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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.

“Through the decades, one of Crosland’s competitive advantages has been our private funding,” Todd Mansfield, chairman and CEO of Crosland, says in a statement. “Historically, this allowed us to invest in communities with an emphasis on long-term value creation over short-term returns. The Southeastern Investment Fund allows us to strengthen this advantage, while also broadening our reach and expanding our development pipeline.”

Jamie Dunn, Crsoland’s vice president of investments, and Perry Reader, Florida division president, will manage the fund. “This fund will facilitate Crosland’s continued growth by allowing earlier-stage land control and capacity for larger-scale projects,” Dunn explains. “Our partnership with Northwestern Mutual enables us to get out ahead of the development curve and positions us to more positively impact the communities in which we do business.”

M3 Capital Partners LLC served as the exclusive financial advisor to Crosland.

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