ORTHLAND INVESTMENT CORP. ACQUIRES SIX APARTMENT PROPERTIES IN SOUTHEAST

FLORIDA AND SOUTH CAROLINA — Newton-based Northland Investment Corp., on behalf of Northland Fund II L.P, has acquired six multifamily properties located in Florida and South Carolina. The portfolio includes Ballantrae, Via Lugano, Monterra at Bonita Springs, Fla., The Promenade at Reflection Lakes, Fla., The Quarter at Ybor City, Fla., and Madison at Park West in Charleston, S.C. All the properties are Class A assets constructed between 1999 and 2003. The garden-style communities feature resort-style swimming pools, state-of-the-art fitness centers, business centers, tennis courts, tile roofs and 9-foot ceilings. Additionally, the units feature spacious interior floorplans with an average size of 1,052 square feet, 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.