Northland recently acquired Parke Place, a newly constructed residential community in Prescott Valley that offers standalone residences, a new asset class for the firm. This strategic investment leverages the historic demand for build-to-rent homes, currently one of the best-performing U.S. housing asset classes.

Parke Place features 145 single-family rental homes and duplexes with one-, two- and three-bedroom options in standalone and side-by-side style buildings with private fenced-in yards. The development spans 13 acres.

This marks Northland’s seventh community in Arizona and its second in the Prescott market following the acquisition of the nearby Homestead Talking Glass apartment community in November 2021.

“We’re thrilled to continue the expansion of Northland’s portfolio in thriving northern Arizona,” said Mike Campbell, Northland’s associate vice president of investments. “Parke Place is an ideal addition to our residential portfolio as it provides a unique blend of single-family living within an amenity-rich community. Not only does Prescott continue to see strong economic activity, the area also offers residents the opportunity to enjoy an active downtown lifestyle amid Arizona’s stunning landscape.”

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PRESCOTT VALLEY, AZ (January 25, 2022) – Northland announced the acquisition of Parke Place, a newly constructed residential community in Prescott Valley, Arizona, that offers standalone residences, a new asset class for the firm. This strategic investment leverages the historic demand for “build to rent homes,” currently one of the best performing housing asset classes in the United States. Parke Place features 145 modern single-family rental homes and duplexes with one-, two-, and three-bedroom options in standalone and side-by-side style buildings. The property also offers private fenced in yards to maximize residents’ outdoor space and well-appointed amenities. Parke Place marks Northland’s seventh community in Arizona and its second in the Prescott market following the acquisition of the nearby Homestead Talking Glass apartment community in November 2021.

Parke Place spans 13 sprawling acres, creating a private neighborhood with plenty of open space for residents to enjoy. Each spacious apartment features ten-foot ceilings, stainless-steel energy efficient appliances, granite countertops, wood flooring, recessed lighting, side-by-side washers and dryers, walk-in closets with built-in shelving, sliding glass doors with access to private backyards, and ceiling fans in living areas and bedrooms. Amenities include a resort-style swimming pool and spa with a poolside lounge area and grilling stations, a dog park and pet spa, and an outdoor entertainment area with lounge seating and lawn games.

“We’re thrilled to continue the expansion of Northland’s portfolio in thriving northern Arizona,” said Mike Campbell, Northland’s Associate Vice President of Investments. “Parke Place is an ideal addition to our residential portfolio as it provides a unique blend of single-family living within an amenity-rich community. Not only does Prescott continue to see strong economic activity, the area also offers residents the opportunity to enjoy an active downtown lifestyle amidst Arizona’s stunning landscape.”

Parke Place’s central location in downtown Prescott Valley’s Entertainment District offers walkable access to the city’s eclectic shopping, dining, and entertainment options including the Findlay Toyota Center, a 6,200-seat sports and event venue.

Northland owns and operates six other properties in Arizona, including Homestead Talking Glass in Prescott Valley, the Villas at San Dorado and The Canyons at Linda Vista Trail in Oro Valley, and Pima Canyon, Promontory, and Hilands in Tucson.

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PRESCOTT VALLEY, AZ (November 4, 2021) – Northland Investment Corporation today announced the acquisition of Homestead Talking Glass, a luxurious residential community in Prescott Valley, Arizona. Featuring 214 one-, two-, and three-bedroom homes across 15 buildings, the development offers a best-in-class residential experience with top-of-the-line homes in a thriving location. This property marks Northland’s entrance into the Prescott market and is its sixth Arizona community.

“With its beautifully appointed homes, luxurious amenities and convenient lifestyle, Homestead Talking Glass is an ideal addition to our portfolio,” said Mike Campbell, Northland’s Associate Vice President of Investments. “Arizona has long been one of our top-performing markets, and we are thrilled to expand our presence in the region with this acquisition.”

The homes at Homestead Talking Glass are situated across 9.4 sprawling acres of land. Each spacious apartment features nine-foot ceilings, modern kitchens with custom cabinetry, granite countertops, gourmet islands, tile backsplashes, and stainless-steel energy efficient appliances. Residents enjoy a variety of features that include walk-in closets, recessed lighting, full-sized in-home washers and dryers, private balconies and patios, and stunning city and mountain views. A suite of resort-inspired amenities provides an enhanced lifestyle for residents and includes a pool and spa; an outdoor pavilion and covered ramada that features a sitting area, TV and lawn games; a 24-hour fitness center with a virtual trainer; an on-site resident cinema room; a private dog park and indoor dog washing station; a spacious indoor lounge with a sitting area, TV, fireplace, and spacious kitchen; complimentary concierge services; and outdoor gas grilling stations.

