PIA Residential

Name

PIA Residential

Legal name

PIA Residential

Website

https://piaresidential.com

Company type

Private

Founded year

2009

Operating status

Operating

Headcount range

1–10 employees

Ownership category

akta.pro rank

Product category

Private Equity Real Estate Investment

NAICS

Funds, Trusts, and Other Financial Vehicles (525), Other Investment Pools and Funds (5259), Other Financial Vehicles (52599)

SIC

Investors, Nec (6799), Real Estate Dealers (For Their Own Account) (6532), Real Estate Agents & Managers (For Others) (6531)

akta.pro primary industry

Real Estate Funds — Value-Add (FSANAEAH)

akta.pro secondary industries

Real Estate Portfolio & Fund Management (Institutional/REIT/PE) (BPAJAMAJ), Residential Real Estate Asset Management (BPAJAMAA)

Keywords

• Multifamily real estate investment
• Private equity real estate
• Value-add multifamily
• Workforce housing investment
• Real estate fund management

Headquarters

HQ city

Miami

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Real Estate Investment Management: PIA Residential generates revenue through management fees and performance-based carried interest (promote) from its private equity fund, PIA Residential Fund I. The firm also generates returns through the acquisition, renovation, and sale or hold of multifamily properties in the Southeast US.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels7 records

Core offering

PIA Residential raises equity capital through its flagship PIA Residential Fund I, LP and deploys it into acquiring, renovating, and operating Class B multifamily workforce housing properties in primary and secondary markets across the Southeast US. The firm executes a hands-on value-add program — increasing occupancies, raising rents, and lowering expenses — to generate current income and capital appreciation, while providing LPs with reporting through a dedicated investor portal.

Product overview

PIA Residential is a private equity real estate firm that operates primarily through its flagship fund vehicle, PIA Residential Fund I, LP. The firm specializes in acquiring and managing Class B multifamily workforce housing properties in primary and secondary markets of the Southeast US. Their investment strategy delivers attractive, risk-adjusted returns for investors seeking current income, capital preservation, and appreciation through disciplined value-add programs. They offer an investor portal for existing investors to access reporting and account management. The firm also provides educational webinars and thought leadership content on multifamily real estate investing.

Differentiator

Problem solved

Functional benefit

Products and services

• PIA Residential Fund I, LP PIA Residential's flagship private equity fund that aggregates LP capital commitments (minimum $200,000, target fund size $60-100 million, GP commit 5% up to $3M) to acquire, renovate, and operate Class B multifamily properties in primary and secondary markets of the Southeast US, targeting 12-14% net IRR and 6-8% average net cash-on-cash returns over a 5-7 year fund life with a 2-year investment period.
• Investor Portal Secure online portal (investorportal.piaresidential.com) provided to LPs of PIA Residential Fund I for investment reporting, performance tracking, document access, and account management.

Quantifiable outcome

• Net average investor IRR exceeding 30% on historical transactions; 12-14% net IRR target for Fund I; 6-8% average net CoC return target for Fund I
• +1 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered minor and core.

• 10 FederalminorOthers · 1 April 202210 Federal of Raleigh, NC was the seller of Autumn View, a 177-unit multifamily property in Fayetteville, NC, which PIA acquired for $27.1 million in April 2022. The transaction was brokered for the seller by Alex McDermott with Capstone Companies.
• Grubb PropertiesminorOthers · 1 November 2021Grubb Properties of Charlotte, NC was the seller of Sterling Bluff, a 216-unit multifamily property in Savannah, GA, which PIA acquired for $29 million in November 2021. Grubb was represented by Nelson Abels and Mike Kemether of Cushman & Wakefield's multifamily division in Atlanta.
• Best-in-Class National and Regional Property ManagerscoreImplementation/ SI/ Consulting PartnerPIA Residential operates with best-in-class national and regional property managers who handle day-to-day property operations including tenant management, maintenance, and leasing. This partnership is central to PIA's value-add strategy of hands-on asset management.

Scale indicators5 records

Recent moves9 records

Expansion highlights5 records

Direct peers

• TruAmerica Multifamily: Institutional multifamily value-add sponsor focused on workforce and Class B properties across US secondary markets. Highly comparable to PIA in strategy, asset class focus, and target resident demographic, though at meaningfully larger AUM.
• Hamilton Zanze: San Francisco-based real estate PE firm specializing in value-add multifamily acquisitions in US growth markets. Closely mirrors PIA's strategy of acquiring older multifamily assets and executing renovation-driven value-add programs.
• Carter Multifamily: Value-add multifamily investment manager with a vertically integrated operating platform including property management and renovations. Direct comparable to PIA's vertically integrated model and Class B workforce housing thesis.
• Berkshire Residential Investments: Boston-based multifamily investment manager focused on workforce and value-add multifamily across US markets. Comparable target demographic, strategy, and fund-based investment approach to PIA Residential Fund I.
• GID Investment Advisers: Vertically integrated real estate investment and operating company active in multifamily workforce housing. Similar vertically integrated approach with property management and renovation capabilities, though operating at larger AUM.
• Crow Holdings Capital: Dallas-based real estate investment manager with strong Sun Belt multifamily value-add focus. Overlapping geographic footprint (Texas/Southeast US) and similar Class B value-add strategy make it a direct comparable.
• RangeWater Real Estate: Sun Belt-focused multifamily acquirer and operator with integrated property management. Highly comparable geographic concentration in the same Southeast US markets PIA targets, with similar Class B workforce housing thesis.

Broad incumbents

• AEW Capital Management: Established institutional real estate investment manager with dedicated US value-add multifamily strategies. Comparable multifamily value-add focus but operates as a broader-platform incumbent rather than a niche specialist.
• LaSalle Investment Management: Global institutional real estate manager with US multifamily value-add strategies. Comparable strategy at scale but operates across multiple property types and geographies as a broad incumbent.

Others

• Cerberus Capital Management: Large alternative asset manager that acquired the majority of PIA's single-family rental portfolio in 2018. Relevant counterparty and indirect comparable — an institutional buyer of PIA's prior strategy and a source of validation for the principals' track record.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights5 records

Customer concentration

• Facebookfacebook.com/profile.php?id=100063920380453
• LinkedInlinkedin.com/company/piaresidential

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 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 PIA Residential