AUSTIN-Northland Investment Corp., looking to improve the quality of its Texas portfolio, has come up with a plan to sell some complexes and upgrade others, thanks to its $270-million purchase from Equity Residential Properties Trust. The Newton, MA-based owner plans to invest up to $5,000 per unit into upgrading several complexes, mainly in the capital city’s southwestern submarket.

Lawrence R. Gottesdiener, Northland’s chairman, tells that, in turn, “We’ll selectively liquidate some of our older B-quality buildings including holdings in Corpus Christi, Dallas and Tyler.” One of those holdings, the 324-unit Stanford Court at 18175 Midway Rd. in Dallas, has just hit the market.

Austin again has turned into a core market for Northland, which now owns 4,500 units in the city. “We re-entered in 2005 and think the area is well-positioned for the long-term,” Gottesdiener says. “It’s the state capital, is an information capital and has the university.” Austin particularly fits one of Northland Investments’ main strategies, which is investment in information technology-growth markets.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.