12 May 2017
Florida
Reporter: Theo Andrew

Northland acquire multi-housing community for $52.9 million


Northland Investment Corporation has acquired Alta at Terra Bella in Land O’Lakes, Florida, from Wood Partners for $52.9 million.

HFF brokered the sale of the 311-unit, multi-housing community, located at 23700 Viento Drive.

The units were completed in 2016 and comprise one-, two- and three-bedroom apartments averaging 1,091 square feet.

The property has various community facilities including a fitness centre with a yoga room and children’s playroom, a clubhouse with sports lounge, and a swimming pool.

Matthew Gottesdiener, chief investment officer at Northland, said: “As Greater Tampa continues thrive, we are pleased to add this best-in-class, newly constructed property to our portfolio.”

“Pasco County in particular has experienced tremendous growth and rapidly improving demographics in recent years, and we are very excited to expand our local presence in the Tampa market.”

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