Northpointe at Vistancia Secures Over 450 Acres in Land Transactions

NORTHPOINTE AT VISTANCIA SECURES OVER 450 ACRES IN LAND TRANSACTIONS, PREPARES FOR FUTURE NORTH PEORIA GROWTH
CastleRock Communities Takes Large Phoenix Position in Northpointe, Shea Homes Introduces New Trilogy® Boutique Community™ and Richmond American Also Makes Land Purchase

Peoria (Date, 2023) – Northpointe at Vistancia, the 3,450-acre elevated desert living community located within the award-winning Vistancia master planned community, has recently secured over 450 acres in land sales poising the community for future growth.

Houston-based CastleRock Communities, looking to establish a larger position in the burgeoning North Phoenix-market, recently closed on 230 acres in Northpointe’s far northeast region. CastleRock plans to develop 479 lots, including three new product offerings custom designed for Northpointe, ranging between 1,500 and 3,500 square feet. CastleRock anticipates opening for sales in 2026.

Shea Homes®, which originally opened their signature Trilogy® 55+ community in the Vistancia master plan in 2004, is developing an additional 164 acres in Northpointe with a smaller scale 55+ community – Ridgecrest™ – a Trilogy® Boutique Community™. The initial phase, set at an elevated vantage point in Northpointe, is under construction and scheduled to open later this year. Ridgecrest at Northpointe will offer a selection of single-story open concept home designs, a resort-caliber club and amenity hub for residents. The community is planned to include 414 homesites upon completion.

“Northpointe at Vistancia is one of the most desirable new home developments in the Phoenix market, attracting buyers of all ages,” said Mark Hammons, General Manager of Vistancia. “Vistancia is offering high-quality home options for a diverse range of buyers who are looking for a beautiful desert sanctuary.”

Richmond American, one of Northpointe at Vistancia’s phase 1 inaugural homebuilders, also purchased an additional 164 homesites, 65 acres, in Northpointe that will feature two product lines and is planned to open spring 2025. The homesites are adjacent to the community’s 10-acre amenity park and The Sovita Club, a 5,300-square-foot recreation center featuring a resort-style pool, catering kitchen, movement and fitness studio, a multi-use court and basketball court, outdoor fireplace, event lawns, and kids outdoor play zone.

“Vistancia continues to garner attention from reputable homebuilders due to its intentional, well-thought-out design and desirable location,” said Richard Whiteley, Co-President and Chief Investment Officer at IHP Capital Partners. “As the Northwest Phoenix region experiences significant economic growth, there is an increased demand for quality housing options. We are pleased to see the sustained success of Vistancia, which has attracted top builders eager to be a part of its legacy. Our ongoing collaboration with the City of Peoria and community stakeholders underscores our commitment to strategically completing Vistancia’s vision.”

“Vistancia is tremendously well-positioned to contribute to and benefit from continued growth in Peoria and the surrounding community,” said Brendan Bosman, Senior Managing Director at Värde Partners, which has partnered with Vistancia and IHP Capital Partners on land development since 2021. “The Vistancia team has cultivated a highly sought-after community, which reinforces our thesis around sustained demand for thoughtfully designed master-planned communities in prominent southwest markets.”

Northpointe at Vistancia opened in 2021 and has sold approximately 500 homes to date. The community recently began selling its second phase of 469 homesites by homebuilders Pulte Homes, Beazer Homes and David Weekley Homes, which introduced the community’s first gated community. Homes start in the high $400,000’s and range from 1,683 to 3,554 square feet.

Upon completion, Northpointe at Vistancia is planned to include 3,200 single-family homes, private resort-style recreation centers, community parks, a K-8 elementary school, and a 1,100-acre mountain preserve with hiking trails and walking paths.

The Northpointe Visitor Center is located within The Sovita Club at 32900 N. White Peak Drive, Peoria, AZ 85383 and open daily from 10 a.m. to 5 p.m. For more information about Northpointe at Vistancia, visit liveatnorthpointe.com or call 623-933-6233.

About Vistancia
The award-winning Vistancia community is located in Peoria and set amongst a stunning backdrop of Sonoran Desert mountain ranges featuring dramatic views of White Peak and Twin Buttes mountains, four lifestyle residential communities, a 3.5 mile Discovery Trail, private community recreation centers with resort-style pools, two K-8 schools, parks, and two golf courses including the private Blackstone Country Club and daily fee Trilogy Golf Club. There are now three entrances into the Vistancia community. Take Loop 303 to Lone Mountain Parkway (exit 127), Jomax Road (exit 126) or Vistancia Boulevard (exit 125). For more information about Vistancia visit www.vistancia.com.

About IHP Capital Partners
IHP Capital Partners was founded in 1992 and celebrates three decades of industry leadership as one of the nation’s leading real estate investment firms. The company facilitates a path to success for its investor and development partners by providing equity for residential projects throughout the country, with a focus on the western U.S. A tactical partner and trusted fiduciary, IHP’s track record is built on experience, expertise and long-term sustained partnerships with well-known institutional investors and a wide range of the industry’s most notable builders and developers. For more information, visit www.IHPInc.com. Follow the company on LinkedIn.

About Värde Partners
Värde Partners is a leading global alternative investment firm with roots in credit and distressed. Founded in 1993, the firm has invested $80 billion since inception and manages $15 billion on behalf of a global investor base. The firm’s investments span corporate and traded credit, real estate and mortgages, private equity and direct lending. Värde employs more than 300 professionals worldwide with offices in Minneapolis, New York, London, Singapore and other cities in Asia and Europe. For more information, please visit www.varde.com.