USA Properties Fund, Inc.

Name

USA Properties Fund, Inc.

Legal name

USA Properties Fund, Inc.

Website

http://usapropfund.com

Company type

Private

Founded year

1981

Operating status

Operating

Headcount range

251–500 employees

Ownership category

akta.pro rank

Product category

Affordable Housing Development

NAICS

New Multifamily Housing Construction (except For-Sale Builders) (236116), Services to Buildings and Dwellings (5617), Residential Building Construction (2361)

SIC

Real Estate Agents & Managers (For Others) (6531), Real Estate (6500)

akta.pro primary industry

Affordable Housing Property Management (BPAJAGAJ)

akta.pro secondary industries

Affordable & Public Housing Asset Management (BPAJAMAI), Multifamily Apartment Property Management (BPAJAFAA)

Keywords

• Affordable housing development
• Multifamily construction management
• Multifamily property management
• Affordable housing finance
• Public-private partnerships

Headquarters

HQ city

Roseville

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Affordable Apartment Development: USA Properties Fund develops affordable apartment communities, financing them through Low Income Housing Tax Credits (LIHTC), tax-exempt and taxable bonds, HOME funds, and other state and local subsidies. Revenue is earned through development fees, developer overhead, and equity raises from tax credit investors.
2. Multifamily Property Management: USA Multifamily Management (founded 1993) provides full-scale professional management for communities in California and Nevada, including marketing, maintenance, leasing, rehabilitation, and accounting services. Revenue is generated through management fees from the nearly 12,000 apartment homes managed.
3. Construction Management: USA Construction Management (30+ years) provides construction and rehabilitation of multifamily communities, from planning through certificates of occupancy. Revenue is earned through construction management fees on projects managed in-house.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

USA Properties Fund develops and acquires multifamily apartment communities, manages their construction and rehabilitation, and provides ongoing property management services. Its work centers on affordable, mixed-income, and selected market-rate housing supported by public-private financing structures and government subsidy programs.

Product overview

USA Properties Fund is a vertically-integrated real estate development company specializing in affordable multifamily housing across California, Nevada, and Oregon. The company operates through three core divisions: USA Multifamily Development (development and acquisition of apartment communities), USA Construction Management (full-service construction with California contractor's license), and USA Multifamily Management (property management for nearly 12,000 homes). The company has developed or acquired and rehabilitated nearly 19,000 units since 1981, with expertise in Low Income Housing Tax Credits, tax-exempt bonds, and mixed-income communities. Their portfolio includes named apartment communities such as Terracina at Tustin Legacy, Terracina at Winding Creek, The Orion, 8181 Allison, The Steven, Terracina at Wildhawk, and Mainline North. The J.B. Brown Fund provides social services including scholarships for residents.

Differentiator

Problem solved

Functional benefit

Brands

• USA Multifamily Development: Development and acquisitions team with extensive experience in affordable and market-rate multifamily housing development.
• USA Construction Management
• USA Multifamily Management

Products and services

• USA Multifamily Development Development and acquisition of affordable, mixed-income, and market-rate multifamily apartment communities, including entitlement coordination, investor relations, local-government partnerships, financing, and project delivery.
• USA Construction Management Full-service construction and rehabilitation management for multifamily communities, covering planning, cost control, scheduling, quality, safety, and certificates of occupancy under California contractor's license #912545.
• USA Multifamily Management Professional property management for apartment communities in California and Nevada, including marketing, leasing, maintenance, resident relations, rehabilitation coordination, affordable-program compliance, and accounting.
• Terracina at Winding Creek A 284-unit affordable apartment community in west Roseville, California, serving households earning 30% to 70% of area median income and including eight permanent supportive housing units.
• The Orion A 166-unit affordable senior apartment community in Orange, California, serving residents aged 55 and older and including eight permanent supportive housing units.
• 8181 Allison A 147-unit transit-oriented affordable apartment community in downtown La Mesa, California, near a trolley station and built as a five-story property with a rooftop deck and electric-vehicle charging.
• Terracina at Wildhawk A 145-unit affordable apartment community in Sacramento County's Vineyard area, with leasing underway and a $3.275 million photovoltaic solar system installed to offset electrical use.
• Mainline North A 151-unit affordable apartment community near Levi's Stadium in Santa Clara, California, with a three-level parking garage and stackable vehicle lift.

Quantifiable outcome

• 1,309 affordable apartments completed in 2025 — sixth-most in the nation and most by any California-based developer for the second consecutive year
• +4 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Ten partnerships are on record, tiered core and minor.

