Kilbourne Group
Kilbourne Group is a Fargo-based real estate development firm that converts surface parking lots and historic structures into mixed-use, walkable urban assets. It serves residential renters, commercial tenants, accredited investors, and municipalities through integrated development, construction, property management, and event rental subsidiaries across the Midwest and Upper Plains.
- Company typePrivate
- Founded2006
- HeadquartersFargo, United States
- Headcount11–50
- GTM typeB2B and B2C
- OfferingServices
What Kilbourne Group does
Kilbourne Group is a Fargo, North Dakota-based real estate development firm founded in 2006 by Doug Burgum, with Lauris Molbert serving as Chairman. The company specializes in mixed-use urban development, historic redevelopment, and infill projects that convert underutilized surface parking lots and century-old structures into walkable, pedestrian-friendly mixed-use assets. Since founding, the firm has executed over 50 projects with cumulative development activity approaching $450 million, including flagship conversions such as the Black Building (now a tech hub anchored by Bobcat and Xcel Energy), Woodrow Apartments, Bostad Condos, RoCo & Dillard, Mercantile, and the ongoing $60 million NP Avenue redevelopment in partnership with the City of Fargo.
The company's offerings span an integrated service stack rather than a software product: Fundraising (private capital and public-private partnerships), Development Services (project origination and oversight), Kilbourne Construction Management (mixed-use and historic renovation execution), Centric Management (residential property management across 1,000+ units), and Elevate Event Rentals (transactional event space at 210 Broadway). Revenue is generated through a mix of one-time development and construction fees, subscription-style recurring property management income, monthly parking subscriptions (NP Parking Garage, $115/month reserved stalls), and transactional event rental fees.
Kilbourne's go-to-market is sales-led and relationship-driven, targeting four primary segments: residential renters and condo buyers seeking downtown living, commercial tenants (retail, office, restaurant) in revitalized districts, accredited real estate investors sourced through the InvestNext-powered Investor Portal, and municipal governments (most prominently the City of Fargo) with whom it executes public-private partnerships. Geographic focus spans the Midwest and Upper Plains, with active expansion into Dubuque, Marion, Billings, and Mankato beyond the historical Fargo core. The firm is privately held, founder-led, and operates with a small 11–50 person team supported by wholly-owned subsidiaries covering construction, property management, and event space operations.
Kilbourne Group firmographics
Firmographics- Name
- Kilbourne Group
- Legal name
- Kilbourne Group
- Website
- https://kilbournegroup.com
- Company type
- Private
- Founded year
- 2006
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Kilbourne Group is a Fargo-based real estate development firm that converts surface parking lots and historic structures into mixed-use, walkable urban assets. It serves residential renters, commercial tenants, accredited investors, and municipalities through integrated development, construction, property management, and event rental subsidiaries across the Midwest and Upper Plains.
- Ownership category
- akta.pro rank
Kilbourne Group industry classification
Industry- Product category
- Commercial Real Estate Development
- NAICS
- Residential Property Managers (531311), Lessors of Residential Buildings and Dwellings (531110), Lessors of Nonresidential Buildings (except Miniwarehouses) (531120)
- SIC
- Real Estate Agents & Managers (For Others) (6531), General Bldg Contractors - Residential Bldgs (1520), General Bldg Contractors - Nonresidential Bldgs (1540)
- akta.pro primary industry
- Single-Family Rental (SFR) Property Management (BPAJAFAB)
- akta.pro secondary industries
- Transitional/Development Land Brokerage (Entitled, In-Path-of-Growth) (BPAJADAJ), Property Management Advisory & Leasing Administration (FSAEAJAN)
Keywords
Where Kilbourne Group is headquartered
LocationHeadquarters
- HQ city
- Fargo
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Kilbourne Group business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Supply Chain, Marketing or Sales, Infrastructure
Revenue model
- Real Estate Development: Primary revenue stream from developing mixed-use properties including multifamily, hotel, commercial, and retail spaces. Projects span historic redevelopment and infill development across the Midwest.
- Fundraising and Capital Raising: Experienced in raising private capital for development projects and working with cities to create public-private partnerships. Revenue generated through investment contributions.
- Centric Management (Property Management): Residential property management division offering exceptional resident services, comprehensive maintenance, and efficient management of over 1,000 units
- Kilbourne Construction Management: Full service construction management company specializing in mixed-use urban development and historic renovation
- Elevate Event Rentals: Event space rental at 210 Broadway, Fargo ND offering meeting space with various configurations, AV equipment, and catering options
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Event space rental with multiple room configurations |
| Subscription | Monthly | Monthly reserved parking at NP Parking Garage |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels8 records
Kilbourne Group product offering
Product offeringCore offering
Kilbourne Group is a Fargo-based real estate development firm that designs, funds, and executes mixed-use urban infill and historic redevelopment projects across the Midwest and Upper Plains. Its operating stack spans private capital fundraising, in-house development services, full-service construction management (Kilbourne Construction Management), residential property management for 1,000+ units (Centric Management), and event space rental (Elevate Event Rentals). The firm partners with municipalities on public-private partnerships to convert underutilized surface parking lots and historic structures into walkable, mixed-use neighborhoods.
Product overview
Kilbourne Group is a real estate development firm, not a unified software platform. Its offerings consist of distinct physical development projects and service divisions: Development Services and Construction Management handle project execution; Fundraising Services manages private capital; Centric Management operates 1,000+ residential units; and Elevate Event Rentals manages event space. The product portfolio includes residential (RiverHouse Apartments, Woodrow Apartments, The Landing at 1001 NP), mixed-use (RDO Tower, Mercantile, Kesler, RoCo & Dillard), condominiums (Bostad Condos), and upcoming projects (The Avery). The firm specializes in historic redevelopment, infill development, and mixed-use multifamily construction across the Upper Plains and Midwest.
