Third and Urban
Third & Urban is a privately held Southeast US real estate investment and development firm that acquires, develops, and manages commercial and mixed-use properties across Atlanta, Charlotte, Orlando, Nashville, and Birmingham for institutional capital partners and commercial tenants.
- Company typePrivate
- Founded2014
- HeadquartersAtlanta, United States
- Headcount1–10
- GTM typeB2B
- OfferingServices
What Third and Urban does
Third & Urban is a privately held real estate investment and development firm headquartered in Atlanta, Georgia, that acquires, develops, and manages commercial and mixed-use properties across the Southeast United States. The firm operates three integrated service lines — Investments, Development, and Management — covering the full lifecycle from sourcing and acquisition through design, financing, construction, and ongoing asset and property management. Its portfolio spans 37 investments totaling approximately 4 million square feet and $1.6 billion in aggregate project value, with notable assets including Georgia 400 Center (a 430,000 SF Class A office portfolio in Alpharetta), Northbend (a 611,000 SF nine-building office assemblage in Brookhaven), Westside Paper (a 245,200 SF adaptive reuse in West Midtown Atlanta), Armour Yards, Hillcrest (a co-development with Trammell Crow Company in Sandy Springs), Sorella and The Pass in Charlotte, Fulcrum in Orlando, Sylvan Supply in Nashville, and The Denham Building in Birmingham.
The firm's core product is real estate — not technology — and no proprietary technology platform is disclosed; the operating model relies on conventional underwriting, construction management, asset management, and property management practices. Revenue is generated through three primary streams: development fees on ground-up and adaptive reuse projects (professional services), equity investment returns from co-investment alongside institutional partners (managed services), and ongoing property and asset management fees across the portfolio (managed services). Pricing is not publicly disclosed and is negotiated on a deal-by-deal basis with capital partners.
The go-to-market motion is sales-led and direct, targeting two primary customer segments: institutional investors (major banks, asset managers, and private equity funds including JPMorgan, PGIM, Wells Fargo, US Bank, Truist, and others that provide co-investment capital), and commercial tenants leasing space within developed properties (creative office users, retailers, restaurants, and multifamily residents). The firm is led by Managing Partner Pierce Lancaster and Partners Hank Farmer and Jon Huang, with a team drawn from Jamestown, CBRE, JLL, Morgan Stanley, Deloitte, Cushman & Wakefield, Bridge Investment Group, and other established real estate and financial services platforms. Ownership appears to be founder/partner-held with no disclosed external institutional investment, no funding rounds, and no parent company.
Third and Urban firmographics
Firmographics- Name
- Third and Urban
- Legal name
- Third & Urban
- Website
- https://thirdandurban.com
- Company type
- Private
- Founded year
- 2014
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Third & Urban is a privately held Southeast US real estate investment and development firm that acquires, develops, and manages commercial and mixed-use properties across Atlanta, Charlotte, Orlando, Nashville, and Birmingham for institutional capital partners and commercial tenants.
- Ownership category
- akta.pro rank
Third and Urban industry classification
Industry- Product category
- Commercial Real Estate Development
- NAICS
- Real Estate and Rental and Leasing (53), Lessors of Nonresidential Buildings (except Miniwarehouses) (53112), Lessors of Residential Buildings and Dwellings (53111)
- SIC
- Operative Builders (1531), Real Estate Dealers (For Their Own Account) (6532), Lessors Of Real Property, Nec (6519)
- akta.pro primary industry
- Multi-Family Residential Construction (Apartments, Condos, Townhomes) (IMAFABAB)
- akta.pro secondary industry
- Multifamily Apartment Property Management (BPAJAFAA)
Keywords
Where Third and Urban is headquartered
LocationHeadquarters
- HQ city
- Atlanta
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Third and Urban business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Infrastructure, Marketing or Sales, Technology or R&D
Revenue model
- Real Estate Development: Third & Urban generates revenue through development fees from ground-up and adaptive reuse projects. The firm oversees the entire development process from acquisition through construction and activation, earning development and management fees.
- Investment Returns: As an investor in their own projects alongside institutional partners, the firm earns returns on equity investments in value-add and opportunistic real estate projects across the Southeast.
- Property Management: Active asset management and property management services for their portfolio of investments, maintaining property integrity while curating tenant communities.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels2 records
Third and Urban product offering
Product offeringCore offering
Third & Urban is a real estate investment and development firm that acquires, develops, and manages commercial and mixed-use properties across the Southeast United States. The firm operates through three integrated lines — Investments (identifying and executing value-add and opportunistic real estate deals), Development (full-service ground-up construction and adaptive reuse from planning and design through financing, construction, and activation), and Management (active asset and property management for its portfolio). The firm co-invests alongside institutional capital partners across urban and infill Southeast markets.
Product overview
Third & Urban is a real estate development firm offering integrated services across three core areas: Investments (identifying and investing in urban development opportunities across the Southeast), Development (full-service development from concept to completion across planning, design, financing, construction, and activation), and Management (property management focused on experience, engagement, and community building). The company operates a portfolio of 37 investments totaling 4 million square feet with $1.6B in total project value, including properties such as Georgia 400 Center, Hillcrest, Northbend, Northridge Commons, Sorella, Atkins Park Collection, Dunwoody Park, The Pass, Westside Paper, Lower Tuck, Fulcrum, Sylvan Supply, COMPLEX, Inland Tract, The Denham Building, Common Ground, and Armour Yards. These properties span multiple Southeastern markets including Atlanta (GA), Charlotte (NC), Orlando (FL), Nashville (TN), and Birmingham (AL), covering various property types including multifamily, office, mixed-use, flex-industrial, and adaptive reuse projects.
