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National real estate private equity firm, Northland, announced the acquisition of Emblem Alpharetta, an Active Adult community in Alpharetta, Georgia, representing a new asset class for the firm. Emblem Alpharetta is a 210-unit, fully leased community that offers one- and two-bedroom homes in a four-story building, centered around a resort-style pool and sundeck. This acquisition furthers Northland’s commitment to investing in Georgia and is the firm’s fourth investment in the state this year.
“We’re thrilled to announce the acquisition of Northland’s first Active Adult community,” said Matthew Gottesdiener, CEO of Northland in a statement. “Emblem Alpharetta presents an opportunity to expand our platform of best-in-class apartment ownership and management to more directly serve the fastest growing age cohort in the country. We are excited to invest more than $3 million in the community and to continue our growth in Atlanta by entering Alpharetta, one of the most dynamic submarkets in the region.”
Spanning seven acres, Emblem Alpharetta features amenities with an emphasis on wellness, including a fitness center, bocce ball court, and outdoor entertaining spaces. For individuals seeking an active lifestyle, nearby outdoor attractions include Big Creek Park, the Chattahoochee River National Recreation Area, and numerous local golf courses. Other onsite amenities include a library, structured parking garage, clubhouse, lounge, and conference spaces. The community is within close proximity to the North Point Mall, which is currently undergoing a large-scale redevelopment.
Since entering the Atlanta market in 2020, the firm has invested more than $600 million to acquire 1,600 apartments and additional developable land for $250 million in future projects. Northland owns and operates a diversified multifamily portfolio that includes more than 26,000 units across 14 states in the U.S.