North American Properties

What North American Properties does

North American Properties is a privately held, Cincinnati-based commercial real estate development, management, and investment firm founded in 1954, operating under Williams Family ownership since at least 1966. The company develops, manages, and invests across a diversified mix of asset classes—multifamily, student housing, mixed-use spaces, retail and grocery-anchored shopping centers, hotels, offices, and condominiums—with operational scale across Ohio, Florida, Georgia, New York, Kansas, and Texas. NAP operates through four regional offices (Cincinnati headquarters, Dallas/Ft. Worth, Ft. Myers, Space Coast/Melbourne, FL) and has built notable specialization in Florida Publix-anchored retail centers (25 centers developed, 3.8M+ square feet, ~300 acres entitled under the Ft. Myers office).

The firm employs a "capital-first" investment approach, deploying its own equity before syndicating institutional partners such as Blackstone, JP Morgan, Goldman Sachs, Morgan Stanley, CBRE, Heitman, PGIM, Nuveen, and Taconic Partners onto specific projects. Revenue is generated through development fees on one-time projects, recurring property management across an owned portfolio of residential and commercial assets, and equity returns on a diversified portfolio of operating company investments including Skyline Chili (full acquisition completed 2023), Nehemiah Manufacturing, Eleeo Brands, Struxtion, Last Mile Investments, and a minority stake in the Cincinnati Reds. Pricing is project-specific and quote-based; residential units are leased monthly, and commercial space is leased by square footage.

The property portfolio includes dozens of named developments such as Ridge Hill (1.2M sq ft retail, Yonkers NY, JV with Nuveen/Taconic), Encore Urban Living (17-story urban residential, Cincinnati), The Eden (student housing), One41 Wellington, Olde Montgomery, Avenue East Cobb, and Westgate Market. Recent strategic activity (2021–2024) includes the Ridge Hill JV (May 2022), the value-add acquisition of The Forum in Ft. Myers (March 2023), and the divestiture of the Atlanta-based subsidiary to Jamestown (October 2024), alongside leadership transitions (Dick Williams named President September 2022; Kim Jostworth CFO September 2023, COO of North American Ventures June 2026).

Name

North American Properties

Legal name

North American Properties

Website

https://naproperties.com

Company type

Private

Founded year

1954

Operating status

Operating

Headcount range

251–500 employees

Short description

North American Properties is a privately held, Cincinnati-based commercial real estate firm founded in 1954 that develops, manages, and invests in multifamily, student housing, mixed-use, and grocery-anchored retail properties across six U.S. states under Williams Family ownership.

Ownership category

akta.pro rank

Product category

Commercial Real Estate Development

NAICS

Real Estate Property Managers (53131), Residential Property Managers (531311), Rental and Leasing Services (532), Offices of Real Estate Agents and Brokers (5312)

SIC

Real Estate (6500), Real Estate Agents & Managers (For Others) (6531), Land Subdividers & Developers (No Cemeteries) (6552)

akta.pro primary industry

Residential Real Estate Asset Management (BPAJAMAA)

akta.pro secondary industries

Real Estate M&A / Joint Venture Advisory (Platform Deals, Partnerships) (BPAJANAF), Commercial Real Estate Brokerage (Leasing & Sales) (FSAEAJAB)

Keywords

• Commercial real estate development
• Multifamily property management
• Mixed-use development
• Grocery-anchored retail centers
• Real estate investment

Headquarters

HQ city

Cincinnati

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Marketing or Sales, Infrastructure

Revenue model

1. Real Estate Development: Developing multifamily, student housing, mixed-use spaces, retail and grocery-anchored shopping centers, hotels, offices, and condominium developments across the United States
2. Property Management: Managing owned real estate assets including apartments, retail centers, and other commercial properties
3. Real Estate Investment: Investing capital alongside institutional partners in real estate projects and portfolio companies
4. Portfolio Company Investments: Diversified investments in portfolio companies including Last Mile Investments, Struxtion, Eleeo brands, and Nehemiah Manufacturing, often from inception

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

North American Properties is a Cincinnati-based commercial real estate developer, owner, and manager founded in 1954. The firm develops, invests in, and operates multifamily, student housing, mixed-use, grocery-anchored retail, hotel, office, and condominium properties, and supplements this real estate activity with portfolio equity investments in operating companies such as Skyline Chili, the Cincinnati Reds, and Nehemiah Manufacturing.

Product overview

North American Properties is a real estate development, management, and investment company founded in 1954. The company operates a diverse portfolio of properties across the United States including multifamily and student housing, mixed-use spaces, retail and grocery-anchored shopping centers, hotels, offices, and condominium developments. Their property portfolio includes branded residential communities (Encore Urban Living, The Eden, Olde Montgomery, One41 Wellington), retail centers (Ridge Hill, Avenue East Cobb, Westgate Market), and various Publix-anchored shopping centers throughout Florida. Beyond traditional real estate, North American Properties has diversified by investing in and partnering with portfolio companies including the Cincinnati Reds, Skyline Chili, Last Mile Investments, Struxtion, Eleeo Brands, and Nehemiah Manufacturing. The company maintains offices in Cincinnati, Dallas, Ft. Myers, and Space Coast (Melbourne), Florida.

