What Eenhoorn does

Eenhoorn LLC is a privately held, family-controlled real estate investment and property management company headquartered in Grand Rapids, Michigan, founded in 1988 by F.F. Carl Heule and Paulus C. Heule. The company pursues opportunistic, countercyclical acquisitions of multifamily and commercial properties using patient family capital, holding 120+ assets across 13+ U.S. states and the Netherlands, and also provides third-party property management services to institutional owners, government housing authorities, and individual investors. Its portfolio spans luxury high-rise Class A apartments, garden-style apartments, affordable/tax-credit housing, independent senior housing, and student housing, with deep specialization in affordable housing regulatory compliance (Tax Credit, Mandatory Inclusionary Housing, tax-exempt bonds). The company is led by CEO Paulus C. Heule following his father and co-founder's death in 2012, and remains closely held with no disclosed external institutional investment.

The operating platform combines direct property investment returns with fee-based management services. Technology consists of an online resident portal for rent payment and maintenance requests, a property listing syndication network feeding national ILS and hyperlocal sites, an online affordability compliance portal for Tax Credit reporting, and an in-house digital marketing function. Go-to-market is sales-led and relationship-driven: the company sources deals through industry relationships and senior management outreach, manages its own portfolio as a proof-of-capability showcase, and expands into adjacent markets (e.g., 2020 Miami Beach acquisition of 80 garden-level units, 2024 Carlton Lofts partnership with Community Rebuilders for 40 micro-units of supportive housing). Revenue streams include rental income from owned assets, third-party property management fees, financial management services (capital planning, insurance, mortgage brokerage, bond structure management), project management fees for renovations and tenant fit-outs, and development returns such as the $30M Dreamtroit affiliate investment in Detroit.

Eenhoorn has built a sustained employee and sustainability brand — consecutive Best Places to Work in Multifamily rankings (2024, 2025 #13, 2026 #2 nationally), Arbor Day Foundation partnership planting 57,410+ trees, community gardens across four states, and energy-efficiency upgrades (e.g., 88,427 kWh saved at Pineridge Apartments). Long-tenured institutional relationships (Battle Creek Housing Commission since 1997) and a countercyclical acquisition philosophy characterize the operating model, while absence of public financial disclosure and external capital raises reflects a deliberately low-profile, long-horizon ownership structure.

Name

Eenhoorn

Legal name

Eenhoorn LLC

Website

https://eenhoorn.com

Company type

Private

Founded year

1988

Operating status

Operating

Headcount range

101–250 employees

Short description

Eenhoorn is a privately held, family-controlled real estate investment and property management company that owns and manages 120+ multifamily and commercial properties across 13+ U.S. states and the Netherlands, while providing third-party property management to institutional owners, government housing authorities, and individual investors.

Ownership category

akta.pro rank

Product category

Multifamily Property Management

NAICS

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

SIC

Real Estate Agents & Managers (For Others) (6531), Real Estate Dealers (For Their Own Account) (6532), Real Estate (6500)

akta.pro primary industry

Residential Real Estate Asset Management (BPAJAMAA)

akta.pro secondary industries

Multifamily & Student Housing Asset Management (BPAJAMAD), Residential Investment Property Brokerage (SFR/Small Multifamily) (BPAJAAAE)

Keywords

• Multifamily property management
• Real estate investment
• Affordable housing compliance
• Residential leasing services
• Commercial property management

Headquarters

HQ city

Grand Rapids

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Property Management Fees: Eenhoorn generates revenue through property management fees charged to property owners and investors. Services include residential portfolio management ranging from high-rise Class A apartments to garden style apartments, affordable housing, independent senior housing, and student properties.
2. Real Estate Investment Returns: As a privately held real estate investment and management company, Eenhoorn generates returns through appreciation and income from its own portfolio of over 120 multi-family and commercial properties across the US and Netherlands.
3. Financial Management Services: Revenue from providing financial management services including long-term capital planning, insurance services, mortgage brokerage services, and bond structure management for property owners.
4. Project Management Services: Fees from project management services for residential properties, retail spaces, commercial spaces, and mixed-use properties including tenant fit-outs and large-scale renovations.

Go-to-market motion3 records

Distribution channels3 records

Marketing channels7 records

Core offering

Eenhoorn is a real estate investment and property management company that owns and operates a portfolio of more than 120 multi-family and commercial properties across the U.S. and the Netherlands. The company provides third-party property management, financial management, leasing and marketing, project management, and affordable housing compliance services to property owners, institutional investors, REITs, and government housing authorities. Its integrated investment-to-management platform supports opportunistic acquisitions, ground-up development, repositioning, and ongoing operations of residential and commercial assets.

Product overview

Eenhoorn is a real estate investment and property management company offering a comprehensive, integrated platform for managing residential and commercial properties. The core offering is Property Management services, supported by a suite of complementary modules including Online Tools/Resident Portal for digital tenant services, Financial Management for capital planning and insurance, Affordable Housing Compliance for tax credit regulatory adherence, Marketing Solutions for branding and digital media, Leasing and Sales for property transactions, and Project Management for development and renovations. The company manages a diverse portfolio spanning luxury high-rise Class A apartments, garden-style apartments, student housing, senior housing, and affordable housing across the U.S. and Netherlands.

