Northland Marks Entrance Into Waco Market with Acquisition of The Legend
National multifamily owner and operator continues to focus on growth markets in Texas, adding to a diverse portfolio that includes Austin, Cedar Park and Corpus Christi
WACO, TX (January 25, 2022) – Northland announced that it is expanding into the Waco, Texas market with the acquisition of The Legend, a 300-unit, three-story garden-style apartment community. The Legend offers one-, two-, and three-bedroom homes in a gated community with convenient access to Waco’s thriving business hubs, dining options, and entertainment venues in one of the state’s fastest growing cities.
The Legend is located just six miles southwest of downtown, and less than a mile from the new Amazon fulfillment center and Baylor Scott & White Medical Center. Situated on 17 beautifully manicured acres, the community features a resort-style pool with cabanas and grills, a spacious clubhouse, a cyber business café with complimentary coffee and Wi-Fi, a fitness studio, a picnic area, and a pet park. Each home’s interiors are thoughtfully designed and feature granite countertops, full-size washers and dryers, undermount sinks, ceiling fans in bedrooms and living areas, large windows, designer glass pendant and track lighting, and wood-style plank flooring.
“Texas has long been one of our most active markets, and we are excited to add Waco to our portfolio with this acquisition,” said Mike Campbell, Associate Vice President of Acquisitions. “Not only does The Legend have a charming ambience and strong sense of community, but its proximity to the city’s economic hub makes it highly attractive to professionals who value Waco’s potential for career advancement in sectors spanning manufacturing to healthcare. This acquisition aligns with our long-term objective of expanding our presence in key secondary markets across the country that provide a strong opportunity for growth as we leverage decades of experience investing in Texas.”
Northland owns and operates 17 other residential properties in Texas, including Canyon Creek, Channing’s Mark, Great Hills, High Oaks, Madison at the Arboretum, Monterey Ranch, Museo, Northland at the Arboretum, The Park at Monterey Oaks, River Stone Ranch, Sedona Springs, Stonelake at the Arboretum, and Village Oaks in Austin; The Bay Club and Candlewood in Corpus Christi; and Cypress Gardens and The Lodge at Lakeline Village in Cedar Park. This acquisition reaffirms Northland’s commitment to Texas and expands its reach into a new key market for the firm.