Northland Acquires Fourth Orlando Area Property
Lakefront community, The Rialto, sits at heart of Orlando’s “Restaurant Row”
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.”