Northland Pledges $100,000 to Advance Homelessness Prevention Efforts in Greater Los Angeles
Following major downtown acquisition, firm partners with five local nonprofits to provide critical aid
NEWTON, MA (December 19, 2022) – Northland, a leading national real estate private equity firm, today announced a donation totaling $100,000 to five LA-based nonprofits dedicated to alleviating homelessness and providing critical services to individuals in need. The firm gifted $20,000 each to Chrysalis, the Downtown Women’s Center, LA Mission, PATH, and the Resident Relief Foundation, in support of their respective work offering employment assistance, rent relief, housing, meals, advocacy and health services to individuals and families throughout Greater Los Angeles.
Northland has long been dedicated to leveraging its reputation and resources to enact lasting positive change for renters and homeowners across the country, in line with its core values centered around homelessness prevention, social justice, and women’s initiatives. The firm has enduring relationships with nonprofits working to advance related causes in each of its operating markets including: The American Red Cross, The Greater Boston Food Bank, YW Boston, His Compassion, and HomeStart.
“At Northland, our values as a firm are central to everything we do, and it was important upon entering the LA market to establish relationships with local organizations making a positive impact for those most disadvantaged within the community,” said Northland CEO Matthew Gottesdiener. “The challenges associated with homelessness are complex and arduous, but each of these organizations bring local expertise and critical capabilities to their work, and share an unwavering commitment to the fierce urgency of now. We’re proud to be affiliated with such impactful groups, and look forward to continuing our work together in the years ahead.”
The community-driven donation comes a month after Northland made its entry into the LA market with the acquisition of THEA at Metropolis, representing one of the largest single-asset, market-rate multifamily acquisitions in U.S. history. Located on 8th Street in the heart of Downtown LA, THEA is a 59-story, 685-unit, Type-I constructed mixed-use asset with 30,000 square feet of ground floor retail. THEA was completed in 2020 and is currently stabilized at 91% occupancy.
Northland owns and operates a diversified multifamily portfolio that includes more than 26,000 units throughout 16 states, and a $3 billion development pipeline with marquee land sites in Boston, Atlanta, Orlando, Denver, and Richmond. Following the acquisition of THEA, Northland’s portfolio now presents an average vintage of 2006, with 30% comprising infill mid-rise or urban high-rise assets.