Back to News
Jun 27, 2019

Northland Investment Corporation Acquires Gateway Club in Boynton Beach, Expands Florida Footprint

Leading Multifamily Firm to Upgrade Apartment Community & Enhance Resident Experience

NEWTON, MA (June 27) – Northland Investment Corporation today announced the acquisition of Gateway Club, a 319 unit multifamily asset in Boynton Beach, Florida. This marks Northland’s second property in Boynton Beach and its 32nd multifamily property in Florida, expanding the company’s presence within the Southeastern region of the state.

“Gateway Club provides Northland with a prime opportunity to increase the value of this garden-style community in a highly sought-after Florida location,” said Matthew Gottesdiener, Chief Investment Officer of Northland Investment Corporation. “We look forward to enhancing the living experience for the Gateway Club residents and are excited to welcome this property to our portfolio.”

As part of the acquisition, the firm will perform extensive interior and exterior renovations that will update the property’s aesthetic. In addition, the roof and ventilation system will undergo upgrades while Northland will implement best-in-class technology solutions. Once complete, Gateway Club will offer an overall more desirable, professionally managed experience for residents.

Gateway Club is located within Palm Beach County, which has continued to experience population growth, and offers access to job opportunities across several sectors including medical, aerospace, financial services and government. According to CoStar, Boynton Beach ranks third out of the nine Palm Beach County submarkets in terms of rent growth and is currently experiencing a lack of multifamily housing supply.

This acquisition will add to the firm’s Boynton Beach portfolio, which includes adjacent apartment complex Via Lugano. A strong track record of acquiring and investing in multifamily properties throughout Florida, Northland has aggressively targeted the state since 2011 for multifamily acquisitions particularly in Fort Myers, Melbourne and Palm Beach County.