Regions Southeast
Northland Investment Buys Royal St. George in Florida
July 1, 2008

Northland Investment Corp. said today that Northland Fund III L.P. has acquired The Royal St. George, a 224-unit apartment community located in West Palm Beach, Fla., for an undisclosed sum. The transaction was brokered by Robert Given at CB Richard Ellis. One of West Palm Beach’s few remaining class A luxury rental communities, The Royal St. George overlooks the exclusive Bear Lakes Country Club. Proximate to Interstate 95 and the Florida Turnpike, the community is located minutes from downtown retail, entertainment and lifestyle centers, including City Place, The Palm Beach Lakes Mall, and The Village Commons Shopping Center. Property amenities include semi-direct access garages and gated control access, a newly remodeled clubhouse with business center, an entertainment area with plasma television, a freshly renovated 24-hour fitness center with state-of-the-art Cardio Theater, pool, spa, lighted tennis court and car care center.

 
Recent Southeast Headlines
Orinda, Octagon Eye Strong Area Fundamentals for Atlanta Conversion Project
The nationwide downturn in employment is chipping away at demand in the apartment market, but there are still those communities here and there where the call for more rental accommodations remains relatively strong. To that end, Orinda Corp. and Octagon Capital Partners, having found just such a community, have acquired a 350,000-square-foot office building in a college-laden district of Atlanta for a $35 million apartment conversion project.