Atlanta, GA-based Cortland has acquired a portfolio of residential properties across seven states, bringing the firm’s total number of apartment homes to nearly 85,000.
Eastdil Secured represented the seller across the portfolio.
The portfolio includes several properties that had been primarily focused on corporate housing. Cortland’s vertically integrated platform will fully reimagine these communities and convert them to class A apartment homes with modern finishes and first-class amenities.
“The repositioning of corporate housing communities is a great opportunity for Cortland to offer more best-in-class resident experiences across the country,” said Mike Altman, CIO at Cortland.
The portfolio reinforces Cortland’s s position in Sunbelt and high-growth markets including Dallas, Atlanta, Raleigh and Denver, where the firm already has a significant presence.
“These regions are growing at an unprecedented rate as demand continues for well-located, highly-amenitized apartment homes,” said Altman.
Among the planned transformations is Cortland’s third community in VA, Cortland Arlington, formerly Oakwood Arlington.
Photo: Cortland Arlington
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