NEWTON, Mass.--(BUSINESS WIRE)--Northland Investment Corporation, one of the top 50 multifamily owner and operators in the U.S., has acquired the Class A 332-unit Cypress Legends in Fort Myers, Florida. In the past 12 months, Northland has acquired seven properties in Florida and its expanding national portfolio now includes more than 22,000 apartment homes.
With the addition of Cypress Legends, Northland owns and operates 23 properties and 6,626 apartment homes throughout Florida. The property will bring eight new Florida-based employees to Northland, growing the company’s Florida team to 156 employees.
“Cypress Legends is a terrific property and a valuable addition to Northland’s Florida portfolio,” said Steven P. Rosenthal, President and CEO of Northland. “Northland now owns and operates seven properties in the Fort Myers area, and we look forward to continuing our growth in the region.”
Located at 3247 Forum Boulevard, Cypress Legends (http://cypresslegends.com/) offers high-end housing and apartment homes ranging in size from one to three bedrooms with 11 distinct floorplans. Completed in 2006, the property includes:
- 332 Class A units with features including Whirlpool appliances, full-size washers and dryers, spacious walk-in closets and private balconies;
- Amenities such as gated access, fitness center, resort-style swimming pool, beach area and dog park; and
- Central location in close proximity to I-75, providing access to main employment centers in Fort Myers, Cape Coral, Bonita Springs and Naples, and major retail businesses such as Target, Home Depot and Staples.
In addition to Cypress Legends, Northland’s recent acquisitions in Florida include: Floresta in Jupiter, Bay Breeze in Fort Myers, Lakeside at Greenboro in Melbourne, Cypress Shores in Coconut Creek, Village Place in West Palm Beach, and Grandeville on Saxon in Orange City.
About Northland Investment Corporation
Northland Investment Corporation, a privately held real estate investment company with $3.5 billion in assets under management, is one of the top 50 multifamily asset owners in the U.S. Based in Newton, Massachusetts, Northland owns 88 properties in eight states, totaling more than 22,000 multifamily units. Northland’s portfolio also includes more than 2 million square feet of office, retail and commercial assets. Northland manages six real estate investment funds, maximizing risk-adjusted returns through value-added acquisition, development, asset management and property management strategies.