Park Place Properties

What Park Place Properties does

Park Place Properties, LLC is a privately-held residential apartment management company headquartered in Huntington, West Virginia. The company manages approximately 150 apartments and homes across eight company-owned and company-constructed communities in the Huntington metro area, including Park Place, Timber Point, French Colony, Jamestown, Monticello, Normandie, Piedmont, and a furnished/corporate housing division. Units range from 375 sq ft studios to 1,535 sq ft three-bedroom townhouses, with rents spanning roughly $550 to $1,100+ per month depending on unit size, location, and amenities.

The company's primary customer segments are Marshall University graduate students (medical, pharmacy, and forensic science), medical professionals at the Huntington VA Medical Center and area hospitals, working professionals and young families, and corporate clients requiring short-term furnished housing. Park Place operates as a direct-to-consumer residential leasing business with property tours, an online application system, and a $200 resident referral incentive. Technology is limited to third-party integrations — Resident360 for the website and resident portal, RentPayment for online rent collection, and the Resident Express mobile app on iOS/Android for service requests — with no proprietary AI or data assets.

Founded in 1984 as J.C. Spence Company by Chris Spence and split off into Park Place Properties, LLC in 1998 to serve the Marshall University graduate housing niche, the company merged the original J.C. Spence Company (senior housing) back into Park Place Properties in fall 2013 to consolidate operations. It remains a small, founder-controlled operator with 1–10 employees, no institutional investment, and a single-market footprint.

Name

Park Place Properties

Legal name

Park Place Properties, LLC

Website

https://parkplacewv.com

Company type

Private

Founded year

1984

Operating status

Operating

Headcount range

1–10 employees

Short description

Park Place Properties, LLC is a privately-held Huntington, West Virginia apartment management company operating approximately 150 units across eight company-owned communities, primarily serving Marshall University graduate students, medical professionals at the Huntington VA Medical Center, and local working families through direct-to-consumer residential leasing and short-term furnished housing.

Ownership category

akta.pro rank

Product category

Residential Apartment Rentals

NAICS

Residential Property Managers (531311), Rental and Leasing Services (532)

SIC

Operators Of Apartment Buildings (6513), Real Estate Operators (No Developers) & Lessors (6510), Services-To Dwellings & Other Buildings (7340)

akta.pro primary industry

HOA / Condominium Association Management (BPAJAFAH)

akta.pro secondary industry

Executive Apartments (Corporate Housing) (THAGAEAD)

Keywords

• Residential apartment rentals
• Property management services
• Furnished corporate housing
• Student apartment leasing
• Short-term housing rentals

Headquarters

HQ city

Huntington

HQ country

United States

HQ region

North America

Offices8 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Supply Chain, Marketing or Sales, Technology or R&D

Revenue model

1. Residential Apartment Rental: Monthly rental revenue from approximately 150 apartments and homes across 8 communities in Huntington, WV. Standard lease terms of 3, 6, or 12 months with variable pricing based on unit size and amenities.
2. Short-term/Furnished Housing: Fully furnished apartments for traveling medical professionals, corporate clients, and short-term needs with comprehensive housekeeping packages and all-inclusive pricing.
3. Pet Fees and Rent: One-time $250 non-refundable pet fee plus $30 monthly pet rent per apartment.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

Park Place Properties owns, manages, and leases approximately 150 apartment units across 8 communities in Huntington, WV, offering studio to three-bedroom apartments with both short-term furnished and long-term unfurnished housing options. They serve Marshall University graduate students, medical professionals at area hospitals, and working professionals and families. The company operates as a B2C residential rental and property management business with 24-hour maintenance, housekeeping, and resident services.

Product overview

Park Place Properties is a portfolio of eight apartment communities in Huntington, WV, offering approximately 150 units ranging from studios to three-bedroom townhouses. The portfolio includes seven standard apartment communities (Park Place, Timber Point, French Colony, Jamestown, Monticello, Normandie, Piedmont) plus a Furnished/Corporate Housing division for short-term and medical professional housing. The flagship Park Place community offers the most amenities including a pool, fitness center, and clubhouse, while other communities provide varying levels of amenities. The company supplements its physical properties with a Resident Express mobile app for digital service requests and communications. Target markets include Marshall University graduate students, medical professionals at area hospitals, and working professionals.

