Hilltop Residential

What Hilltop Residential does

Hilltop Residential is a privately held, vertically integrated multifamily real estate investment and management company founded in 2017 in Houston, Texas by Greg Finch and David Wylie. The firm acquires, renovates, and manages Class A and value-add apartment communities across Texas, Florida, Georgia, North Carolina, and Tennessee, building a portfolio that has scaled to roughly 38 owned and managed communities and approximately 10,722 units since inception, with cumulative transaction volume of approximately $2.8 billion and $1.35 billion in equity invested. The company reports realized performance of 24.2% gross IRR and 19.7% net IRR since 2017, sourced from a combination of rental income, property management fees, fund management fees, and asset disposition gains. The company has no proprietary technology platform; its edge rests on off-market deal sourcing, in-house capital projects and property management, and executive experience totaling more than 100 years in multifamily real estate.

Hilltop raises institutional capital through sequential closed-end private equity funds — most recently Hilltop Growth Fund V at $245 million in 2022 and Hilltop Growth Fund VI at $288 million in April 2026, the largest fundraise in the company's history — with limited partners including endowments, foundations, financial institutions, insurance companies, and family offices. Fund VI targets $1.5–$2.0 billion in gross asset value and has already deployed capital into nine assets. Over 80% of acquisitions are sourced off-market through long-standing relationships, and the firm uses an in-house property management platform to maximize resident experience and operating margin. The company reports a Great Place to Work certification every year from 2019 through 2025.

In May 2025, Hilltop extended its platform beyond value-add acquisitions with the launch of Hilltop Residential Development, a ground-up construction division led by Managing Partner Eric Overton, who brings experience across 25 prior developments totaling 8,900 units and $1.25 billion in capitalization. The company is not publicly traded, does not disclose revenue, and operates a corporate headquarters in Houston alongside a Dallas-based development office. Customer-facing channels include individual property websites for resident leasing and a secure investor portal for fund LPs.

Name

Hilltop Residential

Legal name

Hilltop Residential

Website

https://livehilltop.com

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

11–50 employees

Short description

Hilltop Residential is a privately held, vertically integrated multifamily real estate investment and management firm that acquires, renovates, and operates apartment communities across Texas and the southeastern United States, serving institutional investors through closed-end private equity funds and individual renters through owned properties.

Ownership category

akta.pro rank

Product category

Multifamily Real Estate Investment and Management

NAICS

Land Subdivision (2372), New Multifamily Housing Construction (except For-Sale Builders) (236116), Lessors of Residential Buildings and Dwellings (53111), New Housing For-Sale Builders (236117)

SIC

Land Subdividers & Developers (No Cemeteries) (6552), Operative Builders (1531)

akta.pro primary industry

Spec Home / Production Homebuilding (Tract & Volume Builders) (IMAFABAD)

akta.pro secondary industry

Residential Land Development & Subdivision Homebuilding (Build-to-Sell Communities) (IMAFABAL)

Keywords

• Multifamily real estate investment
• Apartment property management
• Private equity real estate funds
• Value-add multifamily acquisitions
• Multifamily development

Headquarters

HQ city

Houston

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, Supply Chain

Revenue model

1. Rental Income: Monthly rental income from owned apartment communities. The company owns and manages approximately 38 apartment communities totaling 10,722 units, generating recurring rental revenue.
2. Fund Management Fees: Asset management and performance fees from managing private equity funds including Hilltop Growth Fund VI ($288 million), Fund V ($245 million), and prior funds. Investors include endowments, foundations, financial institutions, insurance companies, and family offices.
3. Property Management Fees: In-house property management platform generates management fees while maximizing living experience for residents across the portfolio.
4. Asset Disposition Gains: Capital appreciation realized through strategic property sales. Examples include sale of Mason Park Apartments, 3101 Place, and other assets after value-add improvements.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels6 records

Core offering

Hilltop Residential is a vertically integrated multifamily real estate investment and management firm that acquires, renovates, and operates Class A and value-add apartment communities across Texas and the southeastern United States. It raises institutional capital through closed-end private equity funds (Hilltop Growth Fund V and Fund VI) and generates revenue from rental income, asset disposition gains, and fund management fees across a portfolio of approximately 38 owned communities totaling 10,722 units.

