What Nelson Construction and Development does

Nelson Construction and Development is a privately held, integrated real estate developer, investor, and general contractor founded in 1999 by Mike Nelson and headquartered in Des Moines, Iowa. The firm operates across four asset classes — behavioral health, senior living, multifamily housing, and commercial construction — with a stated $1B+ in completed project value across 62 projects and 5M+ square feet constructed over its 27-year history.

The company's product surface is split between two integrated functions. On the development side, Nelson originates, capitalizes, and owns real estate assets across purpose-built addiction treatment facilities (12 facilities, 739 treatment beds in Iowa, Indiana, Minnesota, and North Carolina), senior living communities (876 assisted/independent living units and 306 memory care units), and multifamily housing (963 units across 8 properties in the Des Moines metro). On the construction side, the firm operates an in-house general contracting arm providing preconstruction, construction management, and design-build services across commercial, multifamily, senior living, behavioral health, hospitality, mixed-use, and adaptive reuse projects. A central architectural feature is an "operator-first" model in which Nelson owns the underlying real estate while specialized third-party operators manage facility operations and resident care.

Nelson makes money through three interlocking revenue streams: project-level development economics (equity co-investment with accredited investors plus debt financing, with assets held for long-term cash flow and strategic disposition), general contracting fees on construction projects, and equity investment returns distributed to co-investor partners via an investor portal. Its customer base spans accredited investors and family offices (equity capital), specialized facility operators (Ascen

Name

Nelson Construction and Development

Legal name

Nelson Construction & Development

Website

https://nelsonconstruct.com

Company type

Private

Founded year

1999

Operating status

Operating

Headcount range

11–50 employees

Short description

Nelson Construction and Development is a Des Moines-based real estate developer, investor, and general contractor that develops, owns, and builds behavioral health, senior living, and multifamily properties across the Midwest alongside accredited investor partners.

Ownership category

akta.pro rank

Product category

Real Estate Development

NAICS

Commercial and Institutional Building Construction (236220), New Multifamily Housing Construction (except For-Sale Builders) (236116), Nonresidential Building Construction (2362)

SIC

Operative Builders (1531), General Bldg Contractors - Nonresidential Bldgs (1540), General Bldg Contractors - Residential Bldgs (1520)

akta.pro primary industry

Office & Corporate Building Construction (IMAFACAA)

akta.pro secondary industries

Multi-Family Residential Construction (Apartments, Condos, Townhomes) (IMAFABAB), Residential Design-Build & Renovation-Integrated Builders (IMAFABAE)

Keywords

• Commercial real estate development
• Senior living development
• Behavioral health facilities
• Multifamily housing development
• General contracting services

Headquarters

HQ city

Des Moines

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Real Estate Development: Nelson develops, owns, and operates real estate assets across senior living, behavioral health, and multifamily. They structure projects with equity from accredited investors and debt financing, holding properties for long-term cash flow with strategic disposition optionality.
2. General Contracting Services: Nelson provides construction management, general contracting, design-build, and renovation services as a general contractor for commercial projects across Iowa and the Midwest.
3. Equity Investment Returns: Nelson co-invests in their own deals alongside investor partners and generates returns through quarterly distributions, K-1s, and capital appreciation upon project disposition.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

Nelson Construction & Development operates as an integrated real estate developer, investor, and general contractor developing Behavioral Health (detox and inpatient addiction treatment), Senior Living (independent living, assisted living, memory care), and Multifamily Housing (market-rate and workforce) properties across the Midwest. The firm also provides general contracting and construction management for commercial, hospitality, mixed-use, and adaptive reuse projects. Nelson retains long-term ownership of developed assets while partnering with specialized third-party operators for day-to-day facility operations, and offers accredited investors direct participation in projects via co-investment.

Product overview

Nelson Construction & Development operates as a real estate developer, investor, and general contractor with three core divisions: Behavioral Health Development, Senior Living Development, and Multifamily Housing Development, plus Construction Services. The company develops, builds, and owns real estate across the Midwest while partnering with specialized third-party operators to manage day-to-day operations. The Behavioral Health division focuses on purpose-built addiction treatment facilities (detox and inpatient) across Iowa, Indiana, Minnesota, and North Carolina. The Senior Living division develops independent living, assisted living, and memory care communities across the Midwest. The Multifamily division focuses on market-rate housing and historic preservation in the Des Moines metro. Construction Services provides general contracting and construction management across all asset types. Notable named projects include ThriveNow Pleasant Hill (50-bed, 2024), ThriveNow Iowa City (60-bed), Indiana Treatment Centers in Mishawaka and Columbus, Granite Ridge Recovery Center in St. Cloud, Raleigh Recovery Center, Renewal Falls (170-bed), Aura Independent Living (111 units), and 418 E Grand (132 units with retail).