Differentiator

Problem solved

Functional benefit

Brands

• Last Mile Investments: Real estate investment platform providing high net worth investors opportunities from 70+ years of real estate investing experience, designed to deliver safe, outsized yield with significant upside.
• Skyline Chili
• Nehemiah Manufacturing
• Eleeo Brands
• Struxtion
• NAPCON

Products and services

• Multifamily Residential Properties Owns, develops, and operates purpose-built multifamily rental communities in select U.S. growth markets, leasing units to individual residents in walkable, amenitized locations.
• Student Housing Properties Develops, owns, and operates purpose-built student housing near major universities, offering furnished units and amenity-rich living environments to undergraduate and graduate student renters.
• Mixed-Use Developments Develops and operates mixed-use destinations combining retail, restaurant, office, residential, and hotel uses into a single walkable environment for consumers, tenants, and residents.
• Grocery-Anchored Shopping Centers Develops, owns, and operates grocery-anchored neighborhood and community shopping centers leased to national and regional retail, restaurant, and service tenants.
• Hotel Developments Develops and invests in hotel properties that complement the firm's mixed-use and standalone real estate strategy, generating lodging revenue from overnight guests and group bookings.
• Office Properties Develops, owns, and leases office properties as components of mixed-use destinations and standalone office investments, serving corporate and professional tenants.
• Condominium Developments Develops and sells for-sale residential condominium units within select mixed-use and urban infill projects, targeting individual owner-occupants and second-home buyers.
• Portfolio Equity Investments Holds minority equity positions in operating companies across food service, professional sports, consumer brands, infrastructure, and manufacturing, generating investment income alongside the core real estate business.
• Institutional Capital Partnerships Structures and manages institutional equity joint ventures on a deal-by-deal basis, allowing capital partners to co-invest alongside the firm in individual real estate developments.

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Seven partnerships are on record, tiered core and major.

• Taconic PartnerscoreStrategic or Co-development Partner · 9 May 2022Taconic Partners co-invested with Nuveen and NAP to acquire Ridge Hill Shopping Center, forming a joint venture for this significant retail asset
• 3CDC (Cincinnati Center City Development Corp)majorStrategic or Co-development PartnerCo-developer of Encore Urban Living project in Cincinnati. 3CDC operates the parking garage at the property and is a key downtown development partner
• Northpointe CompanymajorStrategic or Co-development PartnerCo-developer partner on Encore Urban Living project in Cincinnati
• NeyermajorStrategic or Co-development PartnerArchitecture and design partner for Encore Urban Living project
• Johnsenhauser ArchitectsmajorStrategic or Co-development PartnerArchitecture firm for Encore Urban Living project, designed with early 20th century industrial architecture aesthetic reference
• DrapermajorStrategic or Co-development PartnerDraper acquired property from NAP for expansion in Titusville, Florida. NAP to lead development of high-tech aerospace and defense campus
• JamestowncoreChannel Partner/ Reseller/ DistributorJamestown acquired NAP's Atlanta-based subsidiary and manages retail leasing for Ridge Hill and other commercial properties

Scale indicators11 records

Recent moves8 records

Expansion highlights5 records

Broad incumbents

• The Howard Hughes Corporation: Public master-planned community and mixed-use developer operating large-scale retail, residential, and office assets. Comparable in mixed-use development strategy and long-duration community-building approach.
• Phillips Edison & Company: Public REIT focused on grocery-anchored shopping centers. Comparable tenant mix and center format to NAP's Publix-anchored Florida portfolio, though at larger public-company scale.
• Forest City Realty Trust (Brookfield): Legacy mixed-use developer (now part of Brookfield) with comparable mixed-use, multifamily, and retail development capabilities. Useful benchmark for institutional-scale mixed-use development.
• Regency Centers: Public REIT that owns and operates grocery-anchored shopping centers, with deep Florida and Sun Belt exposure — directly comparable to NAP's Publix-anchored Florida portfolio thesis.
• The Related Companies: Large-scale national developer of mixed-use, multifamily, and retail properties (e.g., Hudson Yards, CityPlace). Comparable diversified asset-class strategy though much larger in scale.
• Federal Realty Investment Trust: Public REIT focused on grocery-anchored mixed-use shopping centers and walkable urban districts. Directly comparable to NAP's mixed-use and grocery-anchored portfolio strategy, with a much larger public capital base.
• Brixmor Property Group: Public open-air shopping center owner/operator with comparable grocery-anchored retail exposure and Sun Belt footprint. Larger and publicly traded but business model overlaps NAP's retail asset management.

Direct peers

• Steiner + Associates: Cincinnati-based mixed-use real estate developer and operator with a comparable focus on retail-anchored, multifamily, and mixed-use urban projects across the Midwest and Southeast. Highly comparable in scale, business model (develop/manage/invest), and regional concentration.
• Crosland: Privately held, Charlotte-based real estate developer active across the Carolinas and Southeast in mixed-use, multifamily, retail, and master-planned communities. Closely comparable regional developer with similar capital partner model.
• Jamestown: Private real estate investment and management firm specializing in mixed-use and retail assets; recently acquired NAP's Atlanta subsidiary in October 2024, making it both a former acquirer and an active peer in retail/mixed-use operations.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/north-american-properties
• Xx.com/NAP1954

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Subsidiaries9 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 North American Properties