Larkspur Capital

Name

Larkspur Capital

Legal name

Larkspur Capital LP

Website

https://larkspurcapital.com

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

1–10 employees

Ownership category

akta.pro rank

Product category

Commercial Real Estate Development

NAICS

Other Investment Pools and Funds (5259)

SIC

Real Estate Dealers (For Their Own Account) (6532), Investors, Nec (6799)

akta.pro primary industry

Real Estate Funds — Opportunistic / Development (FSANAEAI)

akta.pro secondary industry

Real Estate Investment Management (Acquisitions & Dispositions) (BPAJAMAK)

Keywords

• Commercial real estate development
• Multifamily housing development
• Mixed-use real estate
• Real estate asset management
• Townhouse development

Headquarters

HQ city

Dallas

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Development and Property Sales: The firm acquires, develops, and sells commercial real estate assets including land, townhouses, multifamily, retail, office, and industrial properties across the Dallas-Fort Worth metro area.
2. Property Leasing and Management: Leasing and managing multifamily, retail, and office properties including shopping centers like Wilshire Gardens and office buildings like Gaston Tower.
3. Institutional Investment Partnerships: Manages real estate assets on behalf of institutional investors, earning development fees and carried interest through partnerships.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Larkspur Capital acquires, develops, and manages commercial real estate assets on behalf of institutional investors, with a focus on institutional development in urban core submarkets within the Dallas-Fort Worth MSA. The firm forms partnerships funded by select private equity firms and family offices, with principals co-investing a significant portion of equity in each partnership. The portfolio spans townhouse, multifamily, retail, office, industrial, and land developments.

Product overview

Larkspur Capital is a commercial real estate development firm that operates as a single-platform business offering development services across multiple property types. The company's portfolio includes townhouse developments (The Ivy, Bennett Avenue, The Block, The Row on Elsbeth, Manett Street, Zang Towns, TyPo Towns), multifamily residential (The Willow, The Juniper, The Dahl, Santa Fe Trail Lofts, Victoria Row, Zang Flats, Capitol Flats, Eastlake, Kessler Bluffs), retail properties (Wilshire Gardens, build-to-suit projects), office redevelopment (Gaston Tower, Westside Village Office Phase I), industrial warehousing (Willow Street Warehouses), and land development. The flagship project is Westside Village, a $1.7 billion mixed-use development in Fort Worth being developed in partnership with Keystone Group.

Differentiator

Problem solved

Functional benefit

Products and services

• Westside Village Mixed-Use Development Transformative 37-acre mixed-use development near the Fort Worth Cultural District, including approximately 880,000 SF of office space, 238,000 SF of retail, 1,785 apartment units, a 175-key hotel, and $45 million in infrastructure. Being developed in partnership with Keystone Group (Robert Bass).
• Townhouse Developments Residential townhouse developments across Dallas-Fort Worth neighborhoods including East Dallas, Bishop Arts, and Knox-Henderson areas. Projects include The Ivy, Bennett Avenue Townhouses, The Block, The Row on Elsbeth, Manett Street Townhouses, Zang Towns, TyPo Towns, Crawford Park, and The Quarter.
• Multifamily Residential Developments Multifamily apartment and build-for-rent developments including The Willow (190-unit in Exposition Park), The Juniper (219-unit with ground floor retail), The Dahl (292-unit workforce housing), Santa Fe Trail Lofts (240-unit), Victoria Row (155-unit in The Cedars), Zang Flats (72-unit), Capitol Flats (60-unit), Eastlake (56-unit), and Kessler Bluffs (146-unit).
• Retail Development Retail space development including Wilshire Gardens (20,000 SF shopping center in Burleson with tenants Schlotzsky's, Dunkin Donuts, Baskin Robbins, Verizon, Palio's Pizza), Jimmy John's Build-to-Suit in Fort Worth, and Advance Auto Parts pad site development in Burleson, TX.
• Office Properties
• Industrial Properties Industrial warehouse development including Willow Street Warehouses (33,763 SF seven-warehouse complex in Deep Ellum district).
• Land Development Land development and ground lease opportunities including Trinity Levee Ground Lease (33,352 SF land south of I-30), Oak Lawn Development Site (56,000 SF site), and Alexan Henderson Land Assemblage. Larkspur acquires properties as part of land assemblages and sells to builders and investment groups.
• Institutional Investment Partnerships Real estate investment partnerships funded by select private equity firms and family offices, with principals co-investing a significant portion of equity in each partnership to align interests with limited partners. Earning development fees, management fees, and carried interest.

Quantifiable outcome

• Above-market returns on partnership investments

Named customers5 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Eleven partnerships are on record, tiered core and minor.

