ALPHARETTA, GA – Real estate equity firm Northland has acquired its first active adult community asset. Located in Alpharetta, GA, the fully-leased, 210-unit property is called Emblem Alpharetta.
The four-story asset features one- and two-bedroom units and luxury amenities, including a resort-style pool, a sundeck, a state-of-the-art fitness center, a bocce ball court and outdoor entertaining spaces. Spanning seven acres of land, Emblem Alpharetta offers additional onsite amenities, such as a library, a structured parking garage, a clubhouse, lounge and conference spaces.
"We're thrilled to announce the acquisition of Northland's first active adult community," states Matthew Gottesdiener, CEO of Northland. "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."
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Gottesdiener adds, "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."
The transaction represents Northland's first acquisition within the age-restricted asset class, as well as its fourth investment in the state of Georgia this year. The firm originally entered the Atlanta market in 2020, and it has since invested more than $600 million to acquire 1,600 apartment units and additional developable land for $250 million in future projects.
Situated 25 miles north of downtown Atlanta, Emblem Alpharetta is located near outdoor attractions and entertainment options, such as Big Creek Park, the Chattahoochee River National Recreation area, numerous local golf courses and North Point Mall.
The town of Alpharetta, GA boasts 70,000 residents and 4,632 employees per square mile.
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
