SRM Development
SRM Development is a vertically integrated real estate firm developing and constructing multifamily, senior housing, affordable, and mixed-use projects across the western US, serving accredited investors, institutional capital partners, and public agencies.
- Company typePrivate
- Founded1999
- HeadquartersSpokane, United States
- Headcount51–100
- GTM typeB2B
- OfferingServices
What SRM Development does
SRM Development, LLC is a privately held, vertically integrated real estate development and construction firm founded in 1999 and headquartered in Spokane, Washington, with a regional office in Kirkland, WA. The company operates across the western United States — Puget Sound, Tri-Cities, San Francisco Bay Area, and Southern California — and has delivered more than 6 million square feet of product, totaling over 5,000 residential units and 750,000 square feet of commercial space through its development arm and its SRM Construction subsidiary. Its core offering combines development, construction, and interiors services under a single platform, concentrated in multifamily housing, senior living (assisted living, memory care, independent living), affordable housing, and mixed-use projects.
SRM's revenue model blends development fees, construction services, and co-investment/asset management. It serves four primary counterparty types: institutional enterprise clients (notably Google for the multi-phase Kirkland campus, with Microsoft and Amazon as affordable-housing fund partners), capital partners (USAA Real Estate, Columbia Pacific Advisors, Haseko North America, Merrill Gardens, the Young family), nonprofit and government partners for affordable and community projects (Urban League of Metropolitan Seattle, City of Renton), and a long-tail of accredited investors accessed through a direct sales motion targeting cash-on-cash returns and total return on cost/equity. Recent activity includes a partnership with Haseko North America on the 230-unit The Perle in Bellevue, multiple senior living projects under the Westmont brand and Merrill Gardens partnership in California, and affordable housing deliveries including Altaire at Queen Anne and Nuovo. The company is privately held with no disclosed institutional ownership, was ranked #3 on the Puget Sound Business Journal's Washington 100 Fastest-Growing Private Companies list in 2024, and is led by Managing Principal Ryan Leong with Scott Schneider serving as VP of Investor Relations.
SRM Development firmographics
Firmographics- Name
- SRM Development
- Legal name
- SRM Development, LLC
- Website
- https://srmdevelopment.com
- Company type
- Private
- Founded year
- 1999
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- SRM Development is a vertically integrated real estate firm developing and constructing multifamily, senior housing, affordable, and mixed-use projects across the western US, serving accredited investors, institutional capital partners, and public agencies.
- Ownership category
- akta.pro rank
SRM Development industry classification
Industry- Product category
- Real Estate Development Services
- NAICS
- New Multifamily Housing Construction (except For-Sale Builders) (236116), Commercial and Institutional Building Construction (23622)
- SIC
- Operative Builders (1531), General Bldg Contractors - Residential Bldgs (1520)
- akta.pro primary industry
- Residential Land Development & Subdivision Homebuilding (Build-to-Sell Communities) (IMAFABAL)
- akta.pro secondary industry
- Independent Living Community Development & Construction (Senior Housing Developers) (HLADAAAH)
Keywords
Where SRM Development is headquartered
LocationHeadquarters
- HQ city
- Spokane
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
SRM Development business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Supply Chain, Operations, Infrastructure, Marketing or Sales, Others
Revenue model
- Real Estate Development and Construction Services: SRM operates as a vertically integrated development and construction firm. They develop, construct, and manage multifamily, senior housing, affordable housing, and mixed-use projects. Revenue is generated through development fees, construction services, and potentially long-term asset management or property ownership.
Go-to-market motion1 record
Distribution channels3 records
Marketing channels5 records
SRM Development product offering
Product offeringCore offering
SRM Development is a vertically integrated real estate and construction management firm that develops, constructs, and delivers multifamily, senior housing, affordable housing, and mixed-use projects across high-barrier urban markets in the western United States. The company combines development, construction (SRM Construction), and interiors capabilities under a single platform, serving accredited investors, institutional capital partners, and public-sector collaborators through direct development partnerships, joint ventures, and public-private partnerships.
Product overview
SRM Development is a vertically integrated real estate and construction management firm that operates as a single unified platform combining development, construction, and interiors services. The company specializes in multifamily residential, senior housing (including assisted living and memory care), affordable housing, office, hospitality, retail, and mixed-use projects across the western United States. Their portfolio includes both their core construction arm (SRM Construction) and a diverse range of named development projects spanning from large-scale affordable housing communities (Altaire, Nuovo, The Mill at First Hill) to luxury apartments (The Perle, The Meyden) to senior living facilities (Merrill Gardens, Westmont brands, Bellara, Novelle). The company also offers investment services to accredited investors seeking institutional-quality real estate opportunities.
Differentiator
Problem solved
Functional benefit
Products and services
- SRM Development Services Vertically integrated real estate development services covering multifamily, senior housing, affordable, and mixed-use projects across the western United States. Services include site selection, underwriting, development management, and partnership structuring for accredited and institutional investors.
- SRM Construction Services Construction services delivered by SRM Construction, having built over 6 million square feet, more than 5,000 units, and 750,000 square feet of commercial space. Active across Puget Sound, Tri-Cities, San Francisco Bay Area, and Southern California markets.
- Real Estate Investment Services Direct real estate investment opportunities for accredited investors in institutional-quality projects, underwritten with cash-on-cash returns and total return on cost/equity metrics, with potential for long-term capital appreciation.
- Interiors Services Interior build-out and finishing services delivered as part of SRM's vertically integrated development and construction platform, including office interiors and multifamily unit interiors.
Companies that use SRM Development
Customer profileNamed customers4 records
Segments5 records
Ideal customer profiles4 records
SRM Development technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration6 records
SRM Development partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered minor and core.
