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Mar 30, 2017

Northland Continues Florida Expansion

The Village at Terra Bella is firm’s third in Greater Tampa area, 28th in Florida

NEWTON, Mass. (March 30, 2017) – Northland Investment Corporation, one of the top multifamily owner and operators in the country, has announced its strategic acquisition of The Village at Terra Bella community in Land O’Lakes, Florida. Located close to downtown Tampa, the property is the company’s latest in a string of acquisitions in the Sunshine State in recent years, as it continues to leverage its regional expertise and capitalize on Florida’s strong economic growth.

With the addition of The Village at Terra Bella, Northland now owns and operates 28 properties throughout Florida. This new property is the company’s third in the Greater Tampa area alone, a vibrant market seeing considerable economic and population growth.

“As greater Tampa continues to grow and thrive, we are pleased to add this best-in-class newly constructed property to our portfolio,” said Matthew Gottesdiener, Chief Investment Officer of Northland. “Pasco County has shown tremendous growth and rapidly improving demographics in recent years, and we are very excited to expand on our local presence in the Tampa market.”

A short drive from Tampa’s vibrant downtown neighborhood, The Village at Terra Bella was completed in early 2016 and consists of 311 apartment homes across 14 buildings, with a full property size of 452,000 square feet. In addition to one-, two-, and three-bedroom apartments, the community offers an extensive range of amenities including a zero-entry salt water swimming pool, cyber café, fitness center with children’s playroom, and an expansive dog park.

In addition to The Village at Terra Bella, Northland’s recent acquisitions in Florida include properties in Ocala, West Palm Beach, Bradenton, Fort Myers, Melbourne, Coconut Creek and Orange City. Since 2008, Northland has completed over $632 million in acquisitions in Florida, adding 5,399 units to its Sunshine State portfolio.