Northland Investment Corporation Expands Southwestern Footprint, Acquires The Canyons at Linda Vista Trail
Multifamily property marks fourth addition to Northland’s Arizona Portfolio
NEWTON, MA (July 11, 2019) – Northland Investment Corporation today announced the acquisition of The Canyons at Linda Vista Trail, a brand new construction asset in Oro Valley, Arizona. The property offers 228 one to three-bedroom high-end multifamily units across 13 acres and marks Northland’s fourth acquisition in Greater Tucson, which has been the firm’s top performing market over the last two years.
“We are thrilled to be adding The Canyons at Linda Vista Trail to our portfolio in a market where we have experienced great success and see continued room for growth and expansion, given high demand and currently low levels of supply,” said Matthew Gottesdiener, Chief Investment Officer of Northland Investment Corporation. “With our other assets in-market, Canyons will benefit greatly as it relates to staffing, contract negotiation and unit mix offering.”
The gated community offers resort-style living with premier features that include nine-foot ceilings, hardwood floors, quartz countertops, stainless steel appliances and beautiful views of the Santa Catalina Mountains. Residents will enjoy an amenity package that offers a state-of-the-art fitness center and spa, a swimming pool, outdoor grill areas, a bocce ball court, putting green, pet park and more. The community is located in close proximity to local parks such as the Canada Del Oro Riverfront, hiking areas, restaurants, schools, job centers and high-quality retail.
A highly sought-after market, Tucson’s population continues to expand at a rate almost double the national average and is projected to remain at this pace for the next few years. The Canyons at Linda Vista Trail community is located less than one mile from Northland’s multifamily asset in Oro Valley, Villas at San Dorado. This acquisition gives Northland 26% of the multifamily inventory within this region and brings its Tucson portfolio to nearly 1,800 units. The firm also owns and operates Hilands I & II and Promontory, both multifamily assets in Tucson.