Product overview

Hilltop Residential is a vertically integrated multifamily real estate investment and management company offering apartment communities across the southeastern United States. The company operates investment funds (Hilltop Growth Fund V and Fund VI) targeting value-add multifamily properties, provides property management services, and has recently expanded into ground-up development with Hilltop Residential Development. The portfolio consists of owned and managed apartment communities across multiple states including Texas, Florida, Georgia, Tennessee, and North Carolina.

Differentiator

Problem solved

Functional benefit

Brands

• Hilltop Residential Development: Division dedicated to ground-up construction of high-quality multifamily communities in high-growth U.S. markets, launched in 2025.

Products and services

• Multifamily Apartment Communities (Rental Housing) Owned and operated Class A and value-add apartment communities totaling approximately 10,722 units across 38 communities, leased to individual renters and families in growth markets across the southeastern United States and Texas.
• Hilltop Growth Fund VI Closed-end private equity fund offering targeting value-add multifamily investments in growth markets across the southeastern United States and Texas, with $288 million in commitments from endowments, foundations, financial institutions, insurance companies, and family offices.
• Hilltop Growth Fund V Closed-end private equity fund with $245 million in commitments targeting value-add multifamily investments across Texas and the southeastern United States.
• In-House Property Management Services Vertically integrated property management platform operated in-house across Hilltop's owned multifamily portfolio, delivering leasing, resident services, and on-site operations while generating management fees and margin capture.
• Hilltop Residential Development (Ground-Up Development Division) Newly launched ground-up multifamily construction division focused on developing high-quality multifamily communities in high-growth U.S. markets, expanding Hilltop beyond value-add acquisitions into new-build development.

Quantifiable outcome

• 24.2% realized gross IRR and 19.7% net IRR since inception in 2017
• +3 more outcomes

Named customers6 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

One partnership is on record.

• Bluerock Residential Growth REIT, Inc.coreStrategic or Co-development Partner · 10 July 2017Hilltop partnered with Bluerock Residential Growth REIT, Inc. to acquire the Villages of Cypress Creek, a 384-unit apartment property in Houston, Texas. This strategic partnership enabled joint acquisition of a significant asset in the affluent Cypress/Fairbanks submarket.

Scale indicators12 records

Recent moves3 records

Expansion highlights5 records

Direct peers

• RangeWater Real Estate: Sun Belt-focused multifamily acquirer, developer, and manager with a similar value-add playbook across TX, FL, GA, NC, and SC; closely comparable on geography, strategy, and fund model.
• Venterra Realty: Houston-based multifamily investment and management firm operating across the Sun Belt; Hilltop co-founder Greg Finch was previously President of Venterra, making it the most direct precedent for Hilltop's strategy.
• GID Investment Advisers: Vertically integrated real estate investment manager with a multifamily strategy targeting institutional capital, comparable to Hilltop's fund-based model and Sun Belt concentration.
• American Landmark: Multifamily acquisition and property management firm specializing in value-add apartment communities across the Southeast and Texas, with a comparable institutional investor base.
• Bluerock Residential Growth REIT: Multifamily-focused REIT that has partnered with Hilltop on acquisitions (e.g., Villages of Cypress Creek) and operates a similar value-add institutional strategy in Sun Belt markets.
• JLB Partners: Multifamily developer and investment firm operating across the Southeast and Texas; comparable to Hilltop's expansion into ground-up development under the newly launched Hilltop Residential Development arm.

Broad incumbents

• Crow Holdings: Diversified real estate investment manager with a sizable multifamily investment platform; Hilltop Development's Eric Overton previously worked at Crow Holdings, signaling cultural and operational overlap.
• Camden Property Trust: Public multifamily REIT with a portfolio heavily weighted to the Southeast and Texas, overlapping Hilltop's geographic footprint and resident demographic.
• MAA (Mid-America Apartment Communities): Large-cap public multifamily REIT concentrated in the Sun Belt; provides a scaled public-market comparable for Hilltop's regional rental apartment thesis.
• DHI Communities (D.R. Horton): Build-to-rent multifamily arm of D.R. Horton; relevant comparable for Hilltop Residential Development's ground-up rental strategy, given Eric Overton's prior leadership role at DHI.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 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 Hilltop Residential