What LaTerra Development does

LaTerra Development is a privately-held real estate investment management and development company founded in 2009 and headquartered in Marina Del Rey, California. The company operates a vertically integrated platform spanning property acquisition, development, construction (via wholly-owned general contractor LT Building Corp.), and ongoing asset management, with a specialized focus on Class A multifamily residential and self-storage assets in urban infill markets. As of 2026, the portfolio includes more than 4,500 multifamily units and over 1.5 million square feet of self-storage properties, representing a stabilized value exceeding $3 billion. Notable projects include Intro Burbank (573+ units), the Charlie Collection in Santa Monica, LaTerra Select West Hollywood, and a recently completed $455 million, 7-property Chicago multifamily portfolio acquired from AIMCO.

The business model is institutional B2B: LaTerra manages more than $1.5 billion in committed project equity capital on behalf of investors across the United States, Canada, and Australia, generating revenue through joint venture equity structuring, development fees, asset management fees, and construction services. The company sources investment opportunities through its industry network and closes capital with repeat institutional partners including QuadReal ($250M JV), Macquarie Asset Management ($300M self-storage JV), PGIM ($144M financing), and Respark (Chicago JV). In 2022, LaTerra formalized its investment management function through LaTerra Capital Management and in 2024 launched its first rental fund — signals of a transition from a deal-by-deal JV model toward a more permanent-capital platform. Leadership is family-controlled, with founder and CEO Charles Tourtellotte joined by son Chris Tourtellotte (Managing Director) and senior executives including COOs Howard Heitner and Erik Svensson.

Name

LaTerra Development

Legal name

LaTerra Development, LLC

Website

https://laterradev.com

Company type

Private

Founded year

2009

Operating status

Operating

Headcount range

11–50 employees

Short description

LaTerra Development is a privately-held real estate investment manager and developer specializing in Class A multifamily and self-storage assets, managing over $1.5 billion in committed equity capital for institutional investors across the US, Canada, and Australia.

Ownership category

akta.pro rank

Headquarters

HQ city

Los Angeles

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Real Estate Development: Development of multifamily residential and self-storage properties for sale or hold strategy
2. Asset Management Services: Full spectrum real estate investment services including property acquisitions, development, construction oversight, and ongoing asset management on behalf of investors
3. Construction Services: Construction and development services through affiliated entity LT Building Corp.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels6 records

Core offering

LaTerra Development is a real estate investment management and development company that develops, acquires, and manages multifamily residential and self-storage properties on behalf of institutional investors. It sources opportunities through its industry network, performs acquisitions, development, construction (via affiliated LT Building Corp.), and ongoing asset management, managing more than $1.5B in committed project equity across the US, Canada, and Australia. Current portfolio includes more than 4,500 multifamily units and over 1.5 million square feet of self-storage space with a stabilized value exceeding $3 billion.

Product overview

LaTerra Development is a real estate investment management and development company specializing in multifamily residential and self-storage asset classes. The company operates through a platform model combining core development services with specialized investment management via LaTerra Capital Management. Its product portfolio includes multifamily developments (Intro Burbank, The Charlie Collection, LaTerra Select properties) and self-storage facilities, with over 4,500 multifamily units and 1.5M square feet of storage properties representing a portfolio value exceeding $3 billion at stabilization. The company manages $1.5B in committed project equity for investors across the US, Canada, and Australia.

Differentiator

Problem solved

Functional benefit

Products and services

• Multifamily Development Development of multifamily residential properties including apartments and townhomes in urban infill markets across California, Illinois, and other locations for institutional investors.
• Self-Storage Development Development and management of self-storage facilities through a dedicated self-storage platform including a joint venture with Macquarie Asset Management, with over 1.5M square feet of properties.
• Investment Management Services Operating partner platform providing full spectrum real estate investment services including property acquisitions, development, construction, and asset management for investors in the US, Canada, and Australia.
• LaTerra Capital Management Domestic and global investment management entity spearheading the company's investment management platform, managing over $1.5B in committed project equity capital.
• Construction Services (via LT Building Corp.) General contractor services provided by LaTerra's affiliated wholly-owned subsidiary LT Building Corp. for the construction of LaTerra development projects.

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Five partnerships are on record, tiered core, minor and major.

• ResparkcoreStrategic or Co-development Partner · 16 December 2025Joint venture partnership with Respark to acquire $455 million, 7-property multifamily portfolio in Chicago from AIMCO. Partnership announced December 2025 and completed April 2026.
• IntercontinentalminorStrategic or Co-development Partner · 11 September 2025LaTerra & Intercontinental acquired 100k sq. ft. self storage facility in Los Angeles area.
• H-E-BminorStrategic or Co-development Partner · 7 September 2024Partnership bringing first H-E-B store in Dallas County alongside LaTerra self-storage project in Irving, Texas.
• GemdalemajorStrategic or Co-development Partner · 20 May 2016LaTerra and Gemdale acquired world class site for joint development. Chinese real estate developer partnership.
• LT Building Corp.coreStrategic or Co-development PartnerAffiliated general contractor entity that provides construction services for LaTerra development projects.

Scale indicators9 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Wood Partners: National multifamily developer active across the West Coast and Sun Belt; directly comparable to LaTerra as a multifamily developer and investment manager, and notably a former employer of LaTerra's VP-Construction hire, signaling overlap in operating model and talent pool.
• Gables Residential: Privately held multifamily developer, owner, and operator focused on urban and transit-oriented infill communities in coastal markets, with a similar Class A urban infill investment thesis to LaTerra.
• Trammell Crow Residential: National multifamily development subsidiary of Crow Holdings, developing Class A rental communities across major US metros — a direct multifamily developer peer to LaTerra.
• Mill Creek Residential: Multifamily developer with a strong build-to-rent and urban infill focus across the Sun Belt and coastal markets; directly comparable to LaTerra's multifamily development business and build-to-rent projects like Bedrock at the Trails.

Broad incumbents

• Greystar Real Estate Partners: World's largest multifamily developer, operator, and investment manager with broad institutional capital relationships; competes with LaTerra for institutional capital and urban infill opportunities, though at much larger scale.
• Essex Property Trust: West Coast multifamily REIT owning and operating Class A urban infill apartments in California and the Pacific Northwest; closely comparable to LaTerra's West Coast multifamily strategy though operating as a perpetual REIT versus LaTerra's development/JV model.
• AIMCO: Multifamily REIT that recently sold a 7-property Chicago portfolio to LaTerra for $455M; comparable as a multifamily owner/investor in similar urban markets during a portfolio liquidation phase.
• UDR Inc. Public multifamily REIT with a national Class A urban and suburban portfolio; competes for institutional capital allocation and urban infill residents, though as a perpetual REIT operator rather than a developer.
• Camden Property Trust: Multifamily REIT with both owned portfolio and development capabilities, providing a public-market comparable to LaTerra's develop-and-hold multifamily strategy across Sun Belt and gateway markets.
• Public Storage: Largest US self-storage REIT; comparable to LaTerra's self-storage platform JV with Macquarie, and notably a former employer of an executive hired to bolster LaTerra's self-storage operations.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 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 LaTerra Development