Royal American Management

What Royal American Management does

Royal American Management is a privately held, vertically integrated real estate company founded in 1968 and headquartered in Panama City, Florida. The company develops, constructs, and manages multifamily housing communities through three interconnected operating arms: Royal American Development (market identification, land acquisition, permitting, and affordable housing financing including HUD, LIHTC, and tax credit programs), Royal American Construction (building of multifamily, mixed-use, hospitality, and commercial projects with 140+ communities delivered over 50+ years), and Royal American Management itself (full-scope property management of conventional and affordable housing). Royal American manages a portfolio of more than 300 properties totaling over 23,000 units and serving 50,000+ residents across 14 U.S. states and the U.S. Virgin Islands, supported by regional offices in Kennesaw (Atlanta), Orlando, and Miami.

The underlying technology platform is RealPage OneSite, deployed across leasing and rents, document management, facilities, accounting, and affordable compliance products, with a dedicated VP of OneSite Support managing implementation and training. The company layers proprietary operational programs on top of this stack, including the Vendor Compliance Program (administered through affiliated Chapman Associates), the RAMP tuition-free training and internship program launched in 2022, the Pathway to Career Development program launched in October 2024, and the ACE (Advancement, Culture & Engagement) initiative spanning workplace culture and special needs housing across 60 communities in Florida, Georgia, and Alabama.

The business model combines three revenue streams: managed services fees from third-party property management contracts (typically multi-year) with housing authorities, non-profits, private developers, cooperatives, receiverships, and real estate investment companies; professional services fees from development advisory and LIHTC/HUD financing structuring; and construction revenue from new build and rehabilitation projects. Customer concentration skews toward institutional and government clients in the affordable housing segment, with pricing negotiated on a per-engagement basis rather than through published rate cards. Leadership is internally developed, with President Kerri Toth (since 2008) and multiple Regional VPs averaging 15-30+ years of industry tenure.

Name

Royal American Management

Legal name

Royal American Management, Inc.

Website

https://royalamerican.com

Company type

Private

Founded year

1968

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Royal American Management is a vertically integrated, privately held real estate company founded in 1968 that develops, constructs, and manages more than 300 multifamily properties totaling 23,000+ units across 14 U.S. states and the US Virgin Islands, serving housing authorities, non-profits, private developers, and residents.

Ownership category

akta.pro rank

Product category

Multifamily Property Management Services

NAICS

Services to Buildings and Dwellings (5617)

SIC

Real Estate Agents & Managers (For Others) (6531), Services-Management Services (8741)

akta.pro primary industry

Affordable & Subsidized Housing Property Management (LIHTC, Section 8) (BPAJAFAD)

akta.pro secondary industry

Mixed-Use Property Management (BPAJAGAE)

Keywords

• Multifamily property management
• Affordable housing development
• Real estate construction services
• Third-party property management
• Multifamily community development

Headquarters

HQ city

Panama City

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Property Management Services: Full-scope management services for conventional and affordable multifamily and single-family housing rental communities. Services include third-party management for housing authorities, government entities, non-profits, private developers, cooperatives, receiverships, and real estate investment companies.
2. Development Services: Development, rehabilitation, and long-term asset lifecycle management for multifamily communities. Services include market identification, land acquisition, permitting, value engineering, cost control, government assistance programs, sustainable design, and redevelopment.
3. Construction Services: Over 50 years of experience building multifamily/mixed-use communities and commercial developments including more than 140 multifamily communities, hotel facilities, and commercial projects.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels4 records

Core offering

Royal American Management is a vertically integrated real estate company that develops, constructs, and manages multifamily communities. The company provides full-scope property management services for conventional and affordable multifamily and single-family housing communities, third-party management for housing authorities and private owners, and development services for affordable housing projects utilizing LIHTC, HUD, and bond programs.

Product overview

Royal American Management operates as a vertically integrated real estate company offering three interconnected core services: Development (Royal American Development), Construction (Royal American Construction), and Management (Royal American Management). Royal American Development handles multifamily community development from market identification through permitting and sustainable design. Royal American Construction executes the building of multifamily communities and commercial projects with over 50 years of experience. Royal American Management provides property management services for conventional and affordable housing. Supporting these core operations are employee and community programs including ACE (Advancement, Culture & Engagement) with its ACE at Work and ACE in the Community components, RAMP (Rising Apartment Management Professionals) training program, Pathway to Career Development for internal employees, Third Party Management services for external clients, and Vendor Services for approved vendor compliance. The company manages over 300 properties across 15 states and the US Virgin Islands.