Differentiator

Problem solved

Functional benefit

Products and services

• Behavioral Health Real Estate Development Development of purpose-built behavioral health facilities (detox and inpatient addiction treatment) across Iowa, Indiana, Minnesota, and North Carolina. Nelson acquires and converts existing assets or develops ground-up facilities, owning the real estate while partnering with third-party operators to run day-to-day clinical care. Targets markets where 92.4% of those needing treatment go without it.
• Senior Living Real Estate Development Development of independent living, assisted living, and memory care communities across the Midwest. Nelson develops and owns the real estate while partnering with specialized senior living operators to manage day-to-day resident care and operations. Targets markets with strong 65+ population growth, limited existing supply, and over 880,000 additional senior housing units needed nationally by 2030.
• Multifamily Housing Development Market-rate and workforce housing development in the Des Moines metro area, combining ground-up construction with historic preservation and adaptive reuse projects. Portfolio includes 963 units across 8 properties developed over 17 years.
• Construction Services (General Contracting) General contracting, construction management, design-build, and renovation services for commercial, multifamily, senior living, behavioral health, hospitality, mixed-use, and adaptive reuse projects across Iowa and the Midwest. Service spans preconstruction through closeout, with early involvement emphasized for cost and schedule control.
• Real Estate Co-Investment Opportunities Direct co-investment opportunities in real estate development projects across senior living, behavioral health, multifamily, and commercial assets in the Midwest, offered to accredited investors, family offices, and registered investment advisors. Nelson co-invests alongside investors and provides quarterly distributions, K-1s, and project updates through a secure investor portal.

Quantifiable outcome

• 92.4% of those needing addiction treatment go without it - creating massive unmet demand for behavioral health real estate
• +2 more outcomes

Named customers6 records

Segments5 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered core.

• Ascension Recovery ServicescoreImplementation/ SI/ Consulting PartnerAscension Recovery Services is a recognized national leader in developing and managing substance use disorder treatment centers, founded in 2016. They have built 70 programs across 30 states, serving thousands of patients. Ascension operates programs on a percentage-of-revenue model and brings deep experience in licensing, contracting, and regulatory compliance for behavioral health facilities.
• Arista RecoverycoreImplementation/ SI/ Consulting PartnerArista Recovery is a Midwest behavioral health operator with 40 years of healthcare services experience, focused on evidence-based addiction treatment and mental health care. They operate residential and outpatient facilities anchored by a 38-acre inpatient campus near Kansas City, Kansas, with 10 facilities across 4 states.
• Arrow Senior LivingcoreImplementation/ SI/ Consulting PartnerArrow Senior Living is a growing senior living operator with communities across the Midwest, bringing a hospitality-forward approach to independent living, assisted living, and memory care. Founded in 2014, they operate 10+ communities with programs built around resident engagement, purposeful activity, and high-quality everyday care.
• Agemark Senior LivingcoreImplementation/ SI/ Consulting PartnerAgemark is a senior living management company specializing in assisted living and memory care. Known for their person-centered care philosophy, Agemark operates 15+ communities where the quality of daily experience is as important as clinical outcomes.
• Franciscan MinistriescoreImplementation/ SI/ Consulting PartnerFranciscan Ministries is a mission-driven, nonprofit Catholic senior living organization sponsored by the Franciscan Sisters of Chicago, founded in 1988. They own and operate 14 communities offering independent living, assisted living, memory care, skilled nursing, and rehabilitation guided by a person-centered philosophy of compassionate, faith-rooted care.

Scale indicators15 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Ryan Companies: Minneapolis-based real estate developer, investor, designer, and builder with a deeply integrated owner/developer/GC model across multifamily, senior living, healthcare, and commercial. Closest comparable—Mike Nelson worked there before founding Nelson.
• The Weitz Company: Des Moines-headquartered general contractor and design-builder with a century-long Iowa/Midwest footprint spanning commercial, senior living, multifamily, and healthcare construction—directly overlapping Nelson's integrated markets and geography.
• Opus Group: Minneapolis-based developer and general contractor operating a vertically integrated real estate model across multifamily, senior living, healthcare, and commercial properties in the Midwest—same integrated developer-plus-GC structure as Nelson.
• The NRP Group: Cleveland-based multifamily and affordable housing developer with deep experience in workforce housing, market-rate apartments, and public-private partnerships—closely comparable to Nelson's multifamily division.

Broad incumbents

• Greystar Real Estate Partners: Largest U.S. multifamily developer, operator, and investment manager with a national footprint that includes Midwest markets—operates at much greater scale but competes for the same multifamily development pipeline.
• McCarthy Building Companies: National general contractor with a substantial healthcare and senior living practice delivering large-scale hospital, behavioral health, and senior living facilities—competes for the same healthcare construction contracts as Nelson's GC arm.
• Mortenson: Minneapolis-headquartered national developer and builder with integrated real estate and construction capabilities across healthcare, multifamily, and commercial sectors—similar Midwest roots and integrated delivery model.
• Trammell Crow Company: National commercial real estate developer operating across healthcare, multifamily, and office development with institutional capital backing—broader scale but overlapping verticals in senior living and behavioral health development.

Regional players

• Russell Construction: Iowa-based general contractor serving commercial, healthcare, senior living, and multifamily clients across the Midwest—direct competitor in Nelson's home geography for third-party GC work.
• Continental Real Estate: Midwest-focused commercial and multifamily real estate developer with development and investment capabilities—competes with Nelson in Midwest commercial/multifamily markets from a similar regional platform.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/nelson-construction-and-development
• Instagraminstagram.com/nelsonconstruct

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 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 Nelson Construction and Development