What McDowell Properties does

McDowell Properties is a privately held, founder-led real estate investment and development firm founded in 2004 and headquartered in San Francisco, with regional offices in Miami, Dallas (Addison), Denver, New York, and Raleigh. The firm operates two distinct divisions: McDowell Properties, which targets value-add acquisition and repositioning of conventional market-rate multifamily rental properties in US growth markets, and McDowell Housing Partners (MHP), formed in 2019 as a wholly-owned affiliate that develops affordable housing using Low-Income Housing Tax Credits (LIHTC), tax-exempt bonds, and public-private partnerships. Since inception, McDowell has acquired over $3.6 billion of real estate comprising more than 45,000 units and has invested in commercial mortgage-backed securities backed by over $23 billion in multifamily loans. The firm maintains offices in six US cities and serves institutional investors through sponsored fund vehicles, joint venture partners, and government housing agencies through affordable housing developments.

McDowell's conventional business targets long-term or undercapitalized owners of aging multifamily assets in growth markets, creating value through renovation, repositioning, and intensive asset management. Notable recent acquisitions include Pillars at Great Bridge (192 units, Chesapeake, VA, $38.25M, 2025), The Quinn at the Perimeter (312 units, Atlanta, 2025), and The Marlow (272 units, Henderson, NV, 2025). MHP, the affordable housing arm, has completed or is developing 17+ affordable housing projects in Florida, including flagship Ekos-branded communities such as Ekos Creekside ($63M, Naples), Ekos at Pembroke Park ($64.68M, senior housing), and Douglas Gardens Senior Health and Living ($139M, the largest affordable senior project in Broward County). The firm employs a design-build methodology with integrated construction, development, asset management, and compliance capabilities.

Revenue is generated through acquisition and disposition fees, development and tax credit syndication fees, asset management fees on institutional capital, and CMBS B-Piece investments. The firm distributes its services through direct institutional investor relationships, joint venture equity partnerships (e.g., Xyston Capital Management, RSE Capital Partners), investment broker networks (Berkadia), and government partnerships with state housing finance corporations and municipalities. Customer segments include institutional investors and fund LPs (primary), low-to-moderate income households earning 30-80% of Area Median Income, government housing agencies, and property sellers of undercapitalized multifamily assets. McDowell is privately held with no disclosed external funding rounds; capital is sourced from institutional fund vehicles and JV partners.

Name

McDowell Properties

Legal name

McDowell Properties

Website

https://mcdprop.com

Company type

Private

Founded year

2004

Operating status

Operating

Headcount range

11–50 employees

Short description

McDowell Properties is a privately held multifamily real estate investment and development firm with two divisions: conventional value-add apartment acquisitions ($3.6B+ acquired, 45,000+ units) and McDowell Housing Partners, an affordable housing developer using LIHTC financing across Florida and Texas, serving institutional investors, government agencies, and low-to-moderate income households.

Ownership category

akta.pro rank

Product category

Multifamily Real Estate Investment & Development

NAICS

Real Estate Property Managers (53131), Residential Property Managers (531311)

SIC

Real Estate Dealers (For Their Own Account) (6532), Land Subdividers & Developers (No Cemeteries) (6552)

akta.pro primary industry

Residential Investment Property Brokerage (SFR/Small Multifamily) (BPAJAAAE)

akta.pro secondary industry

Land & Development Site Brokerage (BPAJABAG)

Keywords

• Multifamily investment
• Affordable housing development
• Real estate acquisitions
• LIHTC financing
• Asset management

Headquarters

HQ city

Addison

HQ country

United States

HQ region

North America

Offices6 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Infrastructure, Marketing or Sales

Revenue model

1. Acquisition and Disposition Fees: The firm generates revenue through acquiring and disposing of multifamily properties. Since inception, McDowell has acquired over $3.6 billion of real estate comprising over 45,000 units. The company targets value-add opportunities, purchasing from long-term or undercapitalized owners, and creates value through renovation, repositioning, and intensive management.
2. Development Fees and Tax Credit Syndication: McDowell Housing Partners develops affordable housing communities utilizing the Low-Income Housing Tax Credit (LIHTC) program. Revenue is generated through development fees, developer fees, and the syndication of tax credits to financial institutions. The company structures public-private partnerships with state tax credit issuers, municipalities, and investors.
3. Asset Management Fees: The company manages the operational and financial performance of investments, including stabilized assets and assets undergoing capital improvements. Revenue is earned through ongoing asset management fees from institutional investors and joint venture partners.
4. CMBS B-Piece Investments: McDowell Properties invests in commercial mortgage-backed securities, specifically purchasing B-Pieces at discounts to face value. The company has invested in securities backed by over $23 billion in multifamily loans secured by over 291,000 apartment units.

Go-to-market motion3 records

Distribution channels4 records

Marketing channels3 records

Core offering

McDowell Properties is a privately held multifamily real estate investment and development firm that acquires, repositions, and manages market-rate apartment properties through institutional fund vehicles. Through its wholly-owned subsidiary McDowell Housing Partners (formed 2019), the company develops affordable housing communities utilizing Low-Income Housing Tax Credits (LIHTC), tax-exempt bonds, and public-private partnerships. Since inception, McDowell has acquired over $3.6 billion of real estate comprising 45,000+ units and developed 17+ affordable housing projects in Florida.