• HPI Real Estate Services & InvestmentscoreChannel Partner/ Reseller/ Distributor · 5 September 2025HPI leads office leasing for Westside Village Phase I. Fort Worth team of Matt Montague, Jake Neal, and Colt McCoy handling pre-leasing for the 100,000 SF Class AA office building.
• Keystone Group LPcoreStrategic or Co-development Partner · 2 February 2024Partnership with Fort Worth-based Keystone Group LP (Robert Bass) for Westside Village, a $1.7 billion mixed-use development. FW Westside RE Investors LLC is the joint venture entity. The partnership combines Larkspur's Dallas development expertise with Keystone's local Fort Worth market knowledge.
• Michael Hsu Office of Architecture (MHOA)coreImplementation/ SI/ Consulting PartnerAustin-based Michael Hsu Office of Architecture leads master plan design for Westside Village, blending diverse building types, public spaces, and curated experiences into a walkable environment.
• CorgancoreImplementation/ SI/ Consulting PartnerArchitect of record for Westside Village Phase I office building and lead designer for the multifamily building. Corgan serves as architect of record for the 100,000 SF office building.
• GGN Landscape ArchitecturecoreImplementation/ SI/ Consulting PartnerSeattle-based GGN leads public space design for Westside Village, combining beauty and function to create inviting places.
• Architecture DemarestminorImplementation/ SI/ Consulting PartnerArchitecture firm partner on Victoria Row townhome development in The Cedars district of Dallas.
• B2 Design Co.minorImplementation/ SI/ Consulting PartnerDevelopment partner on Victoria Row 155-unit build-for-rent townhome project.
• Garrison/Jones Landscape ArchitectsminorImplementation/ SI/ Consulting PartnerLandscape architecture partner on Victoria Row project.
• Acadian GroupminorImplementation/ SI/ Consulting PartnerGeneral contractor for Victoria Row build-for-rent townhome community.
• ZRS Management LLCminorChannel Partner/ Reseller/ DistributorProperty management company handling leasing for Capitol Flats (469-324-2882), Zang Flats (945-356-2933), Eastlake (945-279-2117), and other multifamily properties.
• OmniplanminorImplementation/ SI/ Consulting PartnerArchitectural firm that helped Larkspur conceive the top-to-bottom remodel of Gaston Tower (formerly Faulkner Tower).

Scale indicators3 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Centurion American Development Group: Dallas-based real estate developer specializing in large-scale mixed-use, multifamily, and luxury residential projects across DFW. Directly comparable in property mix, geographic concentration, and target customer base of high-end urban buyers and institutional partners.
• Wood Partners: National multifamily developer headquartered in Atlanta with major DFW operations, building Class A apartment communities. Comparable in multifamily development scale, urban submarket targeting, and reliance on institutional capital partners.
• Hillwood: Ross Perot Jr.'s Dallas-based real estate development firm focused on mixed-use, industrial, and master-planned communities in DFW. Comparable in targeting large transformational mixed-use projects in North Texas and competing for similar institutional capital partnerships.
• Kairoi Residential: San Antonio-based multifamily developer with significant DFW presence, focused on urban and suburban Class A apartments. Comparable in property type focus and Sun Belt institutional capital model; notably one of Larkspur VP Schafer Smartt's prior employers.
• Trammell Crow Company: Major US commercial real estate developer and investor with significant DFW presence across multifamily, office, and mixed-use. Directly comparable as Larkspur has sold assembled land to Trammell Crow Residential for a 371-unit multifamily project, placing both firms in the same competitive set for DFW development deals.
• The Beck Group: Dallas-based integrated architecture, construction, and real estate development firm with multifamily, office, and mixed-use projects across Texas. Comparable in DFW concentration and integrated real estate services model.
• JPI (Jupiter Partners Inc.): Dallas-based multifamily developer and builder with national operations focused on Class A urban multifamily communities. Comparable in multifamily product focus and DFW roots, with similar institutional capital relationships for project partnerships.
• StreetLights Residential: Dallas-based luxury multifamily developer focused on urban infill Class A apartment communities in DFW and select Sun Belt markets. Comparable in targeting urban core neighborhoods and serving similar institutional investor partnerships for multifamily development.

Broad incumbents

• Lincoln Property Company: One of the largest privately held US real estate firms, headquartered in Dallas, with deep multifamily, office, and mixed-use operations across multiple markets. Comparable in property type and DFW focus but operates at materially larger scale and broader geographic footprint.

Regional players

• Crescent Real Estate: Fort Worth-based real estate investment and development firm with holdings in office, hospitality, and mixed-use properties. Especially relevant given its Fort Worth base and overlap with the Westside Village cultural district corridor where Larkspur is actively developing.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/larkspur-capital-partners-llc
• Instagraminstagram.com/larkspur_capital
• Facebookfacebook.com/larkspurcapital

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 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 Larkspur Capital