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Crosland Fund Eyes $225M in Land Acquisitions

CHARLOTTE, NC-The investment partnership with Northwestern Mutual has a potential land and vertical development reaching $1.5 billion.

By Melissa Kress | Updated on December 07, 2007

CHARLOTTE, NC-Crosland LLC and Northwestern Mutual have teamed up to acquire land for large-scale developments. The joint venture will allow the partners to make approximately $225 million in land buys. All total, the partnership will have the potential land and development reaching $1.5 billion.

The Southeastern Investment Fund will be in conjunction with Crosland’s corporate capital investments, giving the locally based developer the ability to pursue large-scale, longer-range developments, according to a company statement. The fund will focus on all the major food groups, particularly multi- and mixed-use projects with residential, retail and office. A Crosland spokesman could not be reached by GlobeSt.com’s deadline.

The land deals will target primarily urban infill redevelopment and outlying growth corridors, Crosland execs add, citing the company’s 35-acre, $200-million-plus South Boulevard transit-oriented development as one project which will benefit from the Southeastern Investment Fund. Another areas in fund’s sights is Nashville, where Crosland has two infill projects under way, the Terrazzo and Griffin Plaza.

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