Differentiator

Problem solved

Functional benefit

Products and services

• Park Place Community Flagship apartment community in Huntington, WV, offering residential rental units managed by Park Place Properties. Targeted at Marshall University graduate students, traveling medical professionals, and working professionals seeking long-term or short-term furnished housing.
• Timber Point Apartment community in Huntington, WV, part of the Park Place Properties portfolio. Offers residential rental units to long-term tenants, including graduate students and working professionals.
• French Colony Apartment community in Huntington, WV, part of the Park Place Properties portfolio. Offers residential rental units to long-term tenants, including graduate students and working professionals.
• Jamestown Apartment community in Huntington, WV, part of the Park Place Properties portfolio. Offers residential rental units to long-term tenants, including graduate students and working professionals.
• Monticello Apartment community in Huntington, WV, part of the Park Place Properties portfolio. Offers residential rental units to long-term tenants, including graduate students and working professionals.
• Normandie Apartment community in Huntington, WV, part of the Park Place Properties portfolio. Offers residential rental units to long-term tenants, including graduate students and working professionals.
• Piedmont Apartment community in Huntington, WV, part of the Park Place Properties portfolio. Offers residential rental units to long-term tenants, including graduate students and working professionals.
• Furnished Short-Term Corporate Housing Furnished one-, two-, and three-bedroom short-term rental apartments for traveling nurses, medical residents, and corporate transferees. Includes utilities and housekeeping; flexible lease lengths aligned with hospital and corporate contract durations.
• Resident Express Mobile App Mobile application (iOS/Android) for residents of Park Place Properties communities to pay rent, submit maintenance requests, and manage their residency account.

Quantifiable outcome

• Nearly 150 apartments and homes managed across 8 communities
• +1 more outcomes

Named customers7 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature3 records

Partnerships

Six partnerships are on record, tiered core and minor.

• Marshall University School of MedicinecoreStrategic or Co-development PartnerLong-standing preferred provider relationship for housing Marshall University medical students since founding. This niche market focus has been a core part of the company's growth strategy.
• Marshall University School of PharmacycoreStrategic or Co-development PartnerPreferred housing provider for pharmacy students with relationship growing alongside the school's expansion. The company was specifically split off into Park Place Properties, LLC in 1998 to serve this niche market.
• Marshall University School of Forensic SciencecoreStrategic or Co-development PartnerContinued partnership with forensic science graduate program following the established model with medical school housing.
• Huntington VA Medical CentercoreStrategic or Co-development PartnerClose geographic proximity enables housing for hospital employees. The company also provides short-term housing to medical professionals working at various area hospitals through relationships with housing placement companies across the country.
• Housing Placement CompaniesminorChannel Partner/ Reseller/ DistributorNational housing placement companies that refer traveling medical professionals and corporate clients to Park Place Properties for short-term furnished housing.
• J.C. Spence Company, LLCcoreOthersParent company and sibling entity; J.C. Spence Company was the original business founded by Chris Spence in 1984 and specializes in senior housing. Merged operations with Park Place Properties in fall 2013 to simplify operations.

Scale indicators3 records

Recent moves8 records

Expansion highlights4 records

Emerging players

• Sonder Holdings: Operator of short-stay furnished apartments and serviced units targeting business and leisure travelers. Comparable along furnished short-stay apartment product and corporate/traveling professional customer base, though Sonder is at significantly larger scale.

Direct peers

• Blueground: Tech-enabled operator of furnished and unfurnished apartments for short and medium-term stays, primarily serving traveling professionals and corporate clients. Directly comparable to Park Place's furnished/corporate housing line in business model, target customer, and unit economics.

Broad incumbents

• AvalonBay Communities: Large apartment REIT focused on owning, operating, and developing high-quality rental communities. Comparable along business model (own/operate residential apartments) and resident-segment focus on working professionals and families.
• Camden Property Trust: Apartment REIT operating a portfolio of multifamily communities with a strong focus on resident experience and customer service. Comparable business model (own/operate apartments) and resident-segment orientation toward professionals and families.
• Equity Residential: Large publicly-traded apartment REIT owning and operating tens of thousands of urban and suburban rental apartments. Comparable as an institutional owner/operator of residential rental housing, though at vastly greater scale and geography.
• Greystar Real Estate Partners: Largest apartment owner/operator and third-party property manager in the U.S., managing hundreds of thousands of multifamily units. Comparable because it operates and manages residential apartment communities at scale across multiple markets, the same core business model Park Place performs locally.
• Bell Partners: Established multi-family owner/operator and third-party manager with a portfolio of tens of thousands of units across the U.S. Comparable as a vertically integrated residential apartment operator with a similar focus on operational quality and resident experience.
• American Campus Communities: Largest owner, manager, and developer of student housing communities in the U.S., serving university-affiliated residents including graduate and professional students. Comparable in the niche focus on university-affiliated residents, particularly graduate and medical students, which is central to Park Place's Marshall University relationships.
• Oakwood Worldwide: Specialist in corporate housing and serviced apartments for relocating employees and traveling professionals. Comparable along the furnished temporary-housing product Park Place offers, with much larger national reach.
• Mid-America Apartment Communities (MAA): Large apartment REIT owning and operating garden-style residential rental communities across the Southeast and Sunbelt. Comparable as a multi-family residential owner/operator serving working professionals and families in mid-sized metros, similar to Park Place's Huntington, WV positioning.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/parkplacepropertieswv
• Instagraminstagram.com/parkplace.wv/?hl=en
• Xx.com/parkplacewv
• LinkedInlinkedin.com/company/j.c.-spence-company

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Park Place Properties