Homestead Talking Glass also offers residents convenient proximity to community amenities and attractions. Its prime location in downtown Prescott Valley, known as the Entertainment District, is walking distance to premier shopping, dining and entertainment offerings, as well as quick access to highways 69 and 89A. Popular nearby establishments include Gabby’s Grill, Colt Grill, the Saturday morning Farmer’s Market, the Findlay Toyota Center sports and concert arena, and several nearby nature trails.

Northland owns and operates five other properties in Arizona, including the Villas at San Dorado and The Canyons at Linda Vista Trail in Oro Valley and Pima Canyon, Promontory, and Hilands in Tucson.

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One of the country’s largest apartment owners has bought its fifth complex in the Tucson area.

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NEWTON, MA (August 21, 2019) – Northland Investment Corporation has announced the acquisition of Pima Canyon, the firm’s third Class A community within the Tucson submarket. Pima Canyon is a newly constructed asset that offers 240 one, two and three-bedroom apartments. This latest acquisition brings the firm’s Tucson portfolio to 2,032 units and makes Northland the second largest owner in the city’s metro area.

“As our company expands its presence throughout the Southwest, we continue to see tremendous value in Tucson,” said Matthew Gottesdiener, Chief Investment Officer of Northland Investment Corporation. “We’re excited that the acquisition of Pima Canyon adds another luxury asset to our portfolio and one that helps us offer a compelling unit mix to prospective residents in the region.”

Pima Canyon provides an opportunity to live within a beautiful gated community that boasts high-end finishes, 10’ ceilings, and a suite of amenities that includes a resort-style pool and spa, fitness center, luxurious club house and more. There is also potential for a second phase of development, which would add an additional 50 units. Northland will deliver immediate performance improvements to the property, which is adjacent to its other Tucson luxury assets, Villas at San Dorado and The Canyons at Linda Vista Trail. With this latest acquisition, Northland intends to leverage its scale in the market by offering residents a single source to access Tucson’s prime apartment options and resident experiences.

Tucson has undergone significant population and job growth, which combined with its limited housing supply, has helped contribute to its nation-leading increase in rental rates over the last three years. Northland has more than 25 years of experience in the region, with a portfolio that also includes Hilands I and II, and Promontory.

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NEWTON, MA (July 11, 2019) – Northland Investment Corporation today announced the acquisition of The Canyons at Linda Vista Trail, a brand new construction asset in Oro Valley, Arizona. The property offers 228 one to three-bedroom high-end multifamily units across 13 acres and marks Northland’s fourth acquisition in Greater Tucson, which has been the firm’s top performing market over the last two years.

“We are thrilled to be adding The Canyons at Linda Vista Trail to our portfolio in a market where we have experienced great success and see continued room for growth and expansion, given high demand and currently low levels of supply,” said Matthew Gottesdiener, Chief Investment Officer of Northland Investment Corporation. “With our other assets in-market, Canyons will benefit greatly as it relates to staffing, contract negotiation and unit mix offering.”

The gated community offers resort-style living with premier features that include nine-foot ceilings, hardwood floors, quartz countertops, stainless steel appliances and beautiful views of the Santa Catalina Mountains. Residents will enjoy an amenity package that offers a state-of-the-art fitness center and spa, a swimming pool, outdoor grill areas, a bocce ball court, putting green, pet park and more. The community is located in close proximity to local parks such as the Canada Del Oro Riverfront, hiking areas, restaurants, schools, job centers and high-quality retail.

A highly sought-after market, Tucson’s population continues to expand at a rate almost double the national average and is projected to remain at this pace for the next few years. The Canyons at Linda Vista Trail community is located less than one mile from Northland’s multifamily asset in Oro Valley, Villas at San Dorado. This acquisition gives Northland 26% of the multifamily inventory within this region and brings its Tucson portfolio to nearly 1,800 units. The firm also owns and operates Hilands I & II and Promontory, both multifamily assets in Tucson.

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