The NRP Group

What The NRP Group does

The NRP Group, founded in 1994 and headquartered in Cleveland, Ohio, is a vertically integrated multifamily real estate company operating four interconnected service lines: development, construction (via NRP Construction), property management (via NRP Management), and asset management. The company has developed more than 69,000 apartment homes across 330+ communities and 17 U.S. markets, with a portfolio spanning affordable housing (31,000 units, primarily LIHTC 4%/9% financed), market-rate (28,000 units), and mixed-income (9,600 units) segments. Cumulative project value exceeds $13 billion, of which approximately $5 billion is affordable housing. NRP currently manages 153 properties and 33,000+ apartment homes across 13 states representing $2.5 billion in portfolio value, and has completed $4 billion in market-rate dispositions since 2014 and $1.5 billion over the past two years with an average +43% value creation on dispositions.

The company's underlying technology platform, NRP Connect, is an internally developed dashboard and portal that integrates workflows across construction and property management, supporting digital marketing, programmatic media, VR and self-directed tours, and an online subcontractor bidding portal. NRP monetizes through development fees, equity participation in projects, general contracting fees (including third-party construction for outside developers), recurring property and asset management fees, and disposition proceeds. Its go-to-market is enterprise field sales targeting housing authorities, healthcare systems, school districts, nonprofits, and private developers for joint-venture and partnership-style deal structures rather than transactional sales. The customer base is institutional, and NRP reports a 97% repeat rate among equity and debt partners and 93%+ of development projects meeting or exceeding investment targets.

NRP is led by J. David Heller (President, CEO, and Co-Founder) and includes functional Presidents for Development, Construction, and Property Management, plus a CIO, CFO, CSO, and CAO. TriPost Capital Partners holds a board relationship. The company has been recognized as the #1 U.S. multifamily developer creating both affordable and market-rate communities at scale, the #2 NMHC Top Multifamily Builder and #8 NMHC Top Multifamily Developer in 2026, and has won multiple NAHB, Multi-Housing News, and safety awards between 2020 and 2025.

Name

The NRP Group

Legal name

The NRP Group LLC

Website

https://nrpgroup.com

Company type

Private

Founded year

1994

Operating status

Operating

Headcount range

501–1,000 employees

Short description

The NRP Group is a Cleveland-based, vertically integrated multifamily real estate developer, general contractor, and property manager. Founded in 1994, it has developed 69,000+ affordable, market-rate, and mixed-income apartment homes across 17 U.S. markets and manages 33,000+ units.

Ownership category

akta.pro rank

Headquarters

HQ city

Cleveland

HQ country

United States

HQ region

North America

Offices17 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Real Estate Development: Development fees and equity participation from affordable (LIHTC) and market rate multifamily developments. Revenue generated through ground-up development from site selection through project financing and completion.
2. Construction Services: General contracting fees for multifamily construction including market rate, LIHTC, HUD 221D4, and moderate/mixed income developments. Also provides third-party construction services to external developers and owners.
3. Property Management: Property management fees from managing over 153 properties and 33,000+ apartment homes across 13 states. Services provided to both NRP-owned and third-party communities.
4. Asset Management: Asset management fees and disposition proceeds. Manages 153 communities representing over 33,000 apartment homes at a value of $2.5 billion. Has led disposition of $1.5 billion in NRP communities over the past two years.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels4 records

Core offering

The NRP Group is a vertically integrated multifamily real estate company that develops, builds, manages, and owns affordable, market rate, and mixed-income apartment communities across the United States. Its four service lines - Development, Construction, Property Management, and Asset Management - are delivered end-to-end under one roof, complemented by third-party general contracting services and property management for outside owners and a proprietary subcontractor bidding platform.

Product overview

The NRP Group operates as a vertically integrated multifamily real estate company offering four interconnected service lines: Development, Construction, Property Management, and Asset Management. Their primary offering is the development and construction of multifamily communities across the affordable, market rate, and mixed-income spectrum. They also offer third-party construction services to outside developers and maintain a proprietary subcontractor bidding platform for project procurement. The company has developed over 69,000 apartment homes across 330+ communities.

Differentiator

Problem solved

Functional benefit

Brands

• NRP Construction: Award-winning construction division providing general contracting services for multifamily developments
• NRP Management
• NRP Cares

Products and services

• NRP Development End-to-end multifamily real estate development services including site selection, market studies, land acquisition, product design, and project financing for affordable (LIHTC 4% and 9%), market rate, and mixed-income communities. Targets housing authorities, nonprofits, governments, hospitals, school districts, and private developers.
• NRP Construction Award-winning general construction services for multifamily developments, providing pre-construction, design and entitlement, and full-scale construction management for market rate, LIHTC, HUD 221D4, and mixed-income projects. Includes 70,000+ units delivered across 17 markets and the #2 Multifamily Builder ranking from NMHC.
• NRP Property Management Comprehensive property management services for affordable and market rate communities, including lease-up management, resident services, and community operations. Currently manages 153 properties and 33,000+ apartment homes across 13 states with a 500+ professional team. Leverages digital marketing, programmatic media, virtual reality, and self-directed tour technology for industry-leading lease-up performance (160+ lease-ups completed since 2014, averaging 20%+ pre-leased for new construction).
• NRP Asset Management Real estate asset management services for NRP-owned and third-party portfolios, including cash management, refinancing, recapitalization, resyndication, asset dispositions, and risk management for portfolio optimization. Manages 153 communities valued at $2.5 billion and has led $1.5 billion in community dispositions over the past two years with +43% average value created.
• Third-Party Construction Services General contracting services provided to outside developers and owners beyond NRP's own projects, leveraging design-build expertise, collaborative value engineering, and the NRP construction technology platform. Sourced through a dedicated third-party construction business development team.
• Subcontractor Bidding Platform Online project bidding platform listing upcoming NRP Construction projects with preliminary details, timing, and key contacts. Enables subcontractors and vendors to access project pipelines and submit bids for construction opportunities on a self-serve basis.

