One of the top-10 multifamily housing firms announced its entry to the Treasure Valley market on Feb. 3. Cortland Partners LLC of Atlanta, Georgia, acquired the Indigo multifamily apartments in Meridian, which it renamed the Cortland South Meridian. The 336-unit apartment community is on 19.5 acres at 1871 S. Spanish Fork Way, just off of Overland Road and spitting distance to the Ten Mile Road interchange off of I-84.

The complex includes studio, one-bedroom, two-bedroom and three-bedroom units plus high-end amenities including a pool, heated spa, clubhouse with full kitchen, up-to-date gym complex including complimentary group classes, pond and walking trails and complimentary espresso bar and kombucha on tap.

The complex was built in 2020, according to City of Meridian and Ada County Assessor records. The purchase price was not disclosed. The Ada County Assessor’s Office records report a $42.6 million valuation for the land and buildings.

Mike Altman is the chief investment officer for Cortland. He told the Idaho Business Review (IBR) that the firm is looking to expand its properties in Treasure Valley: “For Cortland to deliver on its resident experience, we are really pushing to have a number of properties…four to six properties soon, so that we can have the regional services and an appropriate level of staff and support for those staff and associated members, so we can ultimately deliver that above-and-beyond resident experience that Cortland aims to deliver.”