Product overview

McDowell Properties operates as a national multifamily investment and development platform with two primary divisions. McDowell Properties focuses on conventional market-rate apartment acquisitions and asset management, having acquired over $3.6 billion of real estate comprising 45,000+ units since inception. McDowell Housing Partners, formed in 2019, specializes in affordable housing development utilizing Low-Income Housing Tax Credits (LIHTC), tax-exempt bonds, and other public/private financing mechanisms. The company has developed over 17 affordable housing projects across Florida and Texas. The platform spans the full development lifecycle including finance, design, entitlements, project management, general contracting, accounting, asset management, and compliance. Key product lines include conventional value-add acquisitions (such as Pillars at Great Bridge, The Quinn at the Perimeter, The Turn) and affordable housing communities under the Ekos brand (Ekos Creekside, Ekos at Pembroke Park, Southpointe Vista Phases I and II, Ekos at Warrington, Ekos at Arbor Park).

Differentiator

Problem solved

Functional benefit

Products and services

• Conventional Multifamily Investment Market-rate apartment acquisition and asset management services targeting institutional investors. Since inception, the firm has acquired over $3.6 billion of real estate comprising 45,000+ units, with investments in commercial mortgage-backed securities backed by $23 billion+ in multifamily loans secured by 291,000+ apartment units.
• McDowell Housing Partners (Affordable Housing Development) Affordable housing development division utilizing Low-Income Housing Tax Credits (LIHTC), tax-exempt bonds, and public-private partnerships. Capabilities span finance, design, entitlements, project management, general contracting, accounting, asset management, and compliance. Has completed 17+ affordable housing projects in Florida serving households earning 30-80% of Area Median Income.
• CMBS B-Piece Investment Program Investment program targeting commercial mortgage-backed securities, specifically purchasing B-Pieces at discounts to face value. The firm has invested in securities backed by over $23 billion in multifamily loans secured by over 291,000 apartment units.

Quantifiable outcome

• Over $3.6 billion in real estate acquired since inception
• +4 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Two partnerships are on record, tiered core.

• Area Agency on Aging of Broward CountycoreStrategic or Co-development Partner · 27 October 2025The Area Agency on Aging of Broward County will lease commercial space at Ekos at Pembroke Park to offer supportive services to older adult residents aged 60 or older.
• BerkadiacoreChannel Partner/ Reseller/ Distributor · 15 April 2025Berkadia arranged the sale and financing of Nova Central, a 140-unit value-add multifamily asset in Davie, Florida, from Robbins Property Associates to McDowell Properties.

Scale indicators12 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• The NRP Group: National multifamily affordable housing developer and general contractor. Directly comparable to McDowell Housing Partners as both develop LIHTC-financed affordable communities with integrated design-build capabilities across multiple states.
• Conifer Realty: National affordable and workforce housing developer. Brian Ivy, McDowell Housing Partners' EVP of Development, was previously SVP of Finance at Conifer, signaling deep operational overlap in LIHTC development and asset management.
• Housing Trust Group: Florida-based affordable housing developer. Charles Gumucio, McDowell Housing Partners' VP of Asset Management, previously spent 7 years as VP of Asset Management at Housing Trust Group, indicating closely aligned Florida affordable housing focus.
• Carmel Partners: Multifamily investment and development firm focused on urban infill and value-add multifamily. Jake Gentling, McDowell's MD of Acquisitions, was previously a Project Manager at Carmel Partners, reflecting overlap in value-add multifamily acquisition strategy.
• Bell Partners: Multifamily investment and management firm operating a value-add acquisition and operating platform. Travis Rann, McDowell's Senior Capital Projects Manager, was previously a multi-site Service Manager at Bell Partners, indicating directly comparable multifamily value-add operations.
• Xyston Capital Management: Real estate private equity firm focused on multifamily joint ventures. Xyston is McDowell's active JV partner on the Pillars at Great Bridge acquisition, owning 60% of equity, making it a directly comparable capital partner executing similar multifamily value-add strategies.

Emerging players

• Beneficial Communities: Florida-focused LIHTC affordable housing developer. Kenny Bowron Jr., McDowell Housing Partners' Director of Acquisitions, previously led acquisitions and predevelopment at Beneficial Communities for over a decade, indicating closely aligned Florida affordable housing acquisition workflows.
• Kittle Property Group: Multifamily developer and operator with affordable and market-rate segments. Misty Smith, McDowell Housing Partners Asset Manager, was previously Regional VP at Kittle Property Group, signaling overlap in multifamily asset management and new construction.

Broad incumbents

• Stockbridge Capital Group: Investment management firm with multifamily and real estate strategies. Theresa Mah, McDowell's Controller, was previously Accounting Manager at Stockbridge Capital Group, reflecting comparable multifamily investment fund accounting and reporting operations.
• Lincoln Property Company: National multifamily management, development, and investment firm. Colin Santos, McDowell's SVP of Asset Management & Construction Services, was previously Regional Manager at Lincoln Property Company, indicating directly comparable multifamily operations and capital project management.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/mcdowell-properties

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries1 record

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 McDowell Properties