WEST PALM BEACH, FL - Northland Investment Corporation, a privately held real estate investment company, has acquired the 300-unit Cypress Shores in Coconut Creek, FL and the 202-unit Village Place in West Palm Beach, FL. The properties offer high-end housing with superior amenities in two desirable Florida neighborhoods.
With the addition of Cypress Shores and Village Place, Northland now owns and operates 20 properties and more than 5,600 apartment homes in Florida. The acquisition also includes the addition of 12 new Florida-based employees, bringing Northland’s total employees in Florida to 130. In total, Northland manages more than 21,000 residential apartment homes in multifamily properties across the U.S.
“Florida’s economy and population continue to grow, and Northland intends to continue building our presence in this vibrant state,” said Steven P. Rosenthal, President and CEO of Northland. “In addition to their exceptional amenities, Cypress Shores and Village Place are located close to other Northland properties and will benefit from our commitment to these locations.”
Cypress Shores, located at 1901 Lyons Road in Coconut Creek, includes 300 class A units in 13 buildings. The property is less than 15 minutes from Boca Raton, downtown Fort Lauderdale and Cypress Creek, and close to access to major routes. The property is two miles from Coconut Creek’s Main Street District which includes retail, cinemas and the Seminole Casino. Cypress Shores’ extensive amenities include a pool and poolside Wi-Fi, picnic areas, a fitness center, tennis and sand volleyball courts, a car wash bay, and three lakes with fountains.
Village Place, located at 2111 Brandywine Road in West Palm Beach, includes 202 class A units in 10 buildings. The property is just east of Village Boulevard and adjacent to I-95 and the Bear Lakes Golf Course. At Village Place, the ample amenities include a computer lounge; area for bar-b-ques and picnics; a multipurpose court for sports and recreation; a pool; a dog park; and a fitness center. In addition, Residents receive membership to three private community parks within The Villages – Faircloth, Perini and Stamford parks – which offer recreational activities including courts for tennis, racquetball and volleyball, jogging trails, swimming pools, kiddie pools, softball fields and picnic tables.
Northland Investment Corporation, a privately held real estate investment company with $3.0 billion in assets under management, is one of the top fifty multifamily asset owners in the U.S. Based in Newton, Massachusetts, Northland owns 86 properties in eight states, totaling more than 21,000 multifamily units. Northland’s portfolio also includes more than 2 million square feet of office, retail and commercial assets.