Differentiator
Problem solved
Functional benefit
Products and services
- Investments
- Development
- Management
Quantifiable outcome
- $1.6B in total project value across 37 investments and 4 million square feet
Companies that use Third and Urban
Customer profileSegments3 records
Ideal customer profiles2 records
Third and Urban technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Third and Urban partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Trammell Crow Companyco-development partner for hillcrest mixed-use project in sandy springsCo-development partner for the Hillcrest mixed-use project, partnering on a 364-unit luxury apartment and 19,000 SF retail development.
Scale indicators3 records
Recent moves6 records
Expansion highlights4 records
Third and Urban competitors and assessment
Company assessmentDirect peers
- Jamestown: Jamestown is a global real estate investment and management firm specializing in adaptive reuse, mixed-use, and value-add urban repositioning. Multiple Third & Urban leaders (Pierce Lancaster, Hank Farmer, Jon Huang, Mitchell Braun) previously worked at Jamestown, making it the closest direct comparable in philosophy, asset approach, and Southeast US footprint.
- Trammell Crow Company: Trammell Crow Company is one of the largest US commercial real estate developers, with deep Southeast operations across multifamily, office, mixed-use, and industrial. Trammell Crow is Third & Urban's active co-development partner on the Hillcrest mixed-use project, making it a directly comparable large-scale development platform.
- Asana Partners: Asana Partners is a Charlotte-headquartered real estate investment firm focused on high-density, mixed-use urban retail and multifamily in the Southeast. Former Third & Urban VP Mitchell Braun worked at Asana Partners, and the firm operates in overlapping markets with a comparable value-add urban strategy.
- Bridge Investment Group: Bridge Investment Group is a vertically integrated real estate investment manager with value-add strategies across multifamily, office, and seniors housing. Former Third & Urban Senior Associate Hunter Bryant worked in Bridge's value-add office platform, and the firm has a significant Southeast Sun Belt presence comparable to Third & Urban's footprint.
- FCP: FCP is a privately held real estate investment company focused on multifamily and mixed-use value-add and opportunistic investments in the Southeast and Mid-Atlantic. FCP is listed as a major financial partner of Third & Urban and operates an overlapping Southeastern investment strategy.
- Granite Properties: Granite Properties is a commercial real estate investment, development, and management company focused on Class A office and mixed-use assets primarily in the Southeast and Texas. Granite is listed as a major financial partner of Third & Urban and shares a comparable geographic and product-type focus.
- North American Properties: North American Properties is an Atlanta-based real estate investment and development firm specializing in mixed-use, multifamily, and retail repositioning projects across the Southeast. NAP operates in many of the same submarkets as Third & Urban with a closely aligned mixed-use development strategy.
- Stream Realty Partners: Stream Realty Partners is a national commercial real estate services and development firm with a strong Southeast presence spanning office, industrial, retail, and multifamily. Former Third & Urban Development Manager Chandler Bovitz worked at Stream Realty, and the firm is comparable in size, regional focus, and full-service investment and management model.
Broad incumbents
- Cousins Properties: Cousins Properties is an Atlanta-headquartered publicly traded REIT focused on Class A office towers in the Southeast Sun Belt. As a large incumbent operating in overlapping Atlanta and Charlotte submarkets, Cousins provides a comparable institutional office investment perspective, though at significantly larger scale.
- JLL: JLL is a global commercial real estate services and investment firm offering brokerage, capital markets, asset management, and project management. Multiple Third & Urban alumni previously worked at JLL, and the firm is broadly comparable as a real estate services and capital placement partner across the same asset classes.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks7 records
Key highlights7 records
Customer concentration
Third and Urban financial estimates
Financial estimateRevenue estimate
Valuation estimate
Third and Urban leadership team
Management profileNumber of profiles
Profiles11 records
Third and Urban funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Third and Urban M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Third and Urban
What does Third and Urban do?
Third & Urban is a real estate investment and development firm that acquires, develops, and manages commercial and mixed-use properties across the Southeast United States. The firm operates through three integrated lines — Investments (identifying and executing value-add and opportunistic real estate deals), Development (full-service ground-up construction and adaptive reuse from planning and design through financing, construction, and activation), and Management (active asset and property management for its portfolio). The firm co-invests alongside institutional capital partners across urban and infill Southeast markets.
Is Third and Urban a public or private company?
Third and Urban is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Third and Urban founded?
Third and Urban was founded in 2014. It employs 1 to 10 people.
Where is Third and Urban based?
Third and Urban is headquartered in Atlanta, United States, in the North America region.
How does Third and Urban make money?
Three revenue lines are on record. Real Estate Development is the primary driver. The others are investment Returns and property Management.
Who are Third and Urban's main competitors?
Direct peers on record are Jamestown, Trammell Crow Company, Asana Partners, Bridge Investment Group, FCP, Granite Properties, North American Properties and Stream Realty Partners. Broad incumbents are Cousins Properties and JLL.
Does Third and Urban have an API?
No public API is recorded for Third and Urban.
What industry is Third and Urban in?
Third and Urban's product category is Commercial Real Estate Development. Its primary akta.pro industry code is IMAFABAB, Multi-Family Residential Construction (Apartments, Condos, Townhomes), with a secondary code of BPAJAFAA, Multifamily Apartment Property Management. Its NAICS code is 53 and its SIC code is 1531.