Differentiator
Problem solved
Functional benefit
Products and services
- Fundraising Services Private capital fundraising for development projects and structuring of public-private partnerships with municipalities, offered to investors and city partners across the Midwest.
- Development Services End-to-end urban real estate development services focused on walkable, mixed-use infill and historic redevelopment, with integrated teams overseeing site acquisition, design, financing, and execution.
- Kilbourne Construction Management Full-service construction management company specializing in mixed-use urban development and historic renovation, serving development projects internally and for partner projects.
- Centric Management Residential property management division providing resident services, comprehensive maintenance, and efficient management of over 1,000 apartment units across Kilbourne-owned multifamily properties.
- Elevate Event Rentals Event space rental and management at 210 Broadway, Fargo ND, offering configurable meeting rooms, audio-visual equipment, kitchen facilities, and a Broadway-facing patio for meetings and events.
- Investor Portal Online platform (kilbourne.investnext.com) where accredited investors review and access curated investment opportunities in Kilbourne Group's mixed-use development projects.
- Residential Apartment Rentals Leasing of over 1,000 apartment units across Kilbourne-owned multifamily properties in downtown Fargo and other Midwest markets, marketed through the choosecentric.com platform.
- Commercial Leasing Leasing of ground-floor retail, restaurant, and office space within Kilbourne-owned mixed-use developments in downtown Fargo, marketed through kcrfargo.com.
- NP Parking Garage 480-space city-owned parking structure at 602 NP Avenue, the largest downtown Fargo parking facility, offering hourly parking during business hours, free parking after 5 p.m. on weekdays and all day weekends, and monthly reserved parking at $115.
Quantifiable outcome
- Downtown property values increased from $210 million (2003) to $608 million (2022)
- +2 more outcomes
Companies that use Kilbourne Group
Customer profileNamed customers4 records
Segments4 records
Ideal customer profiles4 records
Kilbourne Group technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Kilbourne Group partnerships and signals
Strategic signalPartnerships
Six partnerships are on record, tiered flagship, core and minor.
- Fargo-Moorhead Community TheatreflagshipFMCT is relocating to the NP Avenue development project. The community theater, displaced from Island Park in 2019, will become part of the mixed-use development adjacent to the parking garage and Avery apartments.
- City of FargocoreOngoing public-private partnership with The City of Fargo for downtown redevelopment projects. The partnership has transformed downtown Fargo with over 50 projects including mixed-use developments, parking infrastructure, and historic renovations. Downtown property values grew from $210M in 2003 to $608M in 2022 as a result of this collaboration.
- Heritage HomesflagshipPartnership for converting floors 6, 7, and 8 of the historic Black Building into custom residential condos. Heritage Homes is developing the residential component while Kilbourne Group oversees the overall redevelopment.
- Tom and Kari Smith (Great Northern Bicycle Company)corePublic-private partnership for the Mercantile project. The Smiths are developing nine owner-occupied condos (The Great Northern Block) along the north side of the project and previously owned the historic Great Northern Bicycle Company building on the site.
- Old Broadway (Randy Thorson)minorCo-owner of Old Broadway restaurant adjacent to NP Avenue development. The area is planned for hotel development as the next phase after current construction completes.
- The City of FargocoreCity of Fargo is addressing improvements to river trails, sidewalks, and downtown blocks to enhance the overall neighborhood experience, making it welcoming and sustainable for residents and visitors.
Scale indicators10 records
Recent moves6 records
Expansion highlights6 records
Kilbourne Group competitors and assessment
Company assessmentMarket position
Competitive moat5 records
Key highlights7 records
Customer concentration
Kilbourne Group social profiles
Digital presenceKilbourne Group financial estimates
Financial estimateRevenue estimate
Valuation estimate
Kilbourne Group leadership team
Management profileNumber of profiles
Profiles4 records
Kilbourne Group subsidiaries and ownership
Company hierarchySubsidiaries3 records
Kilbourne Group funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Kilbourne 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 Kilbourne Group
What does Kilbourne Group do?
Kilbourne Group is a Fargo-based real estate development firm that designs, funds, and executes mixed-use urban infill and historic redevelopment projects across the Midwest and Upper Plains. Its operating stack spans private capital fundraising, in-house development services, full-service construction management (Kilbourne Construction Management), residential property management for 1,000+ units (Centric Management), and event space rental (Elevate Event Rentals). The firm partners with municipalities on public-private partnerships to convert underutilized surface parking lots and historic structures into walkable, mixed-use neighborhoods.
Is Kilbourne Group a public or private company?
Kilbourne Group is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Kilbourne Group founded?
Kilbourne Group was founded in 2006. It employs 11 to 50 people.
Where is Kilbourne Group based?
Kilbourne Group is headquartered in Fargo, United States, in the North America region.
How does Kilbourne Group make money?
Five revenue lines are on record. Real Estate Development is the primary driver. The others are fundraising and Capital Raising, centric Management (Property Management), kilbourne Construction Management and elevate Event Rentals.
Does Kilbourne Group have an API?
No public API is recorded for Kilbourne Group.
What industry is Kilbourne Group in?
Kilbourne Group's product category is Commercial Real Estate Development. Its primary akta.pro industry code is BPAJAFAB, Single-Family Rental (SFR) Property Management, with a secondary code of BPAJADAJ, Transitional/Development Land Brokerage (Entitled, In-Path-of-Growth). Its NAICS code is 531311 and its SIC code is 6531.