- City of RentonminorSRM supported the City of Renton in its long-term vision to connect people with nature and strengthen community spaces along the Cedar River. The City acquired 12.5 acres and approximately 1,500 feet of riverfront for Cedar River Park expansion, informed by community input and years of planning through the Tri-Park Master Plan.
- Haseko North AmericacoreSRM partnered with Haseko North America (US subsidiary of Japan's largest condominium construction firm) for The Perle, a 230-unit luxury apartment community in downtown Bellevue. This is a new partnership that both parties hope will be the first of several projects together to address the growing housing shortage in core markets across the western US.
- Urban League of Metropolitan SeattlecoreSRM partnered with the Urban League of Metropolitan Seattle on affordable housing developments including Altaire at Queen Anne (114-unit affordable housing) and Altaire at Jackson Park (207 homes). These are public-private partnerships involving the Seattle Office of Housing, Amazon's Housing Fund, Washington State Housing Finance Commission, Citibank, and PNC Bank.
- Young FamilycoreSRM partnered with the Young family for The Bob, a 192-unit garden-style apartment community in Richland (Tri-Cities), WA.
- Merrill GardenscoreSRM has partnered with Merrill Gardens on multiple senior living projects including Merrill Gardens at Rockridge (Oakland), Merrill Gardens at Ballard (Seattle), Merrill Gardens at Monterey, Merrill Gardens at Huntington Beach, Merrill Gardens at West Covina, and Merrill Gardens at Lafayette.
Scale indicators4 records
Recent moves9 records
Expansion highlights6 records
SRM Development competitors and assessment
Company assessmentDirect peers
- Holland Partner Group: PNW-based vertically integrated multifamily developer, owner, and property manager with a deep Puget Sound presence. Highly comparable to SRM given similar West Coast urban focus, multifamily and mixed-use projects, and integrated development-and-construction capabilities.
- Vulcan Real Estate: Seattle-based real estate developer building large-scale multifamily, office, and mixed-use projects throughout the Puget Sound. Comparable to SRM on geography, urban high-density product mix, and long-term hold/sell strategy with institutional capital partners.
- The Wolff Company: Multifamily developer and builder focused on urban infill and mixed-use communities, including affordable and market-rate housing. Comparable to SRM's vertical integration model and emphasis on class-A multifamily in supply-constrained Western markets.
- Mill Creek Residential Trust: Vertically integrated multifamily developer and general contractor operating across the U.S., with significant West Coast presence. Closely comparable to SRM given integrated development+construction platform, multifamily focus, and partnerships with institutional capital sources.
- LMC, A Lennar Company: National multifamily developer with urban and suburban infill projects, including mixed-use and affordable housing. Comparable to SRM on multifamily development scale, mixed-use expertise, and entry into affordable housing partnerships.
- JPI: National multifamily developer, builder, and owner with deep West Coast operations. Comparable to SRM on integrated design-build-operate model, multifamily focus in high-barrier markets, and long history of large-scale urban developments.
- Trammell Crow Residential: National multifamily developer (a subsidiary of Crow Holdings) with significant operations in California and the Pacific Northwest. Comparable to SRM given the same urban infill, multifamily and mixed-use product, and institutional capital partnerships.
- Pacifica Senior Living: Senior living developer and operator with communities across the Western U.S. Comparable to SRM's senior housing segment (Merrill Gardens, Westmont, Bellara, Novelle) given overlapping geographies, assisted living/memory care product, and developer-operator relationships.
Broad incumbents
- Greystar Real Estate Partners: Largest U.S. multifamily developer, operator, and investment manager. Comparable to SRM on multifamily and senior housing exposure, though Greystar is a global incumbent with significantly broader service lines, capital base, and geographies.
Emerging players
- Kisco Senior Living: Senior living owner, operator, and developer with communities along the West Coast. Comparable to SRM's senior housing development pipeline in similar California and PNW markets, with a shared operator-developer partnership model.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks5 records
Key highlights7 records
Customer concentration
SRM Development social profiles
Digital presenceSRM Development financial estimates
Financial estimateRevenue estimate
Valuation estimate
SRM Development leadership team
Management profileNumber of profiles
Profiles3 records
SRM Development funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
SRM Development M&A and investment
M&A and investmentM&A
Investments2 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about SRM Development
What does SRM Development do?
SRM Development is a vertically integrated real estate and construction management firm that develops, constructs, and delivers multifamily, senior housing, affordable housing, and mixed-use projects across high-barrier urban markets in the western United States. The company combines development, construction (SRM Construction), and interiors capabilities under a single platform, serving accredited investors, institutional capital partners, and public-sector collaborators through direct development partnerships, joint ventures, and public-private partnerships.
Is SRM Development a public or private company?
SRM Development is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was SRM Development founded?
SRM Development was founded in 1999. It employs 51 to 100 people.
Where is SRM Development based?
SRM Development is headquartered in Spokane, United States, in the North America region.
How does SRM Development make money?
One revenue line is on record: real Estate Development and Construction Services.
Who are SRM Development's main competitors?
Direct peers on record are Holland Partner Group, Vulcan Real Estate, The Wolff Company, Mill Creek Residential Trust, LMC, A Lennar Company, JPI, Trammell Crow Residential and Pacifica Senior Living. Greystar Real Estate Partners is listed as a broad incumbent. Kisco Senior Living is listed as an emerging player.
Does SRM Development have an API?
No public API is recorded for SRM Development.
What industry is SRM Development in?
SRM Development's product category is Real Estate Development Services. Its primary akta.pro industry code is IMAFABAL, Residential Land Development & Subdivision Homebuilding (Build-to-Sell Communities), with a secondary code of HLADAAAH, Independent Living Community Development & Construction (Senior Housing Developers). Its NAICS code is 236116 and its SIC code is 1531.