Albion Residential

What Albion Residential does

Albion Residential is a privately held real estate firm focused on the acquisition, development, and operation of luxury multi-family rental apartments in Midwestern urban markets and Nashville. Founded in 2016 and headquartered in Oak Brook, Illinois, the company executes three distinct strategies: ground-up new construction (often transit-oriented), adaptive reuse of historic early-1900s buildings leveraging Federal Historic Tax Credits, and value-add acquisitions of underperforming assets repositioned through $23,000–$134,000 per-unit renovations. The owned and operated portfolio has expanded from 731 units in 2016 to 5,260 units across eight markets (Chicago, Cincinnati, Cleveland, Columbus, Minneapolis, Nashville, Pittsburgh, St. Louis), encompassing 16+ completed projects ranging from high-rise towers to garden-style properties.

Albion operates as a wholly owned subsidiary of Compatriot Capital, the real estate investment arm of Sammons Enterprises, Inc., a privately held holding company with assets exceeding $100 billion. This parent relationship provides access to long-duration capital and underpins the company's ability to execute large ground-up developments such as Albion in the Gulch ($140 million, 415 units, completed Q2 2023) and Albion Music Row Phase 1 ($102 million Pacific Life construction loan, 458-unit tower with pre-leasing commencing April 2026). Revenue is generated primarily through recurring monthly apartment rental income, supplemented by development fees on co-investment projects with partners including Koplar Properties, Theis Group, and Greystar (which leads leasing and management for the two flagship Nashville assets). The company capitalizes value-add deals with project-specific construction debt from institutions such as Pacific Life Insurance and Old National Bank.

The company serves two distinct customer types: end consumers (urban luxury renters seeking design-oriented, boutique-hotel-inspired living near employment hubs) and capital partners (institutional investors, construction lenders, and permanent mortgage lenders seeking differentiated Midwest multifamily exposure). Underlying technology is centered on real estate domain expertise rather than software: specialized capability in Federal Historic Tax Credit processes, complex adaptive reuse permitting, transit-oriented site selection, and high-rise construction execution. The leadership team — President Jason Koehn (Kellogg MBA, ex-GE Capital), EVP Development & Construction Andrew Yule ($1B+ in completed projects), and VP Acquisitions Craig McGowan (ex-Heitman, $500M+ closed) — has driven the company's scaling from a sub-1,000-unit operator to a 5,000+ unit regional platform within a single decade.

Name

Albion Residential

Legal name

Albion Residential

Website

https://albionresidential.com

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

11–50 employees

Short description

Albion Residential is a privately held real estate firm that acquires, develops, and operates luxury multi-family rental apartments across eight Midwestern and Nashville markets. The company owns a 5,260-unit portfolio and operates as a subsidiary of Compatriot Capital, the real estate arm of Sammons Enterprises.

Ownership category

akta.pro rank

Product category

Luxury Multi-Family Residential Real Estate Development

NAICS

New Multifamily Housing Construction (except For-Sale Builders) (236116), Rental and Leasing Services (532)

SIC

Operators Of Apartment Buildings (6513)

akta.pro primary industry

Multi-Family Residential Construction (Apartments, Condos, Townhomes) (IMAFABAB)

akta.pro secondary industry

Multifamily Apartment Property Management (BPAJAFAA)

Keywords

• Luxury multi-family apartments
• Residential real estate development
• Adaptive reuse construction
• Value-add acquisitions
• Multi-family property management

Headquarters

HQ city

Oak Brook

HQ country

United States

HQ region

North America

Offices9 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Apartment Rental Revenue: Albion generates primary revenue through monthly apartment rentals across its portfolio of luxury multi-family properties in Midwestern markets. The company acquires, develops, and operates residential communities generating recurring rental income.
2. Development and Construction Services: Albion develops new luxury apartment communities from ground-up, including mixed-use high-rises with ground-level retail and commercial space, generating development fees and creating long-term revenue-producing assets.
3. Value-Add Acquisition and Renovation: Albion acquires underperforming properties, invests in capital improvements (unit upgrades, common area renovations, repositioning), and manages enhanced operations to increase NOI and property value, capturing upside through improved cash flows and eventual appreciation.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

Albion Residential is focused on the acquisition, development, and operation of luxury rental apartment communities in Midwestern urban markets. It executes three development strategies — ground-up construction, adaptive reuse of historic early 1900s buildings (using Federal Historic Tax Credits), and value-add acquisitions — to grow a portfolio of branded, design-driven multi-family assets. The portfolio spans 16+ completed projects and over 5,260 units across eight U.S. markets.

