Goodman Real Estate

What Goodman Real Estate does

Goodman Real Estate (legal name: Goodman Real Estate, Inc.) is a privately held, vertically integrated multifamily real estate investment firm headquartered in Seattle, Washington, founded in 1980 by John Goodman. The firm operates as a family office, co-investing its own capital alongside institutional and family office partners, and targets middle-market multifamily properties valued between $25 million and $250 million. Its portfolio spans more than 350 properties and 10,000+ residential units across nearly two dozen U.S. states, with concentration in Washington, Arizona, Texas, and California, and managed assets valued at more than $3.2 billion.

The firm's core offering is a vertically integrated platform comprising acquisition, asset management, property management (via wholly-owned subsidiary GRE Management), development, and family office capital services. Distribution is driven by long-standing broker relationships (CBRE, Marcus & Millichap's Institutional Property Advisors, Kidder Mathews) and direct investor outreach through its Capital Investments division under Johnny Goodman. The firm also operates a Sharefile-based GRE Investor Portal for fund investor reporting and uses an Agora Real portal for GRE Fund Investors. Customers are institutional investors, family offices, and private equity partners seeking co-investment exposure to multifamily real estate with full alignment through co-investment of firm capital.

The go-to-market model is sales-led and relationship-driven, with no consumer-facing distribution. Pricing is not publicly disclosed; revenue is generated through asset management fees, transaction fees on acquisitions and dispositions, and investment returns from co-invested capital. In 2025, the company completed over $1 billion in real estate transactions, including acquisitions totaling more than $660 million and dispositions of more than $600 million. The firm is presently led by CEO Kelli Jo Norris (effective January 1, 2026), succeeding George Petrie, who transitioned to Executive Chairman.

Name

Goodman Real Estate

Legal name

Goodman Real Estate, Inc.

Website

https://goodmanre.com

Company type

Private

Founded year

1980

Operating status

Operating

Headcount range

51–100 employees

Short description

Goodman Real Estate is a privately held, vertically integrated multifamily investment firm headquartered in Seattle, operating as a family office that acquires and manages middle-market properties ($25M-$250M) across roughly two dozen U.S. states with $3.2B+ in managed assets.

Ownership category

akta.pro rank

Product category

Multifamily Real Estate Investment

NAICS

Rental and Leasing Services (532), Real Estate Property Managers (53131), Other Activities Related to Real Estate (531390)

SIC

Real Estate Dealers (For Their Own Account) (6532), Real Estate (6500)

akta.pro primary industry

Commercial Real Estate Brokerage (Leasing & Sales) (FSAEAJAB)

akta.pro secondary industries

Capital Markets Advisory (Equity Placement, JV & Recapitalization) (BPAJABAL), Real Estate Debt & Mortgage Strategies (FSAAAKAC)

Keywords

• Multifamily real estate
• Property management services
• Real estate acquisitions
• Asset management services
• Family office investing

Headquarters

HQ city

Seattle

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Real Estate Investment Returns: Goodman Real Estate generates returns through acquisition, development, management, and sale of multifamily properties. The firm invests its own capital alongside partners, earning returns through property appreciation, rental income, and disposition profits. In 2025, the company completed over $1 billion in real estate transactions.
2. Asset Management Fees: As a vertically integrated platform, GRE earns management fees by overseeing the full lifecycle of investments from acquisition through property management operations via its GRE Management subsidiary.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Goodman Real Estate is a vertically integrated, middle-market multifamily real estate investment firm that acquires, owns, develops, and operates apartment communities. The firm invests alongside institutional investors, family offices, and private equity partners through discretionary funds and separately managed accounts, while providing in-house property management, asset management, and acquisition services.

Product overview

Goodman Real Estate is a vertically integrated multifamily real estate investment firm operating a platform-plus-services model. The core offering consists of a portfolio of named apartment communities across key U.S. markets (Seattle, Phoenix, Tacoma, Scottsdale, Redmond, Kent), supported by integrated services including acquisition, asset management, property management (via GRE Management), development, and family office capabilities. The firm offers a GRE Investor Portal for investor access. The portfolio spans Class A luxury properties (Biltmore at Camelback, Scottsdale on Main, Cru at Willows 124) and middle-market assets, with recent acquisitions focused on Phoenix-area properties and continued activity in the Pacific Northwest.

