ORO VALLEY, ARIZONA — Northland Investment Corporation of Newton, MA (Matthew Gottesdiener, Chief Investment Officer) acquired Canyons at Linda Vista Trail, a 228-unit luxury apartment community in Oro Valley, for $41.25 million ($181,000 per unit). The purchase of the new development completed in 2014 by Boulder Oro Valley (Ross Rulney, manager) marks Northland’s second acquisition in Oro Valley.
Art and Clint Wadlund of Berkadia in Tucson handled the transaction for the seller. It closed January 8, 2019.
“Northland wanted to add and upgrade its Tucson portfolio,” Art Wadlund told us. “They also own Villas at San Dorado, and now have two of the nicest resort-style luxury apartment communities in beautiful Oro Valley submarket.”
In addition to the Oro Valley properties, Northland owns Hilands I & II and Promontory in Tucson.
Canyon at Linda Vista Trail is located at 9750 N Oracle Road and consists of one-, two- and three-bedroom apartment homes in 17 buildings spread out across 13 acres. It is fully stabilized and sold 96% occupied.
Residents enjoy high end apartments with convenient access to Canada Del Oro Riverfront Park, local parks, restaurants, shopping and entertainment; all with the gorgeous views of the mountains. Community amenities include gated access, hiking trails, pool & spa, state-of-the-art fitness center, pet park, putting green, clubhouse, bocce ball court, in-home washer & dryer, hardwood flooring, quartz countertops and stainless-steel appliances.
For more information, Art Wadlund should be reached at 520.299.7200 and Clint Wadlund is at 520.615.1100.
To learn more, see RED Comp #6497.