Northland Expands Florida Portfolio with Acquisition of The Palmeri Residences in Naples
Newly Delivered Class A Apartment Community Offers Premium Living and Increases Northland’s Southwest Florida Presence
October 18, 2025 – Naples, FL – Northland, a national real estate private equity firm with $8 billion of assets under management, announced today the acquisition of The Palmeri Residences (formerly known as Atlis Santa Barbara), a newly delivered, Class A, 242-unit apartment community in Naples, Florida. With this acquisition, Northland expands its Southwest Florida portfolio to 13 properties and 4,121 units, further solidifying its position as a leading owner and operator in the region.
Palmeri Residences is a best-in-market, gated, concrete-block community that debuted in summer 2024. The property combines elevated design and construction with elegant resort-inspired living. Featuring 13 unique floor plans, the community offers 68 one-bedroom, 132 two-bedroom, and 42 three-bedroom units, averaging 1,077 square feet. The mix of five-story, elevator-serviced buildings and highly sought-after three-story direct-access townhomes delivers both convenience and privacy. Of the 90 townhome units, 33 feature private garages.
Each unit was designed with meticulous detail, featuring nine-foot ceilings, stainless-steel appliances, white quartz countertops, chef-inspired kitchen islands, custom hardwood cabinetry with soft-close features, subway tile backsplashes, en-suite bathrooms, and full-size washers and dryers. The community’s robust amenity package includes a heated saltwater pool with sundecks and cabanas, an outdoor entertainment area with grilling stations, a modern clubhouse with a 24-hour fitness center, game room, theatre, conference rooms, and co-working spaces.
“We’re excited to welcome The Palmeri Residences to Northland’s Southwest Florida portfolio,” said Mike Campbell, Vice President of Investments. “This rare, market-rate community offers a premium living experience in a rapidly evolving and highly desirable Naples location, and we look forward to enhancing the community for its residents.”
To improve the resident experience and operational efficiencies, Northland plans to introduce smart home technology throughout the community, expand bulk internet service, and add screened-in patios to 78 first-floor units. These enhancements are designed to provide added convenience and comfort for residents while complementing the community’s modern design and premium amenities.
Palmeri Residences is situated in one of Naples’ most desirable and fastest-growing neighborhoods, surrounded by upscale residences, top-rated schools, parks, golf courses, and a variety of dining and entertainment options. The community is less than five miles from Tamiami Trail and a 10-minute drive to Downtown Naples (Old Naples), providing residents with easy access to shopping, cultural attractions, and neighboring Lee County. With Collier County expected to welcome roughly 100,000 new residents over the next 20 years, the area continues to offer a dynamic and thriving environment for both current and future residents.