Press Releases

NORTHLAND INVESTMENT CORPORATION ACQUIRES NORTHGATE APARTMENTS

05.19.2008, Newton, MA - Northland Investment Corporation announced today that Northland Fund III LP has acquired Northgate Apartments, a 179-unit apartment community located in Middletown, Rhode Island. The acquisition marks Northland’s entry into Rhode Island.

Northgate is just one mile from downtown Newport, and minutes from exclusive shopping, galleries and restaurants. Residents also enjoy prime access to beaches, boating and fishing. Northgate is comprised of 14 buildings, and includes mature landscaping, outdoor picnic areas, a swimming pool and a tennis court. Apartment features include fully equipped kitchens, spacious oversized closets, private balconies and ceramic tile bathrooms. Northland plans to invest approximately $1.5 million over the next two years, making improvements to both the exterior and interior of the property.

Steven P. Rosenthal, Chief Executive Officer, Northland Investment Corporation, said, “Northgate is a well located asset in an exceptionally high barrier to entry market, and represents an attractive value add opportunity for Northland.”

About Northland Investment Corporation
Founded in 1970, Northland Investment Corporation is a privately held, vertically integrated real estate company focused on the acquisition, development and operation of commercial real estate throughout the United States. Northland owns a $2.5 billion diversified portfolio of 22 million square feet in fourteen states. 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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