The NRP Group
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.
- Company typePrivate
- Founded1994
- HeadquartersCleveland, United States
- Headcount501–1,000
- GTM typeB2B
- OfferingServices
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.
The NRP Group firmographics
Firmographics- 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
Where The NRP Group is headquartered
LocationHeadquarters
- HQ city
- Cleveland
- HQ country
- United States
- HQ region
- North America
Offices17 records
Markets served
The NRP Group business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Supply Chain, Infrastructure, Technology or R&D, Marketing or Sales
Revenue model
- 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.
- 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.
- 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.
- 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
The NRP Group product offering
Product offeringCore 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
Companies that use The NRP Group
Customer profileNamed customers5 records
Segments5 records
Ideal customer profiles5 records
The NRP Group technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
The NRP Group partnerships and signals
Strategic signalPartnerships
13 partnerships are on record, tiered core and minor.
- Marshall Heights Community Development OrganizationcorePartnership 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 AuthoritycorePartnership 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 DistrictcoreLand 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 PartnerscorePartnership 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 NetworkcoreHealth 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 HoldingscorePartnership for Adria and Maren - two residential communities in Venice, Florida totaling 665 units, designed for upscale and multi-generational living.
- City of PhoenixcorePartnership 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 ColumbuscorePartnership for The Lofton - 245-unit affordable housing community in Columbus, Ohio serving households earning 30%-80% of AMI.
- Community Development for All PeoplecoreNonprofit partner for The Lofton affordable housing development in Columbus, Ohio with family-oriented homes and commercial space.
- HasekocoreStrategic partnership for 390-unit luxury housing community near Durango Casino & Resort in Las Vegas.
- Cleveland State UniversityminorHistoric 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 BusinessminorActive sponsor of Living Business Leadership Experience (LBLE) course where 2024 student group collaborated with NRP on sustainable energy research for affordable developments.
- YouthBuildminorApprenticeship program partnership to build skill sets for opportunity youth through construction trade training.
Scale indicators18 records
Recent moves6 records
Expansion highlights6 records
The NRP Group competitors and assessment
Company assessmentDirect 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
The NRP Group social profiles
Digital presenceThe NRP Group financial estimates
Financial estimateRevenue estimate
Valuation estimate
The NRP Group leadership team
Management profileNumber of profiles
Profiles13 records
The NRP Group subsidiaries and ownership
Company hierarchySubsidiaries2 records
The NRP Group funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
The NRP Group M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about The NRP Group
What does The NRP Group do?
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.
Is The NRP Group a public or private company?
The NRP Group is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was The NRP Group founded?
The NRP Group was founded in 1994. It employs 501 to 1,000 people.
Where is The NRP Group based?
The NRP Group is headquartered in Cleveland, United States, in the North America region.
How does The NRP Group make money?
Four revenue lines are on record. Real Estate Development is the primary driver. The others are construction Services, property Management and asset Management.
Who are The NRP Group's main competitors?
Direct peers on record are Greystar Real Estate Partners, Mill Creek Residential, Alliance Residential Company, The Hanover Company, Wood Partners, Lincoln Property Company, Hunt Companies and Trammell Crow Residential. Broad incumbents are AvalonBay Communities and The Related Companies.
Does The NRP Group have an API?
No public API is recorded for The NRP Group.