Press Releases

NORTHLAND INVESTMENT CORPORATION REFINANCES TWO MASSACHUSETTS PROPERTIES

11.23.2007, Newton, MA - Northland Investment Corporation today announced the refinancing of two apartment communities located in Western Massachusetts, totaling $23 million in mortgage financing. Cliffside Apartments is located in Sunderland, and Boulders Apartments is located in Amherst. The properties were refinanced for $13 million and $10 million respectively. The five-year, interest-only, fixed-rate loans were arranged by Meredith & Grew and were placed with Genworth Financial.

Both properties are garden-style multifamily communities, with 280 units and 256 units. Amenities at the complexes include fitness centers, playgrounds, soccer fields, swimming pools, and picnic areas.

About Northland Investment Corporation
Founded in 1970, Northland Investment Corporation is a privately held, fully integrated real estate company focused on the acquisition, development, operation and long-term ownership of commercial real estate throughout the United States. Northland owns a $1.5 billion diversified portfolio of 14.5 million square feet, with major concentrations in New England and along the southern tier of the United States. The company is positioned for future growth with a $1.5 billion development pipeline. For more information on Northland Investment Corporation, visit www.northland.com.

For more information, contact:
Sara Scarborough Graham
617.630.7259
sgraham@northland.com

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