RD Management

What RD Management does

RD Management LLC is a privately held, vertically integrated real estate investment, development, and management firm founded in 1968 and headquartered at 1745 Broadway, New York. The company owns, develops, leases, and manages a portfolio of 150+ properties spanning more than 10 million square feet across mixed-use, retail, office, residential, hospitality, self-storage, senior and student housing, industrial, and government sectors in the continental United States and Puerto Rico. Core operations encompass six in-house service lines — leasing, property management, construction and development, accounting and financial, legal, and IT — supported by what the company describes as best-in-class accounting and property-management systems providing real-time rent, sales, cost, and tax tracking. The firm executes aggressive marketing toward national and regional retailers, conducts local market analysis to establish rent guidelines and tenant mix, and negotiates directly with retailer counterparts to expedite lease execution; co-tenancy and anchor strategy are central to lease-up economics.

The revenue model is grounded in commercial real estate leasing and rental income — recurring rents, additional charges, and lease-related fees across the owned and managed portfolio — with pricing negotiated case-by-case (no public tiers). Customer base is dominated by investment-grade national retailers (Walmart, Target, The Home Depot, Lowe's, Kohl's, T.J. Maxx, Ross, BJ's Wholesale Club, Stop & Shop, Dick's Sporting Goods, Kroger) alongside a growing roster of restaurant, fitness, entertainment, education, and innovation tenants concentrated in mixed-use developments. In September 2025, the company consolidated affiliated partnerships into a wholly owned subsidiary, RD Property LLC (50 properties, 4 million sq ft), supported by a $350 million term loan and revolving credit facility led by KeyBank with BNY Mellon, Huntington, and PNC. Flagship redevelopment Tampa RITHM is a 100-acre, 1.3M sq ft live-work-learn-play conversion anchored by USF Institute of Applied Engineering, VU Studios, Sun-Ray Cinema, LA Fitness, Sprouts, Burlington, and nearly 5,000 student housing beds across Core Spaces and Landmark Properties communities.

Ownership remains private and family-led at the founding level, with Richard J. Birdoff (Executive Chairman & Co-CEO) and Michael Carroll (Co-CEO, the first non-founding-family co-leader, ex-CEO of Centro/Brixmor and founder of ShopOne Centers REIT) jointly leading the firm alongside John Hayes (CFO, ex-Urstadt Biddle) and an executive bench averaging 30+ years of retail real-estate experience. Headcount of 51–100 employees is consistent with a lean owner-operator that externalizes much of the on-site property-level execution to vendors while concentrating internal headcount on leasing, asset management, capital markets, redevelopment, and corporate functions.

Name

RD Management

Legal name

RD Management LLC

Website

https://rdmanagement.com

Company type

Private

Founded year

1968

Operating status

Operating

Headcount range

51–100 employees

Short description

RD Management is a privately held, vertically integrated real estate investment, development, and management firm founded in 1968 that owns and operates 150+ properties totaling 10M+ sq ft across retail, mixed-use, and other commercial sectors in the U.S. and Puerto Rico, serving investment-grade national tenants such as Walmart, Target, Kroger, BJ's, Home Depot, and Lowe's.

Ownership category

akta.pro rank

Product category

Commercial Real Estate Management

NAICS

Real Estate Property Managers (53131), Rental and Leasing Services (532), Residential Property Managers (531311)

SIC

Operators Of Nonresidential Buildings (6512), Lessors Of Real Property, Nec (6519), Real Estate (6500)

akta.pro primary industry

Office Real Estate Asset Management (BPAJAMAG)

akta.pro secondary industries

Commercial Real Estate Brokerage (Leasing & Sales) (FSAEAJAB), Healthcare & Senior Housing Real Estate Asset Management (BPAJAMAH)

Keywords

• Commercial real estate
• Property management
• Retail leasing
• Mixed-use development
• Real estate investment

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Commercial Real Estate Leasing and Rental Income: RD Management generates revenue through leasing retail, office, and other commercial spaces to national and regional tenants. Income is derived from rent payments, additional charges, and lease-related fees. They focus on minimizing vacancy time and maximizing occupancy rates across their portfolio of 150+ properties.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

RD Management owns, develops, and manages a portfolio of 150+ commercial real estate properties spanning more than 10 million square feet across the United States and Puerto Rico, including shopping centers, mixed-use developments, retail, office, hospitality, self-storage, senior/student housing, industrial, and government assets. The firm offers an integrated suite of in-house services covering leasing, property management, construction and development, accounting and financial reporting, legal, and IT services to tenants and property owners.

Product overview

RD Management is a privately held real estate investment and management firm offering an integrated suite of services including leasing, property management, construction & development, accounting & financial, legal, and IT services. The company owns and operates a portfolio of 150+ assets spanning mixed-use, retail, office, residential, hospitality, self-storage, senior/student housing, industrial, and government sectors throughout the United States and Puerto Rico. Key property offerings include Tampa RITHM (a transformative mixed-use redevelopment project), Russell Centre (retail development), and Casselberry Exchange Shopping Center. In September 2025, the company formed RD Property LLC to consolidate 50 properties totaling 4 million square feet under a unified platform with a $350 million credit facility.

