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Terralane Communities, An IHP Capital Partners Company, Acquires 22 Acres in Queen Creek, Ariz. For New Amenity Rich Rental Home Community

Build-for-rent developer-operator bolsters portfolio, introduces new product type with first townhome community in high-growth Phoenix suburb

QUEEN CREEK, Ariz. – June 23, 2025 – TerraLane Communities, a premier developer and operator of high-quality rental neighborhoods and the build-for-rent platform of residential investment firm IHP Capital Partners, has acquired 22 acres in Queen Creek, Arizona for the development of TerraLane at Hudson Station. The new rental community will include 218 homes featuring single-level and two-story townhomes, along with a curated collection of lifestyle amenities.

The project marks TerraLane’s debut in the townhome segment, a strategic progression of its portfolio that reflects evolving renter preferences in the growing Phoenix Metro market.

“TerraLane at Hudson Station marks a significant milestone for our company as we expand our portfolio with a new home type that responds directly to the shifting market and completes our product offerings,” said Steve La Terra, CEO of TerraLane Communities. “Queen Creek is experiencing exceptional growth, fueled by strong demand for high-quality housing in a well-connected and family-oriented environment. We are proud to bring a new thoughtfully designed rental community to the area that blends innovation, lifestyle, and accessibility for future residents.”

The new community will include:

• 24 single-story two-bedroom duplex units (approximately 1,450 square feet)
• 97 three-bedroom townhomes (approximately 1,650 square feet)
• 97 four-bedroom townhomes (approximately 1,850 square feet)

Each home will feature a two-car direct access garage, stainless steel appliances, and integrated smart home technology such as keyless entry, remote thermostat controls, and fiberoptic cabling to support future connectivity needs.

Community amenities will include a gated entrance, heated swimming pool and jacuzzi, fitness center, grass park, shaded tot lot, BBQ stations, valet trash service, and on-site maintenance. Wi-Fi will be available throughout common areas, and all homes will be pet-friendly with built-in doggy doors.

“TerraLane at Hudson Station represents a strategic expansion for TerraLane and IHP Capital Partners. It reflects IHP’s broader investment thesis and commitment to meeting evolving housing needs,” said Richard Whiteley, Co-President of IHP Capital Partners. “Queen Creek has become a sought-after destination for families and professionals seeking modern living options beyond the urban core. TerraLane at Hudson Station will deliver a distinct and high-quality rental experience that supports the region’s continued smart growth.”

TerraLane is partnering with general contractor, Hancock Builders, in the construction of TerraLane at Hudson Station. This will be the sixth residential development the two firms are completing together. Mark-Taylor Residential will oversee leasing and property management. Financing for the project is being provided by 400 Capital Management and Western Alliance Bank. Construction has commenced and leasing is anticipated to begin in 2027.

“Our financing of the Hudson Station project is emblematic of our continued conviction in providing flexible capital structuring for entry level housing in supply-constrained markets across the US,” said Alex Andrzejewski, Portfolio Manager at 400 Capital Management.  “The institutional quality of our partners at IHP and TerraLane as well as the product that Hudson Station will produce align with our strategic focus and the significant opportunities that we see in the build-to-rent and the single-family rental housing market, generally.” 

Located at the southeast corner of 220th Street and Queen Creek Road, TerraLane at Hudson Station is positioned in one of the Valley’s fastest growing and most desirable submarkets. The project is adjacent to Frontier Family Park and Benjamin Franklin Charter School and within walking distance of a newly opened Fry’s grocery-anchored shopping center. Residents will enjoy access to a wide range of neighborhood amenities, including restaurants, retail, and recreational spaces such as pickleball and baseball fields, a fishing lake, and an aquatic center.

About TerraLane Communities

Founded in 2019, TerraLane Communities is a premier developer of high-quality modern single-story rental homes and the build-to-rent platform of residential equity provider IHP Capital Partners. With offices in Scottsdale, Ariz. and Newport Beach, Calif., TerraLane brings high-tech and spacious maintenance-free living to select markets in the western U.S. and Texas. The company has completed or is currently under construction on more than 1,300 expertly designed residences in the Phoenix Metro. With a broad array of rental housing products, TerraLane is executing its plan to expand into new high-growth geographies throughout the southwestern U.S. and Texas. For more information, visit terralanecommunities.com. Follow the company on LinkedIn.

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 400 Capital Management LLC

Founded in 2008, 400CM is an alternative credit asset manager led by a management team with over three decades of experience investing and trading in credit markets. The firm is an established, process-oriented platform with a demonstrated ability to consistently generate competitive returns, develop capital markets businesses and create innovative solutions utilized throughout the market. The firm offers investors a global platform that accesses differentiated credit investment opportunities through total and absolute return strategies in flagship funds and customized portfolio solutions. The team consists of 76 professionals across offices in New York and London, who collectively manage over $7.7 billion for global institutional investors. To learn more about 400CM, please visit www.400capital.com. Follow the firm on LinkedIn.