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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