Northland Investment makes big northern purchase

MANCHESTER, Conn. — Newton, Mass.-based Northland Investment Corp. has purchased Avalon Pavilions, a 932-unit luxury apartment complex in Manchester, Conn., for $81.5 million. Alexandria, Va.-based AvalonBay Communities Inc. was the seller. Northland represented itself in the transaction, and Los Angeles-based CB Richard Ellis represented AvalonBay.

Avalon Pavilions features one-, two- and three-bedroom units ranging in size from 688 sq. ft. to 1,246 sq. ft. Amenities include a pool, fitness center and covered parking. The complex is located next to the 963,000 sq. ft. Buckland Hills Mall and is near an additional 1.5 million sq. ft. of retail development.