Is a Sheltie suitable for apartment living?

I'm looking into getting a tri color Sheltie puppy but currently reside in a tiny one bedroom apartment. I live a very active lifestyle (I own a horse that care for daily) my dog could enjoy 40+ acres and I also enjoy daily walks so my dog would get plenty of exercise! My only concern is that they can be barkers, but my dog would also never be left home alone because my mother will ''babysit'' while I attend school part time. I really enjoy the Sheltie breed, but will a smaller breed like a Pomeranian or Papillion be more appropriate?