Differentiator

Problem solved

Functional benefit

Brands

• GRE Management: Property management division of Goodman Real Estate that maintains operational excellence across the portfolio
• IMPACT Program

Products and services

• Radia Apartment community owned and managed by Goodman Real Estate, part of their middle-market multifamily portfolio.
• Baldwyn Apartment community owned and managed by Goodman Real Estate, part of their middle-market multifamily portfolio.
• Scottsdale Grand Apartment community owned and managed by Goodman Real Estate, part of their middle-market multifamily portfolio.
• Scottsdale on Main Apartment community owned and managed by Goodman Real Estate, part of their middle-market multifamily portfolio.
• Skye at Mountain House Apartment community owned and managed by Goodman Real Estate, part of their middle-market multifamily portfolio.
• Cascade Ridge Apartment community owned and managed by Goodman Real Estate, part of their middle-market multifamily portfolio.
• ArtHouse Seattle Apartment community owned and managed by Goodman Real Estate, part of their middle-market multifamily portfolio.
• Town Deer Valley Apartments Apartment community owned and managed by Goodman Real Estate, part of their middle-market multifamily portfolio.
• Hidden Lake Apartment community owned and managed by Goodman Real Estate, part of their middle-market multifamily portfolio.
• El Camino Apartments Apartment community owned and managed by Goodman Real Estate, part of their middle-market multifamily portfolio.
• Vermillion Cliffs Apartment community owned and managed by Goodman Real Estate, part of their middle-market multifamily portfolio.
• GRE Management In-house property management service operating under Pinnacle Property Services, managing day-to-day operations of Goodman Real Estate-owned apartment communities.
• Acquisition Services Multifamily property acquisition service identifying, underwriting, and closing middle-market apartment investments for the firm's investment vehicles.
• Asset Management Asset management service overseeing portfolio performance, capital allocation, and investment strategy for owned apartment communities and investor capital.
• Family Office Services Investment and advisory services tailored for high-net-worth family offices, operating since 1980 with multi-generational wealth preservation focus.
• Development Real estate development service for ground-up and value-add multifamily projects within the firm's investment pipeline.
• GRE Investor Portal Online investor portal providing fund documents, quarterly capital calls, distribution notices, K-1s, and other investment reporting to limited partners and family office clients.

Quantifiable outcome

• Over $1 billion in real estate transactions completed in 2025
• +2 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered core.

• CBREcoreChannel Partner/ Reseller/ Distributor · 23 January 2026CBRE negotiated the sale of Biltmore at Camelback on behalf of Heitman and arranged financing for Goodman Real Estate. CBRE team included Asher Gunter, Matt Pesch, Sean Cunningham, and Austin Groen representing the seller, plus CBRE Debt & Structured Finance for buyer financing.
• Institutional Property AdvisorscoreChannel Partner/ Reseller/ DistributorInstitutional Property Advisors, a division of Marcus & Millichap, brokered the acquisition of Scottsdale on Main (119-unit luxury property). Steve Gebing and Cliff David facilitated the transaction.

Scale indicators8 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Essex Property Trust: Multifamily REIT concentrated on the U.S. West Coast (West LA, San Francisco, Seattle) — directly overlapping Goodman's Pacific Northwest focus and middle-market-to-institutional apartment strategy.
• AvalonBay Communities: Large-cap multifamily REIT with Class A apartment communities across high-growth coastal and Sun Belt markets — directly comparable apartment investment and operating model to Goodman.
• Equity Residential: Multifamily REIT focused on urban and high-density Class A apartment communities, including Seattle and other West Coast and Sun Belt gateway markets — comparable urban multifamily investment thesis.
• Mid-America Apartment Communities: Multifamily REIT concentrated across the Sun Belt, including Texas, Arizona, and Florida — closely aligned with Goodman's Phoenix/Scottsdale/Dallas expansion strategy.
• UDR Inc. Multifamily REIT operating Class A apartment communities across U.S. coastal and Sun Belt markets — directly comparable in property type, asset class, and geographic mix.
• Apartment Investment and Management Company (Aimco): Multifamily REIT with diversified portfolio of Class A and value-add apartment communities — comparable multifamily owner/operator with co-investment and asset management activities.

Broad incumbents

• CBRE Group: Largest global commercial real estate services firm, providing investment sales, debt origination, and capital markets advisory — both a competitor in CRE advisory and a key broker/capital partner for Goodman transactions.
• JLL (Jones Lang LaSalle): Global real estate services and investment management firm offering multifamily investment sales, capital markets, and property management — overlapping capabilities to Goodman's vertically integrated platform at much larger scale.
• Heitman Capital Management: Global real estate investment manager with $48B AUM that transacted directly with Goodman (seller of Biltmore at Camelback) — comparable institutional real estate investment manager with multifamily focus.
• Blackstone Real Estate: World's largest real estate private equity investor through BREIT and opportunity funds — competing institutional capital source for large multifamily acquisitions and a benchmark for scaled vertically integrated real estate investing.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/GoodmanRealEstateInc
• LinkedInlinkedin.com/company/goodman-real-estate
• Instagraminstagram.com/goodmanrealestate/?hl=en

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries2 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 Goodman Real Estate