MADISON, WI (August 8, 2022) – Leading real estate private equity firm Northland announced its entrance into the Wisconsin market with the acquisition of Preserve West, a 318-unit, garden-style community that offers one, two and three-bedroom homes in Madison. Formerly known as ReNew 78 West, this is the second property that Northland has acquired in the Midwest this year. In February, the firm entered the region with the acquisition of SoRoc on Maine in Rochester, Minnesota. This acquisition comes at an exciting time of expansion for Northland, marking the firm’s ninth acquisition in the past seven months.
“As Northland continues to expand its Midwest footprint, we’re thrilled to announce our entrance into the Madison market with the acquisition of Preserve West,” said Mike Campbell, Vice President of Investments. “Madison fosters a business-friendly environment conducive to economic growth through access to public capital and a strong pipeline of young professionals. Preserve West is an ideal addition to Northland’s growing portfolio, offering uniquely large floor plans in a supply constrained pocket of Madison.”
Preserve West spans 17 two- and three-story buildings across roughly 20 acres. Each building offers underground parking, and community-focused amenities include a clubhouse, fitness center, co-working space, and communal kitchen. The beautifully landscaped property also boasts several outdoor grilling stations and pergolas for residents to enjoy.
Located along the Beltline in the West Madison submarket, Preserve West offers convenient access to a variety of local retail and dining options. Residents are within walking distance of several grocery stores, and conveniently located nearby the West Towne Mall. For those attracted to outdoor lifestyles, there are numerous recreational options available close by, including parks, golf courses, and ice arenas. Large regional employers in the area include Epic Systems, American Family Insurance, Spectrum Brands, and the University of Wisconsin.
Northland owns and operates a diversified multifamily portfolio that includes more than 26,000 units across the U.S. These acquisitions add to Northland’s portfolio of long-term markets across 14 states spanning New England, the Midwest, and Southwestern and Southeastern regions.