What Servitas does

Servitas is a private, Irving, Texas-based development firm specializing in public-private partnership (P3) structuring for student housing on higher education campuses and workforce housing for municipal governments. Founded in 2001 by Rafael Figueroa, who previously managed real estate for the North Carolina State University System and pioneered the tax-exempt financing model for Sallie Mae, the firm has financed over $1.5 billion in student and workforce housing developments and actively manages more than 50,000 beds through its wholly-owned subsidiary, Servitas Management Group (SMG). The company's core differentiation is P3 financial structuring using tax-exempt bond financing that funds 100% of project costs, enabling universities and municipalities to deliver housing with no upfront capital outlay while receiving substantial ground lease payments over 30-40 year terms (e.g., $600M projected for Texas A&M, $138M for FIU over 30 years).

The company operates an integrated design-build-finance-operate-maintain (DBFOM) delivery model through four service lines: Housing Development (student and workforce), Market Demand Research (feasibility and supply-demand studies), P3 Structuring (tax-exempt bond financing), and in-house Construction Management, supplemented by ongoing Property Management via SMG. Servitas selects customers exclusively through competitive public procurement (RFP/RFQ) and consultative pre-procurement engagement, and claims to be the only nationwide student housing developer with a true on-campus focus (90% of developments on-campus). It holds independent pre-approved developer status with both the Texas A&M University System and the University of California System, and projects range from 112 beds at $4.68M to 3,406 beds at $371M. Customer base spans public and private universities, community colleges, and municipal governments across Texas, Florida, California, Colorado, New Mexico, Arkansas, and Indiana.

Revenue is generated through three streams: development and construction management fees tied to project delivery, recurring property management fees from SMG, and the structural spread embedded in ground lease P3 arrangements where Servitas retains operational control during the lease term and ownership transfers to the public partner after bond repayment. Pricing is not publicly disclosed and is determined project-by-project through competitive procurement and negotiation; there are no public funding rounds disclosed and Servitas operates as a founder-controlled private firm with 51-100 employees.

Name

Servitas

Legal name

Servitas, LLC

Website

https://servitas.com

Company type

Private

Founded year

2001

Operating status

Operating

Headcount range

51–100 employees

Short description

Servitas is a private Texas-based P3 developer that finances, designs, builds, and manages student housing for universities and workforce housing for municipalities using tax-exempt bond structures across the United States.

Ownership category

akta.pro rank

Product category

Real Estate Development Services

NAICS

New Multifamily Housing Construction (except For-Sale Builders) (236116), Management of Companies and Enterprises (55111)

SIC

Real Estate Agents & Managers (For Others) (6531), Investors, Nec (6799)

akta.pro primary industry

Multifamily & Student Housing Asset Management (BPAJAMAD)

Keywords

• Student housing development
• Workforce housing development
• Public-private partnerships
• Property management services
• Real estate development

Headquarters

HQ city

Irving

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Development & Construction Management Fees: Servitas earns development fees and construction management fees for overseeing the full lifecycle of housing projects from planning through construction and occupancy, serving as the developer and general contractor coordinator.
2. Property Management Services: Servitas Management Group (SMG) provides ongoing property management, maintenance, marketing, leasing, and residence life services for student housing properties, generating recurring management fee revenue. The company has actively managed over 50,000 beds of purpose-built collegiate student housing.
3. Ground Lease Payments from Public Partners: In P3 structures, public institutions (universities and municipalities) receive ground lease payments from Servitas over the term of the ground lease (e.g., $600M to Texas A&M over ground lease term, $138M to FIU over 30 years). Servitas retains operational control during the lease term.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels4 records

Core offering

Servitas develops, finances, builds, operates, and maintains student housing and workforce housing projects for higher education institutions and municipalities using a public-private partnership (P3) DBFOM (Design-Build-Finance-Operate-Maintain) model. The firm also provides market demand research, P3 structuring advisory, construction management, and ongoing property management through its Servitas Management Group (SMG) subsidiary.

