Real estate private equity firm Northland has entered 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, Wisconsin.
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 marks the firm’s ninth acquisition in the past seven months.
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 property also boasts several outdoor grilling stations and pergolas.
Located along the Beltline in the West Madison submarket, Preserve West offers 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.
