NEWTON, MA  (September 19, 2019) – Northland Investment Corporation today announced its entry into Charleston, South Carolina with the acquisition of Wharf 7 and The Standard, two best-in-class luxury apartment communities, located in the highly-desirable communities of Daniel Island and James Island, respectively.

“Charleston is home to some of the country’s fastest-growing and most dynamic companies. The city’s exceptional quality of life and professional opportunities attract an educated millennial workforce that desires highly amenitized rental communities in prime locations,” said Matthew Gottesdiener, Chief Investment Officer at Northland Investment Corporation. “Wharf 7 and The Standard offer the best apartment living experience in the city in two of Charleston’s most desirable areas. Our acquisition of these two assets is just the beginning of our multi-decade commitment to Charleston and its residents.”

Wharf 7 is located in Daniel Island and offers 312 studio to three-bedroom apartments with best-in-class finishes. Residents can experience premium amenities that include a resort-style saltwater pool, poolside TV lounges and grilling stations, a hammock garden, a state-of-the-art fitness center with a separate yoga/spinning studio, community bikes, and an event lawn with a terraced outdoor amphitheater. Units have private patios or balconies, along with high-end features that include chef inspired kitchens, stainless steel appliances, quartz countertops, walk-in closets and built-in shelving and desks. The property also provides access to hundreds of acres of parks, which feature walking and bike trails, and its location offers close proximity to a vibrant downtown area filled with dozens of shops, restaurants, and entertainment options.

Located in James Island, The Standard offers 280 high-end apartments and resort-style living. Residents will enjoy a variety of amenities that include a saltwater pool with a tanning ledge and cabanas, picnic courtyard with grilling station and outdoor kitchen, a beautiful public courtyard, and low country inspired clubhouse. The units boast sleek, modern fixtures, with spa-inspired bathrooms and spacious walk-in closets. The property is also equipped with bicycle racks, pedestrian pathways and garage parking. Residents are within walking-distance from James Island County Park.

Charleston has become a top global destination with an expansive and diversified economy. With an influx of multinational companies and fast-growing startups moving into the city, the labor force has grown four times the national average. The diverse employment base combined with the highly efficient transportation system and state-of-the-art medical facilities has led Charleston to become one of the most highly sought-after cities to both reside and work in.

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Austin Business Journal
December 14, 2017
By Jan Buchholz

Northland Investment Corp., headquartered in Newton, Massachusetts, bought The Park at Monterey Oaks at 4701 Monterey Oaks Blvd. in Southwest Austin. It’s a huge multifamily property in the coveted southwest submarket. The 430 units are situated on 37 acres of heavily wooded property — a distinctly different vibe than a downtown high-rise, but still appealing with its Hill Country ambiance. The price was not disclosed, but the Travis Central Appraisal District valued the property at nearly $71 million for 2017 tax purposes. The seller was an entity formed by Cornerstone Real Estate Advisers in Chicago, which had owned the property since November 2013. No brokers were mentioned in the announcement. Northland now owns 19 apartment communities in the Austin market.

To view full article, visit https://www.bizjournals.com/austin/news/2017/12/14/real-estate-roundup-twin-liquors-opens-store.html

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NEWTON, MA and Austin, TX (December 11, 2017) – Northland Investment Corporation, a member of the National Multifamily Housing Council’s Top Fifty Owners and the largest multifamily owner in Austin for the past decade, announced today the acquisition of The Park at Monterey Oaks, a 430-unit Class A garden-style community in Austin’s highly desirable southwest submarket. The property’s close proximity to downtown Austin, major employers, and large retail centers offers residents a highly desirable place to live in a rapidly growing metropolitan area.

“We are excited to add The Park at Monterey Oaks to our Austin portfolio, ” said Matthew Gottesdiener, Northland’s Chief Investment Officer.  “With this acquisition, we now own 2,346 units spread across 176 acres in the prestigious southwest submarket and are well-positioned to benefit from the rapid employment growth and continued economic expansion in Austin.”

