Northland Aims to Boost Portfolio

In 2019, Northland identified Atlanta as a top market to acquire and develop a $1 billion portfolio of suburban, infill and urban apartment communities.

Northland chief executive officer Matthew Gottesdiener said, “What drew Northland to Atlanta was its dynamic combination of a business-friendly economy, strong educational institutions, practical infrastructure and its status as an anchor of nation-leading HQs of Fortune 500 companies, coupled with increasing appeal to innovative, tech-focused global companies and a vibrant and diverse 24-hour city. Entering Atlanta also allows us to access one of the most compelling talent pools in the country. Atlanta will join markets like Austin, Boston and Florida as core multi-decade Northland markets.”

Northland’s website states their $7 billion of real estate assets consist of: 26,000 multi-family units; 650 employees; $500 million annual revenue; home-based in Newton, Mass. The surname “Gottesdiener” may be familiar to Atlantans since founder and chairman Lawrence Gottesdiener bought the local WNBA basketball team, Atlanta Dream.

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Privately held Northland is not new to the state. They have acquisitions in Macon and Atlanta and currently have invested $520 million to acquire 1,300 apartments and an additional $250 million in developable land for future projects, with the intent to further grow more of their local portfolio.

SLX Atlanta was acquired by Northland in January 2022. It’s a luxury mid-rise property located in Chamblee which consists of 306 apartments and 24,189 SF of wellness-focused retail space.

Northland currently owns six communities in Georgia, along with a development site in midtown. They are:
• The Lofts at Zebulon | Macon (April 2020)
• Glenn Perimeter | Atlanta (December 2020)
• The Sutton | Atlanta (December 2020)
• 17th and Spring Development Site | Atlanta (December 2021)
• SLX Atlanta | Atlanta (January 2022)
• The Maven | Suwanee, (April 2022)
• Station at River Crossing | Macon (July 2022)

In terms of Northland revealing plans, Gottesdiener said, “We are actively pursuing new opportunities in Atlanta today, across both suburban garden apartment opportunities and urban/infill mixed use assets. We expect to have more news in coming weeks and months as we work towards our goal of over 2,500 units and $1 billion-plus in total Georgia investments. Northland’s focus and earned expertise is as a leading national multifamily investor, owner, manager, and developer. This is where we will continue to stay focused, including mixed use multifamily-anchored opportunities.”

Mingling with some of Atlanta‘s local real estate magnates, Northland representatives said they have been welcomed and connected to city leaders like Matt Bronfman and Steve Selig.

“We have been fortunate to have so many in the Atlanta business community welcome us into the market and connect us to some of the most respected and accomplished real estate leaders in the city…like Steve and Matt,” said Gottesdiener.

For charitable involvement, Northland is committed to giving back to local organizations that meaningfully impact communities. Some of the organizations they support that are Jewish based include: The Ruderman Family Foundation, Combined Jewish Philanthropies of Greater Boston, and 2Life Communities.

Gottesdiener, and his wife, Rebecca Krumholz, an attorney focused on impact litigation currently clerking in Massachusetts Federal Court, and their two children ages 3 and 5, belong to Temple Beth Shalom in Needham, Mass.

Gottesdiener said,” With our long-term investment strategy, Atlanta is the ideal market for Northland to put down roots and grow our portfolio. It is compelling because of its strong affordability, something Northland prioritizes when entering a new market, along with an impressive talent pool from local colleges and universities. We firmly believe the Atlanta market is going to outperform its secondary market peers over the next 20 years. Northland’s long-term philosophy is about unique value creation strategies, driven by the firm’s approach to asset management. Our teams strategically invest in property improvements and lead the value-add process to generate consistent growth throughout the long-term hold of our assets.”