Northland Makes Atlanta Market Debut with the Acquisition of Luxury Property Novel Perimeter
Premier multifamily owner and operator expands national footprint into Atlanta with acquisition of luxury asset in Sandy Springs
ATLANTA, GA (December 15, 2020) – Northland Investment Corporation today announced the acquisition of Novel Perimeter, a best-in-class luxury multifamily residential property that features 320 thoughtfully-designed one- to three-bedroom homes, as well as a suite of high-end amenities. This acquisition represents Northland’s entrance into the competitive and highly desirable Atlanta market.
“Novel Perimeter is a significant acquisition for Northland; we are excited to expand our ownership in Georgia and to enter Atlanta, one of the most dynamic and economically vibrant markets in the US,” said Matthew Gottesdiener, Chief Investment Officer at Northland. “The property is a trophy asset that offers an exceptional transit-oriented residential experience through its luxury amenities and prime location at the doorstep of Atlanta’s largest white-collar employment hub. We are excited to introduce Northland’s best-in-class operations and long-term committed ownership to Atlanta, and to welcome this city to the growing list of core Northland markets: Boston, Austin, Denver, Charlotte, Charleston, Orlando, Tampa/Sarasota, Fort Myers, Palm Beach County, Tucson, and Albuquerque/Santa Fe.”
Novel Perimeter is ideally located just steps from both the Perimeter business district, one of the country’s largest employment hubs for Fortune 500 companies, and “Pill Hill,” the largest aggregation of healthcare in the state, comprised of three world class medical facilities. Coupled with its Sandy Springs address, Novel’s unique location offers residents an unparalleled combination of proximity to Atlanta’s best jobs and amenities, and a top ranked school system in one of the most prized suburbs in the city.
Residents will also enjoy a full suite of top-tier amenities. Novel Perimeter offers a 2,500-square-foot gym featuring cutting-edge Technogym equipment and a dedicated yoga and spin room; a modern drop-in work space with a boutique coffee bar featuring Land of a Thousand Hills coffee; a well-maintained outdoor dog run and pet washing area; and thoughtful, flexible workspaces designed to keep residents inspired at all times.
The elegantly designed homes feature upscale design elements including Nest Thermostats, USB and electronic Smart outlets and in-home washer/dryers, along with sophisticated finishes including white shaker style cabinets, grey quartz countertops, artisan tile backsplashes, plank wood flooring, and large soaking tubs or walk-in showers. Residents will also enjoy exclusive outdoor amenities, including an all-season open-air kitchen featuring a wine fridge, TV and pool table; an elegant pool courtyard with al fresco dining space, grills and a fire pit; a tranquil saltwater pool with bubblers, a tanning shelf and cabanas; and chic outdoor lounge areas that include a fountain courtyard featuring a fireplace, TV, pizza kitchen and ping-pong table.
Northland owns and operates a diversified multifamily portfolio that includes more than 25,000 units across the U.S. This acquisition adds Atlanta to Northland’s portfolio of long-term secondary and tertiary markets within New England, Austin, and Southwestern and Southeastern United States.