Northland Breaks Ground on Expansion of SoRoc on Maine, Grows National Development Platform in Midwest

Northland, an $8 billion national private equity real estate firm, recently broke ground in Rochester, Minnesota for the development of a 194-unit Maine expansion of SoRoc. The Company acquired the 186-unit garden-style community in February 2022 with the intent to leverage its in-house national development platform to expand the existing claims of the asset in the vibrant South Rochester submarket.

Upon completion, the 380 total units will be operated collectively in five buildings covering approximately 13 acres and will share managerial functions and a robust array of indoor and outdoor amenities, including a resort-style pool, a spacious central green space with a bocce ball alley, and three modern fitness centers and a clubhouse with private event space and a commercial kitchen.

“Our team looks forward to delivering carefully designed and exceptionally built apartments that complete SoRoc’s vision of Maine, doubling the size of the community and leveraging Northland’s national development capabilities to provide residents with exceptional living and amenities,” said Santo Dettore, associate vice president of development at Northland. “Rochester is an incredibly attractive market and Northland is committed to expanding our Midwest portfolio. This groundbreaking marks an exciting step into the next phase of growth for our development platform and marks our first venture in the Midwest.”

SoRoc’s Maine expansion is approximately five acres and will feature a mix of studio, one and two bedroom homes in two three story buildings. The new units will complement the community’s existing Class A homes and will feature 9-foot ceilings, wood-style plank floors, custom shaker-style millwork, stainless steel appliances, solid-surface quartz countertops, and contemporary tile backsplashes. Select units also offer walk-out terraces on the ground floor and balconies on the upper floor. The project will also strengthen SoRoc on Maine’s existing facilities with additional studio space to complement the clubhouse fitness area and heated parking garages in each new building.

Northland is working with several local Minnesota companies on the expansion project, including Miller Architects & Builders and Minnwest Bank, who provided $28 million in construction financing. Residents of the new units are expected to be welcomed into the community in early 2024.

“SoRoc on Maine is a development with many amenities, and this expansion will bring much-needed premium homes to the Rochester community,” said Jason Vercruysse, senior vice president, commercial lending at Minnwest Bank. “We are proud to be working with Northland to fund the construction of these additional homes and look forward to continuing our relationship.”

With a primary focus on superior living experience, thoughtful interior design and sustainability, Northland’s $3 billion development pipeline includes a variety of garden, midrise and high-rise residential projects across the United States, including projects in Boston, Connecticut, New Mexico, Arizona, Atlanta, Denver and Richmond. The Company owns and operates a diversified multifamily portfolio that includes more than 26,000 homes in 15 states.

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