Nicol Investment Company

What Nicol Investment Company does

Nicol Investment Company is a privately held, family-owned real estate investment firm headquartered at 1033 Demonbreun Street, Suite 630, Nashville, Tennessee. The firm acquires, develops, and co-invests in quality real estate assets with a stated focus on multifamily, senior housing, self-storage, office, retail, and agriculture properties concentrated in markets across the Southeast United States. Its named portfolio includes approximately fifteen multifamily properties spanning Nashville, the Carolinas, Florida, Georgia, and Tennessee (examples include The Collins, Society Westshore, Havana Square, Nine12 Gateway, The Parker at Maitland Station, Velo Verdae, Madison Pointe, Novo Mauldin, Sterling Nashville West, Vitality at Upland Park, Traditions at Smyrna, HQ, The Kelvin at Upland Park, Enclave at Providence Apartments, and Novo Hickory Highlands). The firm's origin traces back approximately 120 years to 1905 family ranch beginnings in Oregon, spanning five generations of the Nicol family.

The firm operates a direct-acquisition and co-investment business model alongside an internal family office function. It partners with development counterparties rather than raising external institutional capital, generating returns through ownership and operation of physical real estate assets. The firm employs between 11 and 50 people, with leadership drawn from major institutional real estate and financial firms including Greystar, Wells Fargo, KPMG, Ernst & Young, RAM Partners, and RPM Living. Functional leadership includes a President (Ron Johnson, since 1998), COO (Kyle Burkett, from Greystar), CFO (Sam Boroughs, from Wells Fargo), Managing Director of Investments (Grant Nicol), Managing Director of Construction Services (Kris Wolfington), Managing Director of Accounting (Kathryn Roark), and Director of Asset Management (Rebecca Welch, joined May 2025 from RPM Living).

There is no disclosed revenue, no external investors, no public ticker, and no technology platform. Distribution is conducted through direct relationships, the company website (nicolinv.com), and co-investment partnerships. The firm's core differentiators are its multi-generational operating history, a senior leadership team with institutional real estate credentials, and a regionally focused investment thesis emphasizing exceptional locations and quality construction in Southeast markets.

Name

Nicol Investment Company

Legal name

Nicol Investment Company

Website

https://nicolinv.com

Company type

Private

Founded year

1975

Operating status

Operating

Headcount range

11–50 employees

Short description

Nicol Investment Company is a privately held, family-owned Nashville-based real estate investment firm that acquires, develops, and co-invests in multifamily, senior housing, self-storage, office, retail, and agriculture properties concentrated in Southeast US markets, serving as both direct owner and co-investment partner alongside development firms.

Ownership category

akta.pro rank

Headquarters

HQ city

Nashville

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Infrastructure

Distribution channels1 record

Marketing channels1 record

Core offering

Nicol Investment Company is a family-owned real estate investment firm that acquires, develops, and co-invests in quality multifamily, senior housing, self-storage, office, retail, and agriculture properties. The firm concentrates its portfolio in markets across the Southeast United States, selecting assets with exceptional locations, best-in-class features and amenities, and quality construction designed to stand the test of time. The company also operates an internal family office providing personal accounting, insurance, records management, and travel services to the Nicol family.

Product overview

Nicol Investment Company is a family-owned real estate investment firm that acquires, develops, and co-invests in quality multifamily properties. The company operates a portfolio of residential properties focused on markets in the Southeast United States. Their named property portfolio includes The Collins, Society Westshore, Havana Square, Nine12 Gateway, The Parker at Maitland Station, Velo Verdae, Madison Pointe, Novo Mauldin, Sterling Nashville West, Vitality at Upland Park, Traditions at Smyrna, HQ, The Kelvin at Upland Park, Enclave at Providence Apartments, and Novo Hickory Highlands. Each property represents an individual real estate asset with exceptional locations, best-in-class features and amenities, and quality construction.