Differentiator

Problem solved

Functional benefit

Products and services

• Property Management Comprehensive residential and commercial property management covering Class A high-rise apartments, garden-style apartments, student housing, independent senior housing, and affordable housing communities, delivered to property owners and institutional investors across the U.S. and the Netherlands.
• Financial Management Services

Quantifiable outcome

• Mini-split HVAC systems saved approximately 88,427 kWh of electric consumption year over year at Pineridge Apartments
• +4 more outcomes

Named customers2 records

Segments6 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Six partnerships are on record, tiered minor and core.

• San Antonio Food BankminorGTM or Marketing Partner · 1 January 2025Eenhoorn's Texas communities partnered with the San Antonio Food Bank during Community Outreach Week, with team members volunteering to sort, pack, and prepare food for distribution to local families in need.
• Community RebuilderscoreStrategic or Co-development Partner · 1 April 2024Eenhoorn partnered with Community Rebuilders (a nonprofit committed to ending homelessness) on Carlton Lofts, a groundbreaking initiative providing supportive housing for unhoused individuals in Grand Rapids, Michigan. The development transformed the former Van Andel Pavilion at Fulton Manor into 40 micro apartments with social services. This collaboration addresses critical community needs through housing-focused approaches.
• West Michigan Sustainable Business ForumminorStrategic or Co-development Partner · 1 January 2023Eenhoorn became a member of the West Michigan Sustainable Business Forum, joining a community of sustainability-focused businesses including Amway, Bissell, Blandford Nature Center, and Calvin University. The WMSBF promotes business practices that advance climate leadership, community resilience, social justice, and circular economy.
• 11 Nonprofit Organizations (National Outreach Week)minorGTM or Marketing Partner · 1 January 2023During National Outreach Week 2023, employees volunteered at 11 different organizations including beach clean-ups in Southern California and Miami Beach, nature trail restoration, and native species planting. Total of 123 employees participated for 399 workday hours.
• Arbor Day FoundationcoreStrategic or Co-development Partner · 1 February 2021Eenhoorn partners with the Arbor Day Foundation to plant trees for every approved apartment application. Five trees are planted for each approved application through large-scale reforestation projects across the United States. As of 2025, over 50,000 trees have been planted through this partnership. The collaboration supports the Arbor Day Foundation's mission to inspire people to plant, nurture, and celebrate trees.
• Battle Creek Housing CommissioncoreImplementation/ SI/ Consulting Partner · 1 January 1997Eenhoorn has maintained a longstanding relationship with the Battle Creek Housing Commission since 1997, providing comprehensive property management including administration of affordability programs, guidance on property acquisitions and financing strategies, tax-exempt bond offerings management, and ongoing regulatory compliance.

Scale indicators5 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• WinnCompanies: Multifamily owner and third-party manager with deep affordable housing expertise, including LIHTC and tax-exempt bond compliance. Closely comparable to Eenhoorn on affordable housing specialization and public-sector (housing authority) relationships.
• Greystar Real Estate Partners: Largest U.S. multifamily property manager and investment firm with a similar owner-operator-plus-third-party platform spanning Class A, affordable, and student housing. Directly comparable on integrated investment/management model, scale (300,000+ units), and asset-class breadth.
• FPI Management: Multifamily property management firm serving conventional, affordable, and student housing for institutional owners. Comparable to Eenhoorn on third-party management focus across similar product types and geographies.
• Bell Partners: Vertically integrated multifamily owner-operator with both an owned portfolio and third-party management business across conventional and affordable housing. Comparable to Eenhoorn on dual ownership/management structure and segment mix.
• RPM Living: National multifamily property management firm covering conventional, affordable, and student housing for institutional and private owners. Comparable to Eenhoorn's third-party management offering and segmented property mix.
• Bozzuto Group: Privately held real estate firm involved in multifamily investment, development, and property management with strong Class A urban presence. Comparable to Eenhoorn on integrated owner-manager model and Class A / luxury multifamily focus.
• Asset Living: Top-five U.S. multifamily third-party manager providing property management, asset management, and resident services across conventional, affordable, and student housing. Directly comparable on fee-based management scale and segment breadth to Eenhoorn.
• Lincoln Property Company: Vertically integrated multifamily owner/operator with a sizable third-party management arm covering conventional, affordable, and student housing across the U.S. Comparable on investment + fee-based property management services and broad product mix.

Broad incumbents

• Cushman & Wakefield: Global commercial real estate services firm with a multifamily property management arm. Overlaps with Eenhoorn on third-party property management services and integrated real estate services, though operates across broader property classes (office, industrial, retail).
• MAA (Mid-America Apartment Communities): Public multifamily REIT that owns and self-manages a large Sun Belt apartment portfolio, including some Class A properties. Comparable on owner-operator model and concentration of multifamily assets in similar geographies (Texas, Georgia, Florida).

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xtwitter.com/EenhoornLlc
• Facebookfacebook.com/EenhoornHR
• Instagraminstagram.com/live_eenhoorn
• Pinterestpinterest.com/eenhoornapts/_saved

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 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 Eenhoorn