• The Irvine CompanycoreStrategic or Co-development PartnerIrvine Company partnered with USA Properties Fund on Terracina at Tustin Legacy, a 338-apartment affordable community in the 1,600-acre Tustin Legacy mixed-use development transforming a former Marine Corps Air Station. This is the first partnership between USA Properties Fund and Irvine Company.
• Anthem PropertiescoreStrategic or Co-development PartnerAnthem Properties is a partner on the Winding Creek Master Plan in west Roseville, where Terracina at Winding Creek (284 units) is located. Anthem serves as the master developer of the surrounding residential community.
• Housing Trust Placer Inc.coreStrategic or Co-development PartnerHousing Trust Placer is a nonprofit partner with USA Properties Fund on Hope Way Apartments, a proposed 240-unit community in Penryn. CEO Robyn van Ekelenburg emphasized the critical need for affordable housing in Placer County and the partnership's goal of housing local residents and workforce.
• Riverside Charitable CorporationcoreStrategic or Co-development PartnerRiverside Charitable Corporation partnered with USA Properties Fund on The Orion, a 166-unit senior community in Orange. Deputy Executive Director Recinda Shafer highlighted the project's legacy impact. The nonprofit originated as the Rehabilitation Institute of Orange County in 1950.
• Sierra CollegecoreStrategic or Co-development PartnerSierra College is a partner on College Park, the 108-acre master development where The Steven is located. President Willy Duncan spoke at the groundbreaking. The Steven will provide affordable housing for seniors near the college campus.
• Cresleigh HomescoreStrategic or Co-development PartnerCresleigh Homes, a leading homebuilder with subdivisions in south Placer County, is a partner in the College Park development with Sierra College and Evergreen Sierra LLC, where The Steven is being built.
• Cole Partners Development CompanyminorStrategic or Co-development PartnerCole Partners Development Company is a partner on the College Park development in Rocklin where The Steven is located.
• The Pinyon GroupminorStrategic or Co-development PartnerThe Pinyon Group co-developed Mainline North ($86M) in Santa Clara alongside USA Properties Fund as developers on the project.
• Orange County Health Care AgencyminorOthersOrange County Health Care Agency was part of the public-private partnership enabling The Orion in Orange, contributing to the financing structure for the $63.6M senior community.
• LifeSTEPScoreStrategic or Co-development PartnerLifeSTEPS is a social services provider present at many USA Properties-managed affordable communities across California, offering budgeting and financial planning, health-related programs, after-school activities for children, and other resident support services.

Scale indicators20 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• MidPen Housing: Northern California-focused nonprofit affordable housing developer that develops, owns, and manages LIHTC-financed multifamily communities for low-income households. Highly comparable as a California-based vertically-integrated affordable housing operator serving 30%-80% AMI populations.
• BRIDGE Housing: California-based nonprofit developer, owner, and property manager of affordable and mixed-income multifamily housing. Operates primarily in the San Francisco Bay Area and Southern California with LIHTC expertise, comparable scale (~10,000+ units), and similar mixed-income/mixed-population strategy.
• Mercy Housing: National nonprofit developer of affordable, mixed-income, and supportive multifamily housing across 40+ states with deep California operations. Compares closely on LIHTC-financed affordable development, mixed-population programs (seniors, families), and integrated resident services.
• Jamboree Housing Corporation: Orange County, California-based nonprofit developer of affordable and workforce multifamily housing with LIHTC and public-private partnership expertise. Comparable to USA in product mix (multifamily with mixed-income and senior components) and in geography (SoCal).
• Affirmed Housing Group: San Diego-based affordable housing developer specializing in LIHTC and mixed-income multifamily communities across Southern California. Directly comparable vertical-integrated model (development, third-party management) and similar AMI targeting (30%-80%).
• Meta Housing Corporation: Los Angeles-based affordable housing developer with 30+ year track record developing LIHTC and mixed-income communities across the Western U.S. Comparable portfolio scale, product type, and senior housing expertise; senior source of new USA Senior Director of Acquisitions Scott Nakaatari (developed $600M+ LIHTC projects).
• Eden Housing: Bay Area-based nonprofit developer and property manager of affordable multifamily housing across Northern California with deep LIHTC expertise. Direct comparable on product (multifamily affordable), geography overlap (Northern California), and integrated resident services model.

Broad incumbents

• The Related Companies (Related Affordable): National affordable and mixed-income housing developer that owns/operates tens of thousands of LIHTC units across more than a dozen states. Larger scale and broader geographic reach than USA Properties; frequently co-develops with California municipalities and Housing Trust Silicon Valley (a USA partner).

Regional players

• LINC Housing: Long Beach-based nonprofit affordable housing developer serving Southern California. Comparable product mix (multifamily affordable with mixed-income and permanent supportive housing), and comparable use of CalHFA, city, and county financing programs.

Emerging players

• AMCAL Multi-Housing Inc. California-based affordable and market-rate multifamily housing developer with strong LIHTC specialization and $600M+ project experience. Comparable California focus and LIHTC emphasis; new USA Senior Director of Acquisitions Scott Nakaatari previously led LIHTC project development here.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/usapropertiesfund
• LinkedInlinkedin.com/company/usa-properties-fund-inc.

Revenue estimate

Valuation estimate

Number of profiles

Profiles17 records

Subsidiaries4 records

Funding overview

Funding rounds1 record

Investors1 record

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 USA Properties Fund, Inc.