Together with New York-based Ascent Property Management, Northland has announced the acquisition of Glenwood at Grant Park, a 216-unit mid-rise multifamily community in Atlanta. Expanding Northland’s footprint in the metro, the strategic investment positions the firm’s continued growth in one of its top target markets.
“As one of the top secondary cities in the country, Atlanta has been a focus of Northland’s recent growth nationally. Glenwood at Grant Park is our ninth acquisition in Georgia since entering the market in 2020,” says Andy Young, director of investments at Northland. “In addition to coming with highly accretive below-market in-place fixed-rate financing, Glenwood stands out for the dynamic quality of life it offers its residents as a high-quality, yet affordable, asset built in one of the most desirable, and walkable, neighborhoods along the BeltLine.”
The Grant Park neighborhood is close to Midtown and has been ranked the fourth best neighborhood in Atlanta. Glenwood was built in 2016 and includes studio, one-, and two-bedroom apartments with upscale interior finishes and common spaces. Amenities for the property include a 24-hour business center; a fitness center; a bocce court; a coffee bar; a resort-style pool and courtyard; a pet washing station; a resident lounge and game room; package lockers; and EV charging stations.
Glenwood's proximity to the Atlanta BeltLine provides residents with convenient connectivity to the city's vibrant economic development initiatives. The Atlanta BeltLine has successfully revitalized 22 miles of unused railroad corridors since 2005, creating an active walking and cycling path around many of Atlanta's core neighborhoods.
Since entering the Georgia market three years ago, Northland has strategically invested more than $600 million to acquire over 1,800 apartments and an additional $250 million in land for future projects. Northland owns and manages properties across 16 states from New England to Los Angeles.