Press Releases

NORTHLAND INVESTMENT CORPORATION ACQUIRES SIX CLASS A APARTMENT COMMUNITIES

01.03.2008, Newton, MA - Northland Investment Corporation, on behalf of Northland Fund II, L.P., is pleased to announce the recent acquisition of six properties: Ballantrae, Via Lugano, Monterra at Bonita Springs, The Promenade at Reflection Lakes, The Quarter at Ybor City and Madison at Park West. The Class A apartment communities, constructed between 1999 and 2003, are all located in Florida, with the exception of Madison at Park West (Charleston, South Carolina).

The garden-style communities offer amenities including resort-style swimming pools, state-of-the-art fitness centers, business centers, tennis courts, tile roofs and nine-foot ceilings. Apartment features include spacious interior floor plans with an average size of 1,052 SF, gourmet kitchens with stainless steel appliances and granite countertops, oversized tubs and generous closet space. With this acquisition, Northland’s Florida portfolio now includes more than 2,800 units.

Lawrence R. Gottesdiener, Chairman of the Board, Northland Investment Corporation, said, “The recent turbulence in the capital markets presents an attractive entry point to increase our Florida presence. We are particularly pleased to upgrade our portfolio with six Class A communities, all in excellent locations.”

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 $1.7 billion diversified portfolio of 15 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 $1.06 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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