Completed in 2000, The Park at Monterey Oaks consists of fifteen two- and three-story residential buildings, a clubhouse, laundry building, and maintenance shop, all set on over 37 sprawling acres of scenic Hill Country. The community’s low-density design is reflective of the surrounding environment, and includes a property-owned park, numerous water features, community garden, nature trail, boat parking, and pool, all within fifteen minutes of Austin’s CBD.   The Park at Monterey Oaks brings Northland’s ownership in greater Austin to 19 multifamily properties, totaling 7,040 units.

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NEWTON, MA and Bradenton, FL (OCTOBER 30, 2017) – Northland Investment Corporation, a member of the National Multifamily Housing Council’s Top Fifty Owners, announced today the acquisition of Echo Lake, a 360-unit luxury apartment community. The purchase of the new development in the prestigious Lakewood Ranch master-planned community marks Northland’s sixth acquisition in as many months as the firm, now the second largest owner-operator of market-rate multifamily residential communities Florida, continues its expansion in the state.

“We are thrilled with the opportunity to acquire Echo Lake, one of the nicest garden-style luxury apartment communities in the state of Florida. This deal was particularly exciting for us, as we were able to again acquire a best-in-class community without a competitive marketing process, a testament to Northland’s unblemished track record and reputation for absolute surety of close,” said Matthew Gottesdiener, Northland’s Chief Investment Officer. “Bringing our leading management practices to a beautiful property in the desirable Lakewood Ranch community, we will offer Echo Lake residents excellent value while also advancing our overall long-term growth strategy.”

Completed this past May, Echo Lake is a twelve-building residential complex consisting of one-, two- and three-bedroom apartments, spread across an expansive 41-acre site. Echo Lake is fully stabilized, leasing up at record-speed without offering any concessions, and is currently 93% occupied. The community’s unprecedented amenity package includes a 3.5-acre park, a state-of-the-art fitness center, a zero-entry saltwater pool, and community garden plots. The Echo Lake acquisition is Northland’s second in the North Port-Bradenton-Sarasota metropolitan area. The firm also owns and manages the nearby Yacht Club at Heritage Harbor.

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TAMPA — Downtown Tampa’s Element apartment tower sold this week to a Massachusetts-based real estate investment company that plans to upgrade the skyscraper’s amenities and operate it long-term as a rental community.

“A gorgeous beacon for downtown Tampa,” Northland Investment Corp. chief investment officer Matthew Gottesdiener said of the 35-story Element at 808 N Franklin St., overlooking Curtis Hixon Waterfront Park. “We were looking for an opportunity to acquire a best in class in downtown high rise.”

The sale closed Thursday. Gottesdiener said the company doesn’t discuss what it pays for property, and a deed had not been filed with Hillsborough County as of late Friday afternoon. The Tampa Bay Business Journal reported a purchase price of $112.4 million.

The Element, with 395 apartments, last sold in 2013 for $98 million to a company tied to the Miami-based Crescent Heights real estate firm. It is the fifth acquisition in as many months for Northland, which Gottesdiener said is now Florida’s second-largest owner-operator of market-rate multifamily residential complexes, with 32 properties and 9,122 units.

At 460 feet, the Element is one of Tampa’s tallest buildings, with a distinctive postmodern style and a sleek glassy exterior. Though built less than 10 years ago, in 2009, the building’s interiors, pool deck, fitness center and club room could all use upgrades, Gottesdiener said.

“We’ll be investing millions in the property in coming years,” he said. That said, there are no plans to raise rents, convert the units to condominiums or sell the tower again anytime soon. “We look for investments that are built to last,” he said.

To view the article, visit:  http://www.tampabay.com/news/business/realestate/massachusetts-firm-buys-tampas-element-apartment-tower/2341842

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NEWTON, MA and Orlando, FL (SEPTEMBER 18, 2017) – Northland Investment Corporation, a member of the National Multifamily Housing Council’s Top Fifty Owners, announced today the acquisition of The Rialto, a 200-unit multifamily community in Orlando’s Doctor Phillips neighborhood. This is Northland’s fourth property in the Orlando area, following its recent acquisition of The Paramount on Lake Eola in May, which reflects its ongoing investment in the Orlando market. Northland already owns Ballantrae in Sanford, as well as Grandeville on Saxon in Orange City.