Quantifiable outcome

• 97% repeat rate for equity and debt partners
• +3 more outcomes

Named customers5 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

13 partnerships are on record, tiered core and minor.

• Marshall Heights Community Development OrganizationcoreStrategic or Co-development Partner · 14 April 2026Partnership for The Waymark, a 109-unit affordable housing development in Washington D.C.'s Ward 7, including 22 units of permanent supportive housing for individuals experiencing homelessness.
• Denton Housing AuthoritycoreStrategic or Co-development Partner · 24 March 2026Partnership for Arbor Ranch, a 297-unit affordable housing community in Denton, Texas serving families earning 30%-70% of Area Median Income, with $149 million financing package.
• Austin Independent School DistrictcoreStrategic or Co-development Partner · 4 March 2026Land lease partnership for Anita Ferrales Coy school-to-housing redevelopment - 675-unit mixed-income community on former school site in East Austin to address housing affordability for teachers and staff.
• Texoma Housing PartnerscoreStrategic or Co-development Partner · 23 February 2026Partnership for Sutton Flats, a 300-unit mixed-income community in Sherman, Texas with leasing underway. NRP has developed over 7,000 units across 30+ properties in DFW region.
• JPS Health NetworkcoreStrategic or Co-development Partner · 23 January 2026Health and Housing development partnership for Thrive on Crawford - NRP's first Health and Housing project in Texas. 67-unit mixed-income housing in Fort Worth with 2,200 sq ft commercial space leased to JPS.
• PointOne HoldingscoreStrategic or Co-development Partner · 20 November 2025Partnership for Adria and Maren - two residential communities in Venice, Florida totaling 665 units, designed for upscale and multi-generational living.
• City of PhoenixcoreStrategic or Co-development Partner · 20 November 2025Partnership for Desert Sky - 288-unit affordable housing community in West Phoenix with half of units reserved for families earning up to 80% of AMI.
• City of ColumbuscoreStrategic or Co-development Partner · 7 November 2025Partnership for The Lofton - 245-unit affordable housing community in Columbus, Ohio serving households earning 30%-80% of AMI.
• Community Development for All PeoplecoreStrategic or Co-development Partner · 7 November 2025Nonprofit partner for The Lofton affordable housing development in Columbus, Ohio with family-oriented homes and commercial space.
• HasekocoreStrategic or Co-development Partner · 1 September 2025Strategic partnership for 390-unit luxury housing community near Durango Casino & Resort in Las Vegas.
• Cleveland State UniversityminorOthersHistoric gift to CSU for real estate and property management education; BBA concentration, Property Management Minor, and Real Estate Certificate programs launched Fall 2022.
• University of Michigan Ross School of BusinessminorOthersActive sponsor of Living Business Leadership Experience (LBLE) course where 2024 student group collaborated with NRP on sustainable energy research for affordable developments.
• YouthBuildminorOthersApprenticeship program partnership to build skill sets for opportunity youth through construction trade training.

Scale indicators18 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Greystar Real Estate Partners: Largest multifamily property management and real estate company in the U.S., also a developer, builder, and investment manager with a vertically integrated model closely mirroring NRP's structure across property management, development, and construction services.
• Mill Creek Residential: Privately held multifamily developer, builder, and property manager focused on Class A rental communities across the U.S. with a vertically integrated platform; direct competitor in market-rate and, increasingly, mixed-income development.
• Alliance Residential Company: Large national multifamily developer, builder, and property manager with vertically integrated development capabilities; directly comparable in product type, geographic footprint, and third-party management services.
• The Hanover Company: Privately held multifamily developer focused on luxury and market-rate apartment communities in select U.S. markets; comparable in scale and product positioning to NRP's market-rate development business.
• Wood Partners: National multifamily developer with deep expertise in ground-up Class A apartment development across high-growth U.S. markets; direct competitor with similar geographic focus and project-level economics.
• Lincoln Property Company: Major U.S. residential and commercial real estate firm with one of the largest third-party property management portfolios; directly comparable to NRP Management and NRP Development in scale and service breadth.
• Hunt Companies: Privately held national real estate developer and asset manager with a substantial affordable and military housing portfolio; directly comparable to NRP on LIHTC development, public-private partnerships, and asset management scale.
• Trammell Crow Residential: One of the largest developers of multifamily housing in the U.S. (subsidiary of CBRE Group); directly comparable to NRP in scale, product type, and capital partner relationships for market-rate and mixed-income rental communities.

Broad incumbents

• AvalonBay Communities: Large publicly traded multifamily REIT that develops, acquires, and operates Class A apartment communities; relevant comparable for NRP's market-rate development pipeline and asset management portfolio economics, though operating model differs (own-and-hold vs. develop-and-sell).
• The Related Companies: Large, diversified national real estate developer with significant affordable and mixed-income housing presence (Related Affordable); broader portfolio but directly comparable on the LIHTC/affordable housing development side.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/nrpgroup
• Facebookfacebook.com/thenrpgroup
• LinkedInlinkedin.com/company/the-nrp-group-llc

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Subsidiaries2 records

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 The NRP Group