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Nov 04, 2014

Northland Acquires Monterey Ranch in Austin, TX

NEWTON, MA and AUSTIN, TX (November 4, 2014)Northland Investment Corporation, one of the top fifty multifamily owners in the U.S., has acquired the 1,072 unit Monterey Ranch, the largest multifamily property in Austin, TX. The property offers high-end housing with superior amenities within 10 miles of downtown Austin.

Austin’s largest apartment owner and operator, Northland now owns 6,610 apartment homes in Austin. The Monterey Ranch acquisition also includes the addition of 23 new Austin-based employees to the Northland organization, bringing its total employees in the area to 140. This transaction adds to Northland’s growing portfolio, which including recent acquisitions in Florida and New England, now totals more than 21,000 units.

“We are very optimistic about Austin’s long term prospects,” said Steven P. Rosenthal, President and CEO of Northland. “We are excited to add another southwest Austin asset to our portfolio, which includes two existing properties in the submarket.”

Monterey Ranch (, completed in 1999, includes 1,072 class A units in 54 buildings in desirable southwest Austin.

Extensive amenities at Monterey Ranch include:

  • five pools,
  • an area for bar-b-ques and picnics,
  • two playgrounds,
  • a fitness center,
  • a yoga/pilates studio,
  • tennis, sand volleyball and indoor basketball courts,
  • hiking and biking trails,
  • a soccer field,
  • a kids’ activity room,
  • stadium seating theatre, and
  • a business center.