NRI breaks ground on residences featuring high-end amenities and easy access to inlet, Atlantic Ocean

COLUMBUS, Ohio – Oct. 13, 2006 – Columbus-based Nationwide Realty Investors (NRI) announced today that it has broken ground for its luxury Cannonsport Condominiums development in Palm Beach Shores, Fla. Cannonsport Condominiums will offer 36 upscale residences with easy access to Lake Worth Inlet and the Atlantic Ocean.

"We are proud to bring this unique residential project to Palm Beach Shores," said Brian J. Ellis, president and COO of NRI. "These new condominiums are built to scale to enhance and complement the character of this waterfront community, and are conveniently close to premium recreational, dining and shopping outlets. We saw this as an outstanding opportunity to develop something truly special in the marketplace."

Opening in 2007, the three-story, five-building condominium project is located on Lake Worth and only minutes away from the Lake Worth inlet and Atlantic Ocean. The Gulf Stream flows within five miles of the Atlantic coast in Lake Worth, resulting in a strong sport-fishing and boating environment.

The property's location will allow for direct views of the inlet and of Cannonsport Marina by residents from their condominiums. The adjacent full-service marina will feature 54 boat slips for vessels ranging in size from 30' to 125'.

The condominiums will range from 1,750 square feet to 2,700 square feet, and offer top-of-the-line finishes, including kitchens with granite countertops, custom cabinetry and large, built-in pantries. Among other property features are oversized balconies with views of the marina, lush landscaping with swimming pool and attached parking.

About Nationwide Realty Investors, Ltd.
Nationwide Realty Investors (NRI) is active throughout the United States with a diverse portfolio of innovative office, retail, hotels, apartments and condominiums. NRI owns more than $1 billion in real estate investments, including Cannonsport Condominiums, directly and through joint ventures.