Newton-based Northland Investment Corp has acquired a Land O’Lakes, Fl. multi-family property in a $52.9 million transaction. The asset, Alta at Terra Bella, which is located at 23700 Viento Drive, will be rebranded as The Village at Terra Bella. The 311 unit community consists of 14 three-story buildings and an 11,000-square-foot clubhouse with sports lounge. The community boasts a saltwater swimming pool, outdoor summer kitchen, dog park, and detached and breezeway-access garages. The property is part of the 220 acre Terra Bella mixed use development, which includes medical office and retail uses, in addition to 253 single-family home sites. The sale was completed with a $42.3 million loan provided by CBRE Capital Markets.
