What The Hallmark Companies does

The Hallmark Companies, Inc. is a privately held, vertically integrated multi-family housing firm headquartered in Atlanta, Georgia, that owns, manages, and develops affordable and conventional rental properties across seven southeastern US states (Alabama, Florida, Georgia, Mississippi, North Carolina, South Carolina, and Tennessee, plus Kentucky). Founded by Martin "Pete" Petersen, the company operates 300+ multi-family communities comprising approximately 14,250+ apartment units, of which 12,250+ are designated affordable, through four wholly owned subsidiaries: Hallmark Management and Sherwood Management Company (day-to-day property operations) and Hallmark Development Services (est. 2013) and Hallmark Development Partners (est. 2017) (preservation, acquisition, and ground-up development using LIHTC, USDA Rural Development, HUD, and HOME programs).

The operating platform runs on the RentCafe property management system powered by Yardi Systems, which handles applicant intake, online leasing, resident portals, and maintenance workflows. Hallmark's technology stack is otherwise standard for the sector, with no proprietary software development, APIs, or mobile applications disclosed. The firm reports that 4,500+ units have been rehabilitated and preserved, and that President Billy Glisson has secured over $950 million in cumulative financing for multifamily acquisition and development projects.

Revenue is generated primarily from rental operations across the owned 14,250+-unit portfolio, supplemented by property management fees on third-party or affiliated assets and development-related fees tied to LIHTC and conventional projects. The investor-facing counterparty comprises equity partners seeking exposure to southeastern US multifamily real estate, with the firm reporting $500M+ in equity placed and a 14%+ average IRR across its portfolio—signals of an active capital raising and deployment cadence anchored in affordable housing preservation.

Name

The Hallmark Companies

Legal name

The Hallmark Companies, Inc.

Website

https://hallmarkco.com

Company type

Private

Founded year

1986

Operating status

Operating

Headcount range

251–500 employees

Short description

The Hallmark Companies is a vertically integrated multi-family housing firm that owns, manages, and develops 14,250+ apartment units across 300+ affordable and conventional communities in seven southeastern US states, operating through wholly owned property management and development subsidiaries.

Ownership category

akta.pro rank

Product category

Multi-Family Housing Management

SIC

Real Estate (6500)

akta.pro primary industry

HOA / Condominium Association Management (BPAJAFAH)

Keywords

• Multi-family housing
• Affordable housing
• Property management
• Real estate development
• Apartment management

Headquarters

HQ city

Atlanta

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Multi-family Property Rental Operations: Revenue generated from rental operations across 300+ multi-family communities comprising 14,250+ apartment units. Company operates as a vertically integrated owner, manager, and developer of multi-family housing properties.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

The Hallmark Companies is a vertically integrated multi-family housing firm that owns, manages, and develops affordable rental housing properties across the southeastern United States. The company oversees 300+ multi-family communities comprising 14,250+ apartment units (including 12,250+ affordable units) through its property management subsidiaries (Hallmark Management and Sherwood Management Company) and its development subsidiaries (Hallmark Development Services and Hallmark Development Partners), which specialize in LIHTC, USDA Rural Development, HUD, and HOME program-funded housing.

Product overview

The Hallmark Companies operates as a vertically integrated multi-family housing firm offering a unified platform of property management and development services. The core management operations are delivered through Hallmark Management and Sherwood Management Company, which collectively oversee day-to-day property operations, maintenance, compliance, and accounting across 300+ properties. Development activities are handled through Hallmark Development Services (established 2013) and Hallmark Development Partners (established 2017), which specialize in LIHTC financing, USDA Rural Development properties, and conventional development projects. The company manages approximately 14,250+ apartment units across the southeastern United States, with a focus on affordable housing preservation and development.

Differentiator

Problem solved

Functional benefit

Brands

• Hallmark Management: Property management services for affordable and rural housing overseeing day-to-day management, maintenance, compliance and accounting operations.
• Sherwood Management Company
• Hallmark Development Services
• Hallmark Development Partners

Products and services

• Hallmark Management Property management services for affordable and rural multi-family housing, overseeing day-to-day operations, maintenance, compliance, and accounting for the company's portfolio across seven states. Targeted at residents of affordable housing communities managed by The Hallmark Companies.
• Sherwood Management Company Comprehensive property management services supporting The Hallmark Companies' multi-family portfolio alongside Hallmark Management, handling day-to-day management and operational functions.
• Hallmark Development Services Acquisition, financing, development, and investment services for multi-family properties, specializing in preservation and renovation of existing affordable housing through LIHTC and USDA Rural Development programs. Targeted at multi-family real estate investors and stakeholders in the southeastern United States.
• Hallmark Development Partners LIHTC and conventional development project sourcing and structuring, handling upfront application preparation and submission for potential development projects throughout the southeastern United States. Has secured 21 LIHTC projects consisting of over 1,200 units since 2017.

Quantifiable outcome

• 14,250+ apartment units managed across 300+ communities
• +5 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators13 records

Recent moves8 records

Expansion highlights4 records

Direct peers

• The Michaels Organization: Vertically integrated affordable and market-rate multifamily owner, developer, and manager with national reach. Comparable in scale, LIHTC development pipeline, and integrated property management platform.
• WinnCompanies: Large multifamily owner, developer, and manager with significant affordable housing and military housing exposure. Comparable in vertical integration, LIHTC and HUD program expertise, and portfolio scale (tens of thousands of units).
• Conifer Realty: Affordable and mixed-income multifamily developer and manager operating primarily in the eastern US. Directly comparable in LIHTC-driven development, affordable housing focus, and regional operating model.
• Dominium: One of the largest US affordable housing owners/managers, with a heavy LIHTC focus across multiple states. Closely comparable business model of developing, acquiring, and managing affordable multifamily using tax credit programs.
• The NRP Group: Vertically integrated developer, owner, and manager of affordable and workforce multifamily housing. Directly comparable in LIHTC-driven development pipeline, resident services focus, and southern US geographic concentration.
• McCormack Baron Salazar: National affordable housing developer and manager specializing in LIHTC, mixed-income, and mixed-use developments. Comparable in mission-driven affordable housing development and vertically integrated development/management approach.

Emerging players

• RangeWater Real Estate: Southeast-focused multifamily developer and manager with growing portfolio. Comparable in southeastern US geographic focus and integrated development/management platform, though predominantly market-rate.

Broad incumbents

• The Related Companies: One of the largest US real estate developers with significant affordable and workforce housing through Related Affordable. Broader portfolio than Hallmark but directly comparable in LIHTC development and affordable housing operations.
• Bell Partners: Large multifamily owner/operator with national footprint. Comparable in multifamily property management scale, though Bell Partners is predominantly market-rate while Hallmark focuses on affordable.
• Bozzuto Group: Multifamily developer, owner, and manager with national reach including affordable housing components. Comparable in vertical integration model and multifamily scale, though Bozzuto's portfolio is more market-rate weighted.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about The Hallmark Companies