Differentiator

Problem solved

Functional benefit

Products and services

• The Collins Residential property acquired, developed, or co-invested by Nicol Investment Company as part of its Southeast-focused multifamily portfolio.
• Society Westshore Residential property acquired, developed, or co-invested by Nicol Investment Company as part of its Southeast-focused multifamily portfolio.
• Havana Square Residential property acquired, developed, or co-invested by Nicol Investment Company as part of its Southeast-focused multifamily portfolio.
• Nine12 Gateway Residential property acquired, developed, or co-invested by Nicol Investment Company as part of its Southeast-focused multifamily portfolio.
• The Parker (at Maitland Station) Residential property acquired, developed, or co-invested by Nicol Investment Company as part of its Southeast-focused multifamily portfolio.
• Velo Verdae Residential property acquired, developed, or co-invested by Nicol Investment Company as part of its Southeast-focused multifamily portfolio.
• Madison Pointe Residential property acquired, developed, or co-invested by Nicol Investment Company as part of its Southeast-focused multifamily portfolio.
• Novo Mauldin Residential property acquired, developed, or co-invested by Nicol Investment Company as part of its Southeast-focused multifamily portfolio.
• Sterling Nashville West Residential property acquired, developed, or co-invested by Nicol Investment Company as part of its Southeast-focused multifamily portfolio.
• Vitality at Upland Park Residential property acquired, developed, or co-invested by Nicol Investment Company as part of its Southeast-focused multifamily portfolio.
• Traditions at Smyrna Residential property acquired, developed, or co-invested by Nicol Investment Company as part of its Southeast-focused multifamily portfolio.
• HQ Residential property acquired, developed, or co-invested by Nicol Investment Company as part of its Southeast-focused multifamily portfolio.
• The Kelvin at Upland Park Residential property acquired, developed, or co-invested by Nicol Investment Company as part of its Southeast-focused multifamily portfolio.
• Enclave at Providence Apartments Residential property acquired, developed, or co-invested by Nicol Investment Company as part of its Southeast-focused multifamily portfolio.
• Novo Hickory Highlands Residential property acquired, developed, or co-invested by Nicol Investment Company as part of its Southeast-focused multifamily portfolio.

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators2 records

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• RPM Living: National multifamily third-party management and investment firm. Rebecca Welch joined Nicol directly from RPM Living, where she was VP of Operations—RPM is a comparable multifamily management and investment platform.
• Lincoln Property Company: One of the largest diversified real estate investment, development, and management firms in the US, with a substantial multifamily practice. Comparable as a large incumbent whose multifamily platform operates alongside Nicol's niche Southeast focus.
• Greystar Real Estate Partners: World's largest multifamily and student housing operator, developer, and investment manager. Multiple Nicol executives (Kyle Burkett, Ronnie Martin) previously worked at Greystar, and it represents the institutional-scale platform Nicol is building toward.
• RAM Partners: Full-service multifamily property management and investment firm operating ~80,000+ units nationally. Two Nicol leaders (Ronnie Martin, Rebecca Welch) previously held senior roles at RAM Partners, indicating it as a direct operational comparator.

Emerging players

• Middleburg Real Estate Partners: Privately-held multifamily investment and development firm focused on the Southeast and Mid-Atlantic. Direct comparable in geography and product type (Class A multifamily) to Nicol's portfolio.
• JLB Partners: Southeast-focused multifamily developer and investment firm headquartered in Nashville—same HQ city as Nicol—making it a particularly relevant geographic and product-market peer.

Direct peers

• Wood Partners: Private multifamily developer and investment manager focused on Class A garden-style and mid-rise communities across the Southeast and Sun Belt. Comparable to Nicol's multifamily acquisition, development, and co-investment model.
• RangeWater Real Estate: Sun Belt-focused multifamily developer, acquirer, and manager with a regional acquisition and development model similar to Nicol's, including co-investment with institutional partners across the Southeast.
• Cardinal Group Investments: Family-influenced multifamily investment, development, and property management firm that acquires, develops, and operates apartment communities—a comparable acquisition/co-investment operating model with regional geographic focus.
• Crow Holdings: Long-tenured, family-controlled real estate investment and development firm with a multifamily platform. Comparable as a multi-generational, family-controlled operator that acquires and develops real estate across regions.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights5 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Funding overview

Funding rounds

Investors

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

M&A

Investments1 record

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

Frequently asked questions about Nicol Investment Company