JMA Ventures

What JMA Ventures does

JMA Ventures is a full-service commercial real estate development and investment firm headquartered in San Francisco, founded in 1986 as a California LLC. The firm operates a horizontal platform spanning acquisition, asset management, development and construction management, hotel management, debt and structured financing, operations management, sales and marketing, and leasing services. Its portfolio covers hospitality (Kimpton, Hilton Curio, Fairmont, Marriott, Aloft, DoubleTree branded assets), residential (Class A multifamily and luxury condos), mixed-use (1M+ SF urban projects anchored by sports/entertainment facilities), resort/marina operations, and restaurant real estate, with active investments in California, Nevada, Colorado, Montana, Arizona, Florida, Spokane, and Saint Lucia.

The business model is a principal-investment and asset management model: JMA identifies undervalued or off-market assets through proprietary relationship-driven deal sourcing, often secures favorable deal structures (e.g., zero-property-tax ground leases, adaptive re-use of historic landmarks, Qualified Opportunity Zone theses), partners with institutional capital and high-net-worth investors, and operates assets either directly or via best-in-class operators including Turner Construction, Skidmore Owings & Merrill, Roman & Williams, Greystar, and Aimbridge. Revenue mechanics comprise development/construction fees, asset management fees on the active ~20-project portfolio, and episodic realization events such as the Aloft Reno recapitalization that delivered 4x gross returns on investor equity and the ANC Portfolio exit at $329/SF versus a $200/SF acquisition basis. Investor relations are managed through a Juniper Square investor portal.

Customer concentration is centered on institutional capital partners and high-net-worth investors seeking risk-adjusted returns in supply-constrained U.S. markets. JMA employs 11-50 people across offices in San Francisco (headquarters), Sacramento, Santa Monica, and Truckee, supported by a partner-led leadership team (Todd Chapman as Managing Partner & CEO alongside partners Paul Faries, Kevin Morgan, and Jan Smidek) and specialized functional staff across investments, construction, accounting, and asset management. The firm has executed more than 50 transactions cumulatively and does not pursue a technology platform strategy—its competitive position is grounded in relationships, deal structuring expertise, conservative underwriting, and execution discipline rather than software or AI-driven advantage.

Name

JMA Ventures

Legal name

JMA Ventures, LLC

Website

https://jmaventuresllc.com

Company type

Private

Founded year

1986

Operating status

Operating

Headcount range

11–50 employees

Short description

Full-service commercial real estate development and investment firm headquartered in San Francisco, founded in 1986, operating across hospitality, resort, residential, retail, office, and mixed-use asset classes with institutional capital partners and high-net-worth investors.

Ownership category

akta.pro rank

Product category

Commercial Real Estate Development

NAICS

Portfolio Management and Investment Advice (523940), All Other Financial Investment Activities (52399)

SIC

Land Subdividers & Developers (No Cemeteries) (6552), Real Estate Dealers (For Their Own Account) (6532)

akta.pro primary industry

Real Estate Funds — Opportunistic / Development (FSANAEAI)

akta.pro secondary industry

Capital Markets Advisory (Equity Placement, JV & Recapitalization) (BPAJABAL)

Keywords

• Commercial real estate development
• Real estate investment management
• Hospitality asset management
• Mixed-use development
• Resort property development

Headquarters

HQ city

San Francisco

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Real Estate Development and Investment Management: JMA generates revenue through real estate development, acquisition, and investment management services. The firm acquires and develops commercial properties across hospitality, resort, residential, retail, office and commercial sectors, with a focus on delivering compelling real estate transactions with high risk-adjusted market returns and long-term value for capital partners.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

JMA Ventures is a full-service commercial real estate development and investment firm that identifies, acquires, develops, repositions, and asset-manages hospitality, mixed-use, residential, and resort properties. The firm sources capital from institutional investors, family offices, and high-net-worth individuals as a sponsor on individual transactions and through managed investment vehicles. It manages more than $3 billion of real estate across hotel, office, residential, and resort asset classes.