Built in 2015, The Rialto consists of one, two, and three-bedroom units that offer upscale interior finishes across 22 unique floor plans. The community’s expansive amenity package offers a mix of sophisticated and lifestyle-enhancing features designed to appeal to all tastes. These include two state-of-the-art 24-hour fitness rooms, a new technology lounge and business center, a luxe swimming pool, structured parking, and a recently updated outdoor patio with stunning views overlooking Spring Lake. The community’s central location on Orlando’s famed Restaurant Row places it at the epicenter of the city’s business, transportation, and entertainment hubs.

“We are excited to increase our ownership in Orlando, a market that continues to lead the state of Florida and the rest of the country in job growth and new economic opportunity,” said Matthew Gottesdiener, Northland’s Chief Investment Officer. “The Rialto represents the future of Central Florida luxury apartment developments, with walkability to premium retail and amenities, proximity to major job centers, and access to top quality schools.”

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NEWTON, MA and Jupiter, FL (AUGUST 21, 2017) – Northland Investment Corporation, a member of the National Multifamily Housing Council’s Top Fifty Owners, announced the acquisition of two adjacent communities in affluent Jupiter, Florida.  Formerly known as Mallards Cove and Shell Trace, the properties were combined at closing and renamed Jupiter Isle.

Jupiter Isle consists of 359 units beautifully set on a lushly landscaped, low density, 42-acre site.  The location offers excellent access to Jupiter’s nationally ranked golf courses, pristine beaches, entertainment offerings, and transportation nodes. Northland will execute a sweeping renovation project across the property, including the creation of high-end interior living spaces and luxury amenities.

“Northland is pleased to continue its expansion in the Jupiter market, which is experiencing some of the strongest economic and population growth in the State of Florida,” said Matthew Gottesdiener, Northland’s Chief Investment Officer. “Jupiter Isle is the prototypical Northland value-add investment: a comprehensive interior and exterior rehab program and a complete operational overhaul of an under-renovated asset in a high barrier-to-entry top-tier market where Northland already owns a strategically positioned sister property.”

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Tuesday, January 13, 2015

Northland Investment Corporation, a privately held real estate investment company, has acquired the 300-unit Cypress Shores in Coconut Creek, FL and the 202-unit Village Place in West Palm Beach, FL. The properties offer high-end housing with superior amenities in two desirable Florida neighborhoods.

With the addition of Cypress Shores and Village Place, Northland now owns and operates 20 properties and more than 5,600 apartment homes in Florida. The acquisition also includes the addition of 12 new Florida-based employees, bringing Northland’s total employees in Florida to 130. In total, Northland manages more than 21,000 residential apartment homes in multifamily properties across the U.S.

Cypress Shores (www.cypressshoresapts.com), located at 1901 Lyons Road in Coconut Creek, includes 300 class A units in 13 buildings. The property is less than 15 minutes from Boca Raton, downtown Fort Lauderdale and Cypress Creek, and close to access to major routes. The property is two miles from Coconut Creek’s Main Street District which includes retail, cinemas and the Seminole Casino. Cypress Shores’ extensive amenities include a pool and poolside Wi-Fi, picnic areas, a fitness center, tennis and sand volleyball courts, a car wash bay, and three lakes with fountains.

Village Place (www.myvillageplace.com), located at 2111 Brandywine Road in West Palm Beach, includes 202 class A units in 10 buildings. The property is just east of Village Boulevard and adjacent to I-95 and the Bear Lakes Golf Course. At Village Place, the ample amenities include a computer lounge; area for bar-b-ques and picnics; a multipurpose court for sports and recreation; a pool; a dog park; and a fitness center. In addition, Residents receive membership to three private community parks within The Villages – Faircloth, Perini and Stamford parks – which offer recreational activities including courts for tennis, racquetball and volleyball, jogging trails, swimming pools, kiddie pools, softball fields and picnic tables.

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