Northland Acquires Unique Single-Family Rental Community in Texas
Walker Place at Moonlight Park expands Northland’s Waco portfolio to three communities offering a diverse range of rental homes across the region
August 12, 2025 –Waco, TX– Northland, a national real estate private equity firm with $8 billion of assets under management, announced today the acquisition of Walker Place at Moonlight Park, a newly constructed, built-to-rent (BTR) single-family rental community located in the affluent and job-proximate Hewitt submarket of Waco, Texas. The addition of Walker Place expands Northland’s presence in the Waco market, where it also owns and operates The Legend (300 units) and Flats on Chapel (216 units), to a total of 614 units.
Northland’s Waco portfolio offers a diverse mix of rental options, with one- to four-bedroom garden-style apartments and single-family residences to choose from. Rent levels span a broad range, designed to meet the budget and lifestyle needs of a wide variety of prospective residents. “Walker Place at Moonlight Park complements our growing Waco portfolio by adding a unique single-family rental option that caters to shifting resident preferences and emerging lifestyle trends driven by a continuously expanding population along the I-35 corridor,” said Mike Campbell, Northland’s Vice President of Investments.
Walker Place at Moonlight Park features 98 detached, single-family apartment homes with 9-foot+ ceilings and luxury interior finishes, including granite countertops, custom shaker-style cabinetry, and vinyl plank flooring on all first floors. Each home at Walker Place offers a true single-family rental experience, featuring open floor plans, attached two-car garages, private driveways, large fenced-in backyards, and high-end finishes throughout. Its best-in-class location and thoughtful design provide residents with the space, privacy, and quality of new for-sale homes, with the convenience of a professionally operated residential community.
Located just six miles from Northland’s nearby community, The Legend, Walker Place at Moonlight Park is strategically positioned along the I-35 corridor with convenient access to both Dallas and Austin. The community will be supported by the same award-winning management team behind The Legend, benefiting from Northland’s proven operational platform and regional expertise. Residents also enjoy access to highly rated schools, new retail development, and close proximity to Texas Central Park, an employment hub home to 75 companies and more than 8,600 employees, including Coca-Cola North America, Masterfoods USA, Caterpillar, Refresco, and Mars Wrigley. The community is also near Baylor University, one of Texas’s premier higher education institutions, and an Amazon fulfillment center completed in 2022 that brought more than 1,000 jobs to the area.
Northland plans to implement strategic operational enhancements over the first three years of ownership. These plans include installing refrigerators and washer/dryer sets and replacing second-floor carpeting with vinyl plank flooring in the two-story homes. These improvements are designed to meet evolving resident expectations and support long-term durability. Northland will also implement SmartRent technology across all homes to create a more connected and convenient living experience.