Product overview

Albion Residential is a real estate investment and development firm specializing in luxury multi-family apartments across Midwestern urban markets and select Southern markets. The company operates through three core service lines: acquisition (buying existing properties with repositioning potential), development (ground-up construction and adaptive reuse of historic buildings), and operations (managing owned assets). The portfolio spans 16+ completed projects totaling over 5,260 units, including branded developments like Albion in the Gulch and Albion Music Row in Nashville, transit-oriented developments like Albion Oak Park and Albion Evanston in the Chicago suburbs, and value-add acquisitions like Highland House Tower and The Heights Apartments. Projects range from high-rise towers to garden-style properties, with typical unit counts between 150-800+ and per-unit renovation investments of $23,000-$134,000 for acquisitions.

Differentiator

Problem solved

Functional benefit

Products and services

• Albion in the Gulch A 20-story, 415-unit luxury apartment tower at 645 Division Street in Nashville's Gulch neighborhood, with over 15,000 square feet of outdoor space and boutique-hotel-inspired amenities, targeted at urban luxury renters.
• Albion Music Row A two-phase luxury apartment development in Nashville's historic Music Row neighborhood planned for upwards of 800 units, with Phase 1 delivering a 29-story tower with 458 apartments, an urban park for public performances, and a recording studio.
• Albion Oak Park A 265-unit transit-oriented luxury apartment development at 1000 Lake Street in Oak Park, IL, with 8,400 square feet of ground-level retail and proximity to CTA El and Metra stations for a 12-minute commute to downtown Chicago.
• Albion Evanston A 268-unit luxury apartment development with 7,250 square feet of ground-level retail in downtown Evanston, IL, near CTA El stops and Metra offering a 15-minute commute to downtown Chicago.
• Albion Highland Park (Phase I) A 161-unit luxury residential community in downtown Highland Park, IL (Chicago's North Shore), within walking distance of the downtown district and Metra station.
• Albion Highland Park Phase II An additional 89 luxury residential units added to the Highland Park community, operating jointly with Phase I as a unified community with shared amenity access.
• Soo Line Building City Apartments A 19-story historic office building in Minneapolis converted into 254 luxury residential units and 18,000 square feet of restaurant/retail/office space, connected to the Minneapolis Skyway System.
• Albion Lawrenceville A 267-unit luxury apartment development in Pittsburgh's Upper Lawrenceville neighborhood on Butler Street, featuring complete renovation of a historic 1800s firehouse repurposed as common area.
• Albion West End A 305-unit luxury residential high-rise with 1,700 square feet of ground-level retail in St. Louis' Central West End adjacent to Forest Park, developed as a joint venture with Koplar Properties.
• Magnolia Ridge A five-story, 182-unit luxury apartment community in Des Peres, MO (15 miles west of St. Louis) at 13431 Manchester Road, featuring fitness center, sauna, pool, golf simulator, and speakeasy.
• Albion at Murfreesboro A 360-unit former student housing property near Middle Tennessee State University in Murfreesboro, TN, converted to a market-rate community with $42,000 per unit renovation and 108 additional units added.
• Albion at Morrow Park A 213-unit luxury apartment community in Pittsburgh's East End Market neighborhood, walking distance to UPMC medical institutions and the Walnut Street shopping district.
• Albion on Northwest A 719-unit garden-style apartment property in Palatine, IL (Northwest Chicago suburb), acquired Q4 2021 and renovated with $43,000 per unit investments, completed late 2023.
• Albion on Lake Cook A 612-unit residential development in Palatine, IL, acquired July 2022 and undergoing $60,000 per unit renovations with expected completion in mid-2025.
• Highland House Tower by Albion A 163-unit, 22-story luxury high-rise in Pittsburgh's Highland Park neighborhood, modernized with $134,000 per unit renovations and repositioned to Class A competitive status.
• The Heights Apartments by Albion A 394-unit apartment property in Cincinnati's Uptown neighborhood near the University of Cincinnati, revitalized with $52,000 per unit renovated interiors and completed Q1 2022.