Product overview

JMA Ventures is a full-service commercial real estate development and investment firm (not a technology product company). The company operates a portfolio of diverse real estate assets including: hospitality properties (hotels and resorts across brands like Kimpton, Fairmont, Hilton Curio Collection, Aloft, DoubleTree, and Marriott), residential developments (multifamily apartments and luxury condos), marina operations (boat storage and services), ski resort properties (mountains and lakefront clubs), mixed-use developments (large-scale urban projects), and restaurant venues. The portfolio spans over 50 transactions executed and 20 additional projects, with properties located across California, Nevada, Colorado, Montana, Florida, and Saint Lucia.

Differentiator

Problem solved

Functional benefit

Products and services

• Westcourt Orlando (mixed-use development) Mixed-use development in Downtown Orlando that JMA assumed entitled ownership of and is underwriting for development, subject to underwriting approvals.
• Downtown Commons (DoCo) Sacramento Mixed-use development in the Golden 1 Center/DoCo district in Sacramento combining hotel, retail, and residential uses with leasing activity in office space.
• Kimpton Sawyer Hotel & Residences Branded hotel and for-sale residential development in the DoCo district of Sacramento, with 230 hotel keys and 45 residential units.
• Fairmont Heritage Place Ghirardelli Square Branded residential and hotel asset in San Francisco's Ghirardelli Square held as a long-term investment with a recently refinanced loan.
• Hearst Hotel development Future ground-up hotel development in San Francisco near the Hearst building, with construction scheduled to begin in 2026.
• Hayes Mansion San Jose Recently developed and sold hotel property in San Jose acquired, repositioned, and divested by JMA Ventures.
• Aloft Reno-Tahoe Hotel asset in Reno, Nevada acquired in 2018 and opened in 2020, producing realized gross returns in excess of 4x.
• DoubleTree by Hilton Hotel Spokane City Center 261-room hotel in downtown Spokane acquired by JMA in December 2024 for renovation and repositioning.
• Avon SpringHill Suites / TownPlace Suites New select-service hotel development in Avon, Colorado, opening in 2024 with 120 keys across two brands (SpringHill Suites and TownPlace Suites by Marriott).
• Zoetry Marigot Bay Resort & Marina Resort property in St. Lucia acquired by JMA Ventures in 2021 and repositioned under the Zoetry brand.
• The Battery San Francisco Approximately 200,000-square-foot Class A office building in San Francisco subject to a lease assumption/repurchase transaction with the existing tenant.
• Homewood Mountain & Lake Club Master-planned mountain resort on the west shore of Lake Tahoe being developed by JMA Ventures with phased hotel, residential, and amenities planned over multiple phases.
• Real Estate Investment Management Services Asset management, investment management, and capital partner services provided to institutional, family-office, and high-net-worth investors across JMA's real estate portfolio.

Quantifiable outcome

• 4x gross returns on investor equity (Aloft Reno recapitalization)
• +3 more outcomes

