm, maintain oversight of operations, and tackle the firm’s most complex transactions. Building upon her work as a Board Member at YW Boston, an organization dedicated to eliminating racism and empowering women, Suzanne will also lead the firm’s diversity, equity, and inclusion (DEI) action plan.

“I am honored to take on this new role as President, and I am grateful for the unwavering support I have received from Larry throughout my time at Northland,” said Suzanne Abair. “I look forward to working with Matthew to cultivate an organization in which every member of the team is empowered to come to work, be their authentic self, and strive for excellence every day.”

Matthew and Suzanne, thought leaders in the real estate industry, are committed to creating an organization with a diverse forward-looking culture that embraces its philanthropic values: empowering women, combatting racism, and ending homelessness. In his role as Chairman,
Larry Gottesdiener will chart the firm’s long-term strategic direction, oversee innovative mixed-use developments, and guide philanthropy, engagement, and activism.

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A Boston multifamily investor has made its first foray into Atlanta and plans to buy up metro units over the next few years.

Northland Investment Corp. purchased Novel Perimeter, a 320-unit luxury apartment complex off Glenridge Drive overlooking Georgia 400 in Sandy Springs, for $90.5M earlier this month, according to Databank, which tracks real estate transactions.

Crescent Communities developed Novel Perimeter in 2016 and sold it to Northland, which owns more than 80 apartment and commercial properties in the South, Southeast and Northeast.

It has been eyeing the Atlanta market for two years before this purchase, Northland Chief Investment Officer Matthew Gottesdiener said. The firm hopes to acquire at least 2,000 units in the metro area over the next few years, including high-rise luxury apartments inside the city.

“In Tampa, Denver, Orlando, we own downtown vertical assets,” Gottesdiener said. “And that will be in our future in Atlanta, too.” Northland targets stabilized Class-A apartment assets as well as value-add properties that require a significant capital infusion to reposition, he said. He didn’t identify any other Metro Atlanta properties the firm is currently considering, but said that ground-up development — which it mainly does in the Northeast — is also a possibility in Atlanta.

Given Northland’s typical hold time of at least 20 years, the firm sees Atlanta as a promising growth engine, especially with its burgeoning technology sector that Gottesdiener likened to Austin 15 years ago. Austin was recently ranked as the sixth-most-populous city with tech talent in the U.S. by CBRE in its 2020 Tech Talent Report, behind New York and Toronto. Atlanta was ranked ninth.

“The increasing number of graduates choosing to stay in town to me is a powerful and encouraging indication,” he said.

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ATLANTA, GA (December 15, 2020) – Northland Investment Corporation today announced the acquisition of Novel Perimeter, a best-in-class luxury multifamily residential property that features 320 thoughtfully-designed one- to three-bedroom homes, as well as a suite of high-end amenities. This acquisition represents Northland’s entrance into the competitive and highly desirable Atlanta market.

“Novel Perimeter is a significant acquisition for Northland; we are excited to expand our ownership in Georgia and to enter Atlanta, one of the most dynamic and economically vibrant markets in the US,” said Matthew Gottesdiener, Chief Investment Officer at Northland. “The property is a trophy asset that offers an exceptional transit-oriented residential experience through its luxury amenities and prime location at the doorstep of Atlanta’s largest white-collar employment hub. We are excited to introduce Northland’s best-in-class operations and long-term committed ownership to Atlanta, and to welcome this city to the growing list of core Northland markets: Boston, Austin, Denver, Charlotte, Charleston, Orlando, Tampa/Sarasota, Fort Myers, Palm Beach County, Tucson, and Albuquerque/Santa Fe.”

Novel Perimeter is ideally located just steps from both the Perimeter business district, one of the country’s largest employment hubs for Fortune 500 companies, and “Pill Hill,” the largest aggregation of healthcare in the state, comprised of three world class medical facilities. Coupled with its Sandy Springs address, Novel’s unique location offers residents an unparalleled combination of proximity to Atlanta’s best jobs and amenities, and a top ranked school system in one of the most prized suburbs in the city.

Residents will also enjoy a full suite of top-tier amenities. Novel Perimeter offers a 2,500-square-foot gym featuring cutting-edge Technogym equipment and a dedicated yoga and spin room; a modern drop-in work space with a boutique coffee bar featuring Land of a Thousand Hills coffee; a well-maintained outdoor dog run and pet washing area; and thoughtful, flexible workspaces designed to keep residents inspired at all times.

The elegantly designed homes feature upscale design elements including Nest Thermostats, USB and electronic Smart outlets and in-home washer/dryers, along with sophisticated finishes including white shaker style cabinets, grey quartz countertops, artisan tile backsplashes, plank wood flooring, and large soaking tubs or walk-in showers. Residents will also enjoy exclusive outdoor amenities, including an all-season open-air kitchen featuring a wine fridge, TV and pool table; an elegant pool courtyard with al fresco dining space, grills and a fire pit; a tranquil saltwater pool with bubblers, a tanning shelf and cabanas; and chic outdoor lounge areas that include a fountain courtyard featuring a fireplace, TV, pizza kitchen and ping-pong table.

Northland owns and operates a diversified multifamily portfolio that includes more than 25,000 units across the U.S. This acquisition adds Atlanta to Northland’s portfolio of long-term secondary and tertiary markets within New England, Austin, and Southwestern and Southeastern United States.

For more information and updates, follow Novel Perimeter on Facebook, and visit its website at https://www.novelperimeteratl.com/

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