Product overview

Servitas is a nationwide student housing and workforce housing development firm offering a comprehensive suite of services through its integrated platform. The core offering consists of Student Housing Development Services (DBFOM model) and Workforce Housing Development Services (P3-structured), supported by four specialized modules: Servitas Management Group (SMG) for property management, Market Demand Research for feasibility analysis, P3 Financial Model & P3 Campus Structuring for financing, and Construction Management for in-house project delivery. The company operates primarily on-campus (90% of developments) with the remaining on campus-affiliated or adjacent land, serving higher education and municipal partners.

Differentiator

Problem solved

Functional benefit

Brands

• Servitas Management Group (SMG): National student housing management division providing property management, maintenance, marketing, leasing, residence life programming, and operational services for student housing properties.

Products and services

• Student Housing Development On-campus and near-campus student housing developments delivered under the DBFOM (Design-Build-Finance-Operate-Maintain) model for higher education institutions, using tax-exempt bond financing and long-term ground lease structures.
• Workforce Housing Development Affordable and workforce housing projects delivered for municipal governments and public agencies through P3 structures, addressing local workforce housing shortages and supporting economic development goals.
• Servitas Management Group (SMG) Property management subsidiary of Servitas that operates and maintains housing assets developed by the firm, providing day-to-day property operations, leasing, and resident services for student and workforce housing communities.
• Market Demand Research Feasibility and market analysis service that assesses housing demand, demographic trends, and competitive supply to support project go/no-go decisions for higher education and municipal clients.
• P3 Structuring Advisory service that structures public-private partnership (P3) deals, including financial modeling, tax-exempt bond issuance strategy, ground lease terms, and risk allocation between public and private partners.
• Construction Management Construction management services delivered as part of the DBFOM delivery model, overseeing design coordination, contractor selection, schedule, and budget for student and workforce housing builds.

Quantifiable outcome

• Over $1.5B in successfully financed student and workforce housing developments
• +6 more outcomes

Named customers12 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Six partnerships are on record, tiered core.

• Los Alamos CountycoreStrategic or Co-development Partner · 1 March 2026Servitas was selected through competitive public procurement to develop Coyote Mesa, a 380-unit mixed-income workforce housing development on County-owned land. The County purchased $2M in deed restrictions for low-income residents, and all excess project cash flow is returned to the County. Ownership transfers to County following bond repayment.
• Town of TelluridecoreStrategic or Co-development Partner · 1 July 2023Servitas was selected to provide the Town of Telluride with its first public-private partnership, developing 39 units of attainable housing with for-sale and for-rent components. The Canyonlands-Tower House project will provide long-term cash flow to the Town, with ownership transferring to the Town of Telluride after bond repayment.
• Gunnison CountycoreStrategic or Co-development Partner · 1 May 2023Servitas is developing Whetstone Village in partnership with Gunnison County, a 100% deed-restricted community on 15 acres of County-owned land with 252 for-rent units. Servitas serves as Fee Developer, structuring development so County's land is held in an unsubordinated Ground Lease paying all excess cash flow to the County.
• City of Miami Beach (CFC-Miami Beach Properties LLC)coreStrategic or Co-development Partner · 1 January 2018The Anamar at Collins Park is the first Class A workforce housing project in Miami Beach, serving artists and educators at 80-120% of Area Median Income. The innovative P3 structure allows housing to be built at no cost to the city, paying approximately $300,000 in year 1 with annual increases. Ownership transfers to City after bond repayment.
• Texas A&M University SystemcoreStrategic or Co-development PartnerThe Texas A&M University System independently selected Servitas as a pre-approved developer to provide integrated student housing services, including property management. Park West (3,406 beds, $371M) is the largest student housing P3 in the United States, generating $600M for the University over the ground lease term.
• University of California SystemcoreStrategic or Co-development PartnerThe University of California System independently selected Servitas as a pre-approved developer to provide integrated student housing services, including property management, demonstrating recognition of Servitas' professional record of successful project delivery.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Market position

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/ServitasLLC
• LinkedInlinkedin.com/company/servitas

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 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 Servitas