Segments2 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

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

• Sacramento KingscoreStrategic or Co-development PartnerJoint venture partnership for Downtown Commons (DoCo) development surrounding Golden 1 Center. JMA served as master developer for the entertainment sports complex and mixed-use components, working with the Kings to create an ecosystem including arena, practice facilities, Class-A office headquarters, merchandise stores, and ancillary uses.
• Hearst CorporationcoreStrategic or Co-development PartnerGround lease partnership for Hearst Hotel redevelopment project. JMA negotiated a long-term ground lease with Hearst Corporation for the transformational adaptive re-use of the iconic Hearst Building into a 113-key premier luxury hotel in downtown San Francisco.
• Discovery Land CompanycoreStrategic or Co-development PartnerPartnership with Discovery Land Company for the Homewood Mountain & Lake Club development. JMA completed multi-agency entitlement process and lakefront assemblage enabling pivot to a residential resort community in partnership with Discovery Land Company.
• Turner Construction CompanymajorImplementation/ SI/ Consulting PartnerTurner Construction Company was selected by JMA Ventures as the general contractor for Westcourt Orlando, a $500 million mixed-use development adjacent to the Kia Center in downtown Orlando. The 900,000-square-foot project will feature Kimpton hotel, high-rise residential units, Class A office space, retail, and live entertainment venue.
• Build Inc.majorStrategic or Co-development PartnerJMA and its partner Build Inc. were selected by the Hearst Corporation as the optionee for 45 Third Street project after a highly competitive RFP process involving some of the largest tower developers in the nation.
• Skidmore Owings & MerrillmajorTechnology or IntegrationInternational design firm engaged by JMA for 45 Third Street project concept, programming and design development.
• KimptonmajorChannel Partner/ Reseller/ DistributorKimpton Sawyer Hotel partnership - JMA delivered hotel partnership with national hotel operator Kimpton for Downtown Commons project, positioning the hotel as Downtown Sacramento's rate and luxury leader.
• KimptonmajorChannel Partner/ Reseller/ DistributorKimpton hotel component as part of Westcourt Orlando mixed-use development featuring outdoor lounge, pool deck, marquee restaurant, and 16,000 square feet of meeting space.
• Curio Collection by HiltonmajorChannel Partner/ Reseller/ DistributorHayes Mansion repositioning partnership with Curio Collection by Hilton and Aimbridge for operational management. Sourced accretive contract to increase demand from higher-rated travelers and business segments.
• AimbridgemajorChannel Partner/ Reseller/ DistributorPartnership with Aimbridge to bring institutional management and operational efficiencies to Hayes Mansion property during repositioning.
• GreystarmajorChannel Partner/ Reseller/ DistributorBest-in-class management team procurement for The Battery Phoenix multifamily project. Greystar oversaw successful lease-up of the 278-unit Class A multifamily project.
• Pat KuletomajorStrategic or Co-development PartnerPartnership with restaurateur Pat Kuleto for development of Waterbar & Epic Steak restaurants at iconic San Francisco waterfront location. JMA negotiated long-term lease with exceptional restaurant group.
• FairmontmajorChannel Partner/ Reseller/ DistributorFairmont sourced and negotiated as the brand and manager for Fairmont Heritage Place Ghirardelli Square 54-unit fractional hotel project. Fairmont Heritage Place opened in 2008 as Fairmont's first urban private residence club.
• Superior Boat Repair & SalesminorStrategic or Co-development PartnerBoat sales partner at Homewood High & Dry Marina featuring Nautique ski/surf/recreational boats and Barletta pontoons. Partnership extended to bringing world's first 100% electric watersport boat (Nautique GS22E) to Lake Tahoe.
• High Sierra Waterski School and SWA WatersportsminorStrategic or Co-development PartnerBoat rental partners providing public opportunity to get out on the water from Homewood Marina's harbor.
• AMR CollectionmajorChannel Partner/ Reseller/ DistributorZoetry Marigot Bay all-inclusive luxury resort partnership. JMA engaged AMR Collection with proven Caribbean and Latin America experience, investing significant capital to upgrade the resort experience and bring performance in-line with comparable destinations.
• Reno-Tahoe Airport AuthoritymajorStrategic or Co-development PartnerGround lease opportunity sourced through the Reno-Tahoe Airport Authority with development option for adjacent land. Negotiated accretive ground lease featuring zero property tax.
• RA NelsonmajorImplementation/ SI/ Consulting PartnerLocal general contractor engaged for Avon Springhill/Townplace Suites dual-branded Marriott hotel development. Secured guaranteed maximum price contract with RA Nelson during volatile post-pandemic construction market.
• Hardison DowneymajorImplementation/ SI/ Consulting PartnerGeneral contractor for The Battery Phoenix project. Favorable GMP contract secured despite volatile construction market during COVID-19 impacts.
• Roman & WilliamscoreTechnology or IntegrationDesign engagement for Hearst Hotel reflecting commitment to creating one-of-a-kind hospitality experience combining curated historic elements with modern luxury design.

Scale indicators10 records

Recent moves6 records

Expansion highlights6 records

Market position

Competitive moat4 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/jma-ventures
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• Facebookfacebook.com/jmaventuresllc

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

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 JMA Ventures