Differentiator

Problem solved

Functional benefit

Brands

• ACE (Advancement, Culture & Engagement): Workplace excellence and community engagement initiative with two key components: ACE at Work (focused on competitive compensation, career growth, and positive workplace culture) and ACE in the Community (Fair Housing commitment, Special Needs Housing, Resident Activities & Programs).
• RAMP (Rising Apartment Management Professionals)
• Pathway to Career Development

Products and services

• Royal American Development Multifamily community development services including market identification, land acquisition, permitting, value engineering, cost control, government assistance programs (HUD, LIHTC, bonds), and sustainable design for affordable and mixed-income housing.
• Royal American Construction Building and construction services for multifamily/mixed-use communities and commercial developments, with over 50 years of experience and 140+ multifamily communities built.
• Royal American Management (RAM) Property Management Full-scope property management services for conventional and affordable multifamily and single-family housing rental communities, including leasing, maintenance, accounting, compliance, and risk management oversight for a portfolio of 300+ properties and 23,000+ units.
• Third Party Property Management Full-scope third-party property management services offered to housing authorities, government entities, non-profit groups, private developers, cooperatives, receiverships, and real estate investment companies, with pricing negotiated by scope.

Named customers5 records

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Five partnerships are on record, tiered core.

• Chapman AssociatescoreImplementation/ SI/ Consulting PartnerChapman Associates is an affiliated company that administers RAM's Vendor Compliance Program. The company employs full-time staff dedicated to overseeing the vendor qualification process, checking vendor credentials and references, and obtaining and monitoring insurance certificates for all RAM-managed properties.
• RealPagecoreTechnology or IntegrationRAM uses RealPage OneSite products for property management including Leasing and Rents, Document Management, Facilities, RealPage Accounting, and all three affordable compliance products. Tonya Ward serves as VP of OneSite Support managing implementation and training.
• HUD (Housing and Urban Development)coreOthersRoyal American Development executes federal government assistance programs including HUD, Bonds, Tax Credit/LIHTC programs for affordable housing development projects.
• LIHTC (Low Income Housing Tax Credit) ProgramcoreOthersRAM develops properties utilizing Low Income Housing Tax Credit (LIHTC) programs for affordable housing, including projects like Fletcher Black I & II (HUD, Bonds, Tax Credit/LIHTC) and various senior and family apartment communities.
• Non-profit Housing OrganizationscoreStrategic or Co-development PartnerRAM works closely with multiple nonprofit organizations to manage communities providing quality housing for individuals taking the next step out of homelessness, including communities with special needs populations (persons with intellectual/developmental disabilities). Marilyn Urroz has worked extensively with nonprofits overseeing these housing programs.

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Asset Living: One of the largest third-party multifamily property managers in the US (~300k units), with broad conventional and affordable housing coverage. Highly comparable to RAM in serving housing authorities, LIHTC, and institutional owners across multiple states.
• BH Management Services: Large multifamily PM operating conventional and affordable portfolios nationwide. Overlapping mix of HUD/LIHTC and conventional multifamily, similar third-party contract model, comparable GTM to investors and housing authorities.
• FPI Management: Multifamily and affordable housing property manager with deep conventional/LIHTC/HUD expertise serving institutional clients. Direct competitor for third-party management contracts targeting similar owner types.
• Pinnacle Property Management Services: National third-party multifamily manager with significant affordable housing and HUD program compliance capability. Closely mirrors RAM's mix of conventional, affordable, and special needs portfolios under multi-year management contracts.
• Bozzuto Group: Vertically integrated multifamily developer, builder, and manager operating in the Mid-Atlantic and Southeast. Comparable business model: integrated development → construction → management under one brand.
• Lincoln Property Company: Large national multifamily manager with diversified conventional and affordable housing coverage. Comparable third-party management scale and owner-client model.
• WinnCompanies: Multifamily property manager with particularly strong affordable housing and military/special needs portfolio, plus in-house development arm. Closely comparable to RAM on affordable program depth and integrated platform.

Broad incumbents

• Greystar Real Estate Partners: Largest global multifamily manager/developer (~800k+ units) operating across investment management, development, and property management. Overlaps RAM's third-party management and development capabilities but at vastly greater scale and geographic breadth.
• Cushman & Wakefield (Multifamily PM): Global commercial real estate services firm with a multifamily asset services line competing for institutional third-party management mandates. Comparable in serving institutional owners with sophisticated compliance and reporting needs.

Emerging players

• RPM Living: Rapidly growing multifamily property manager serving conventional and affordable assets across multiple states. Comparable third-party contract GTM and expansion trajectory in the same regional footprint.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/RoyalAmericanManagement
• LinkedInlinkedin.com/company/royal-american-management-inc

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Subsidiaries7 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 Royal American Management