Northland Completes its Tenth Acquisition in Georgia with 670 Thornton
Apartment community offers suburban tranquility and urban accessibility
Atlanta, GA — September 6, 2023 — Northland, a national real estate private equity firm, is pleased to announce the acquisition of 670 Thornton, a 344-unit apartment community in Lithia Springs, Atlanta. Situated just 15 miles west of Atlanta, 670 Thornton perfectly balances suburban seclusion and job and urban accessibility with immediate access to the East Coast’s largest industrial job corridor.
670 Thornton boasts a mere seven units per acre of density, resulting in a bucolic suburban atmosphere spread across 38 residential buildings and 46 acres. The community offers a mix of 20 studios, 146 one-bedroom apartments, 154 two-bedroom units, and 24 spacious three-bedroom dwellings. 88% of the apartments are corner units, more than double the market average, and 91% of units are on the first and second floors. The property features a secure gated entry, a renovated fitness center, a state-of-the-art business center, inviting grilling areas, a pet park, two pools, a theater room for entertainment, a playground, tennis courts, and a scenic walking trail. Each unit is complemented by its own patio or balcony. Additionally, 96 detached garages are strategically located around the site, offering both convenience and practicality.
“We are thrilled to continue our expansion in Atlanta with 670 Thornton, a prototypical value-add garden-style acquisition where Northland can leverage decades of operational expertise and a platform of eight sister properties to implement a renovation program that will transform both the community and the lived experience for residents,” said Andy Young, Director of Investments at Northland.
Northland plans to implement a valet trash program, SmartRent technology package (smart thermostats, keyless entry pads, and water detection sensors), washers and dryer installs in all units, upgraded finishes in select units, and further site improvements. The strong affordability of existing rents at $1,300 underpins the renovation potential without overburdening prospective residents.
Since its market entry in 2020, Northland has been one of the most active acquirers of Georgia, and specifically Atlanta, multifamily real estate. Northland now owns and operates a portfolio of 2,161 units in the state, supported by 48 full-time team members based in Georgia.