Quantifiable outcome

• Portfolio grew from 731 units in 2016 to 5,260 units today, a 620% increase over five years
• +4 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Six partnerships are on record, tiered core and minor.

• GreystarcoreChannel Partner/ Reseller/ DistributorAlbion contracted with Greystar to lead leasing and management for both Albion Music Row and Albion in the Gulch. Greystar is a national multi-family housing operator providing professional property management and leasing services for these flagship Nashville properties. Greystar brings established property management infrastructure and leasing expertise to maximize occupancy and operational efficiency.
• Koplar PropertiescoreStrategic or Co-development PartnerAlbion is in a joint development partnership with Koplar Properties for Albion West End, a 30-story tower project in St. Louis' Central West End neighborhood. The Koplar-Albion development team was officially designated by the City's LCRA in January 2025. The project has received a 10-year, 75% tax abatement approved by the Board of Aldermen in early 2023.
• Theis GroupminorStrategic or Co-development PartnerAlbion Properties, along with Koplar Properties and Theis Group, is developing Magnolia Ridge in Des Peres, 15 miles west of St. Louis. Theis Group participates as a project partner in this multi-party development.
• Clark ConstructioncoreOthersClark Construction led the vertical construction of Albion Music Row's 29-story tower, beginning in December 2024. Clark is the general contractor responsible for construction execution of this flagship Nashville development.
• Brinkmann ConstructorsminorOthersBrinkmann Constructors serves as the general contractor for Magnolia Ridge in Des Peres, Missouri, the five-story, 182-unit property being developed by Albion and its partners.
• Clayco ConstructionminorOthersClayco Construction will serve as the contractor for Albion West End in St. Louis. The project is targeting a summer construction start, with the design by Lamar Johnson Collaborative.

Scale indicators8 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Bozzuto Group: Privately held multifamily developer, owner, and manager focused on luxury and Class A apartment communities across the Eastern US. Closely comparable as a private luxury multifamily operator executing a similar three-pillar model of development, acquisition, and management.
• Greystar Real Estate Partners: Largest US multifamily property management, development, and investment company, operating over 800,000 units globally. Directly comparable as both an institutional multifamily manager and developer/investor—and Albion's chosen operating partner for flagship Nashville assets.
• Lincoln Property Company: Diversified real estate firm with major multifamily development, investment, and third-party management operations across the US. Comparable as a large private multifamily operator executing ground-up development, value-add acquisitions, and institutional property management similar to Albion.

Broad incumbents

• Equity Residential: Public S&P 500 multifamily REIT owning approximately 80,000 apartment units concentrated in high-density urban and coastal gateway markets. Comparable as a large institutional luxury multifamily owner/operator, though focused on coastal markets versus Albion's Midwest footprint.
• AvalonBay Communities: Public multifamily REIT with approximately 90,000 apartment units across coastal and select Sunbelt markets. Operates as developer, acquirer, and operator of Class A apartment communities, overlapping with Albion's luxury multifamily strategy though at significantly larger scale.
• Camden Property Trust: Public multifamily REIT with approximately 58,000 apartment units concentrated in the Sunbelt. Comparable as an institutional multifamily owner-operator pursuing development and acquisitions, though with a different geographic footprint.
• Mid-America Apartment Communities: Largest US multifamily REIT by unit count with approximately 102,000 apartment units across the Sunbelt. Comparable as a large multifamily owner-operator with development capabilities, though focused on Sunbelt markets versus Albion's Midwest urban focus.
• The Related Companies: Large privately held real estate development firm with major multifamily operations across luxury, affordable, and mixed-use product. Comparable as a large-scale developer of luxury multifamily with mixed-use expertise and a similar institutional capital base.
• Toll Brothers Apartment Living: Multifamily development arm of Toll Brothers (luxury homebuilder), developing Class A apartment communities nationwide. Comparable as a luxury-focused multifamily developer with national ambitions and brand-premium positioning similar to Albion.

Emerging players

• Crescent Communities: Private real estate developer operating multifamily, land, and commercial businesses with Class A luxury product. Comparable as a private multifamily developer pursuing premium urban product with overlapping Southeast and Midwest exposure.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/albion-residential

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds1 record

Investors1 record

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 Albion Residential