Differentiator

Problem solved

Functional benefit

Products and services

• Leasing Services
• Property Management
• Construction & Development
• Accounting & Financial Services
• Legal Services
• IT Services
• Tampa RITHM
• RD Property LLC
• Casselberry Exchange Shopping Center

Quantifiable outcome

• Achieved full occupancy at Casselberry Exchange Shopping Center by early 2026 following $6M+ redevelopment investment.
• +3 more outcomes

Named customers25 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered supporting and core.

• Bass, Berry and SimssupportingImplementation/ SI/ Consulting Partner · 30 September 2025Legal counsel representing RD Property LLC in the formation and $350 million credit facility closing.
• Roberts & HollandsupportingImplementation/ SI/ Consulting Partner · 30 September 2025Legal counsel representing RD Property LLC in the strategic consolidation and credit facility formation.
• Riemer & BraunsteinsupportingImplementation/ SI/ Consulting Partner · 30 September 2025Legal counsel representing KeyBank and the lending group in the $350 million credit facility transaction.
• Core SpacescoreStrategic or Co-development Partner · 15 July 2024Student housing development partner at Tampa RITHM. Core Spaces developed Hub 1 (opened 2022, approximately 891 units, 700-stall garage) and is developing Hub 2 ($185 million development, 1,167 beds, 800-stall garage, opening summer 2027).
• Landmark PropertiescoreStrategic or Co-development Partner · 15 July 2024Student housing development partner contributing three additional student communities to the Tampa RITHM area, bringing combined student housing total to nearly 5,000 beds across five communities.

Scale indicators10 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Brixmor Property Group: Brixmor is one of the largest publicly traded shopping center REITs in the U.S. with ~370 properties and a comparable national-tenant focus. Highly relevant because RD Management's Co-CEO Michael Carroll previously led the Brixmor IPO, and the companies share a similar operating playbook around grocery-anchored and necessity-based retail.
• Kimco Realty: Kimco is the largest publicly traded open-air shopping center owner in North America with over 600 properties. Directly comparable to RD Management's portfolio strategy, tenant mix (national retailers like Walmart, Target, Home Depot), and direct leasing model. RD's property tax director Thomas Platz previously worked at Kimco.
• Regency Centers: Regency Centers is a leading grocery-anchored shopping center REIT with over 480 properties. Comparable in tenant strategy (national grocers and necessity-based retailers like Kroger) and recent merger activity with Urstadt Biddle Properties, where RD's CFO John Hayes previously served as CFO for 16+ years.
• Kite Realty Group: Kite Realty is a publicly traded shopping center REIT with a portfolio of ~170 open-air shopping centers concentrated in the Sunbelt. Highly comparable scale, tenant mix (Walmart, Target, Whole Foods), and recent merger activity with Retail Properties of America make it a direct operational peer to RD Management's 150+ property platform.
• Phillips Edison & Company: Phillips Edison is a publicly traded net-lease shopping center REIT with over 300 grocery-anchored properties. Comparable in focus on necessity-based retail, long-duration triple-net leases, and middle-market tenant roster similar to RD Management's inline retail tenants.

Broad incumbents

• Federal Realty Investment Trust: Federal Realty is a larger, established open-air shopping center and mixed-use REIT with premier properties in major metro areas. Overlaps with RD Management's mixed-use redevelopment strategy (Tampa RITHM) and high-profile tenant relationships, though Federal Realty's portfolio skews to higher-density mixed-use assets.
• Simon Property Group: Simon is the largest publicly traded REIT in the U.S. with a portfolio that includes premium shopping centers, malls, and mixed-use developments. Operates broadly in the same industry as RD Management but at much larger scale with mall and Class A retail assets rather than RD's community shopping center focus.
• Brookfield Property Partners: Brookfield Property Partners is one of the world's largest commercial real estate platforms with retail, office, multifamily, hospitality, and self-storage holdings. Comparable to RD Management's diversified property mix and operating geographies, but at substantially greater scale and with a global footprint.

Emerging players

• InvenTrust Properties: InvenTrust is a privately held open-air shopping center owner with a Sunbelt-focused, necessity-based retail portfolio. Highly comparable in scale, private structure, and tenant strategy to RD Management's RD Property LLC platform, though smaller and with a more focused geographic footprint.
• Centerspace: Centerspace is a publicly traded REIT focused on workforce housing, multifamily, and self-storage. Comparable to the residential, hospitality, and self-storage components of RD Management's diversified portfolio, though not focused on retail shopping centers.

Market position

Strengths3 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/rd-management-llc

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Subsidiaries1 record

Funding overview

Funding rounds2 records

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 RD Management