What Zimmer Development Company does

Zimmer Development Company (ZDC) is a privately held, family-owned real estate development firm founded in 1989 and headquartered in Wilmington, North Carolina. The company develops, owns, leases, and manages commercial retail, multi-family residential, student housing, and marina properties across 19 states, with primary geographic focus on the U.S. East Coast from Florida to Pennsylvania. Since inception, ZDC has completed over 270 projects in 150+ cities, encompassing 8 million+ square feet of retail space and 20,000+ multi-family beds, with cumulative developed asset value stated at $4 billion+ on the company header and $3 billion+ in the About page narrative. Core product lines include single-tenant net-lease buildings, mixed-use town centers, conventional multi-family apartment communities (often branded under the "Evolve" label), student housing delivered via public-private partnerships with universities, and marina developments. Notable anchor tenants include Target, Walmart, Lowe's, CVS Pharmacy, Food Lion, Harris Teeter, Giant Food, Publix, Ross, and Bed Bath & Beyond, indicating a diversified national tenant book across grocery, pharmacy, and big-box retail verticals.

ZDC operates a vertically integrated model: from its Wilmington headquarters, it oversees development, construction, leasing, property management, and project finance. Major ongoing projects include the $300 million, 780-unit Whittier Peninsula mixed-use development in Columbus, Ohio (with a $10 million Ohio Brownfield Remediation Program grant awarded in 2024) and the Fulton Yard mixed-use project in Richmond, Virginia (535 apartments and 106,000 square feet of commercial space, acquired from CSX Transportation for $5.3 million). Revenue is generated through development fees, leasing commissions, rental income from owned multi-family and commercial properties, and ongoing property management services. The portfolio has maintained occupancy above 90% over the past decade.

The company is family-controlled, with five Zimmer family members in executive roles (Jeffrey L. Zimmer as President; Landon G. Zimmer and Lowell A. Zimmer as Managing Partners; Herbert J. Zimmer as General Counsel & Secretary; Emily Zimmer Del Gaizo as In-House Counsel). Other senior leaders include CFO Joseph H. Wasserman, VP C. Adam Tucker, and functional directors in Leasing, Development, and Construction. ZDC has no disclosed external institutional investors, parent company, or public listing. The leadership team maintains active government relationships, including Landon G. Zimmer's service as Vice Chairman of the N.C. Wildlife Resources Commission (2025) and prior reappointment to the N.C. Board of Transportation (2020), which supports the company's regulatory and entitlement positioning in its home state.

Name

Zimmer Development Company

Legal name

Zimmer Development Company

Website

https://zdc.com

Company type

Private

Founded year

1989

Operating status

Operating

Headcount range

11–50 employees

Short description

Zimmer Development Company is a private, family-owned real estate developer founded in 1989 and headquartered in Wilmington, NC. It develops, owns, and manages commercial retail, multi-family, student housing, and marina properties across 19 U.S. states, primarily on the East Coast.

Ownership category

akta.pro rank

Product category

Commercial Real Estate Development

NAICS

New Housing For-Sale Builders (236117)

SIC

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

akta.pro primary industry

Residential General Contracting (New Build) (IMAFAAAB)

akta.pro secondary industry

Mixed-Use Property Management (BPAJAGAE)

Keywords

• Commercial real estate development
• Multi-family housing
• Student housing development
• Retail property leasing
• Mixed-use development

Headquarters

HQ city

Wilmington

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Supply Chain, Personnel, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Commercial Real Estate Development: Development, construction, leasing, and management of commercial properties including retail centers, single-tenant buildings, and mixed-use town centers. Revenue generated through property development fees, leasing commissions, and long-term asset ownership.
2. Multi-Family Housing Development: Development of multi-family housing including student housing and conventional apartment products. Revenue from development fees, property sales, and ongoing property management.
3. Commercial Property Management: Management and leasing of commercial portfolio with portfolio occupancy rate of greater than 90% over the past decade.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Zimmer Development Company develops, constructs, leases, and manages commercial real estate (retail centers, single-tenant buildings, and mixed-use town centers), multi-family residential apartment communities, student housing via university partnerships, and marina facilities. The company develops for dozens of national and local tenants across 19 states, with a primary focus on the U.S. East Coast from Florida to Pennsylvania. Revenue is generated through ground-up development, sale of completed assets, leasing commissions, and ongoing property management.

Product overview

Zimmer Development Company is a national commercial and multi-family real estate developer founded in 1989, headquartered in Wilmington, North Carolina. The company's product portfolio consists of three core service/product lines: (1) Multi-Family Residential Developments including conventional apartment communities under the Evolve brand and other branded properties (Terraces at High Mountain, The Ivy, Whittier Peninsula, etc.) totaling over 20,000 multi-family beds across multiple states; (2) Commercial Real Estate including retail strip centers, mixed-use town centers, and single-tenant buildings developed across 150+ cities in 19 states with over 8 million square feet of retail space; and (3) Marina Developments including Wrightsville Beach Marina and The Port at East Beach. The company also develops student housing through public-private partnerships with universities. Major projects include the $300 million Whittier Peninsula mixed-use development in Columbus, Ohio and the Fulton Yard mixed-use project in Richmond, Virginia. The company has developed over 270 projects valued at over $3 billion.

Differentiator

Problem solved

Functional benefit

Products and services

• Multi-Family Residential Developments Portfolio of conventional and luxury multi-family apartment communities developed, owned, and managed by Zimmer Development Company across the southeastern and eastern United States. Includes branded communities such as Terraces at High Mountain (Huntsville, AL), Boardwalk at Research Park (Huntsville, AL), The Oasis at Surfside (Cape Coral, FL), The Ivy (Fort Myers, FL), Viridian One (Tallahassee, FL), Mountain View (Asheville, NC), One Ninety Eight Milltown (Burlington, NC), The Mill (Burlington, NC), 1701 North (Chapel Hill, NC), Evolve at Parkway (Concord, NC), Evolve Timber Creek (Garner, NC), Parker (Garner, NC), Evolve at Lake Norman (Mooresville, NC), Eagle Landing (Southern Pines, NC), Overlook at Morganton Park (Southern Pines, NC), Evolve at Surf City (Surf City, NC), Belle Meade (Wilmington, NC), Mayfaire Townview (Wilmington, NC), Wrightsville Townes (Wilmington, NC), 2 Marina (Wrightsville Beach, NC), Whittier Peninsula (Columbus, OH), William E Murray (Charleston, SC), Evolve at Tega Cay (Fort Mill, SC), Marvell Community (Rock Hill, SC), Evolve at New Hope Farm (Spartanburg, SC), 811 East (Knoxville, TN), Inspiration at South Pointe (Fort Myers, FL), and additional pipeline communities. Totals over 20,000 multi-family beds developed for working professionals and families.
• Commercial Real Estate Developments and Leasing Portfolio of commercial retail, office, and mixed-use properties developed for national and local tenants, including grocery anchors, pharmacies, big-box retailers, and restaurants. Includes over 270 commercial properties totaling more than 8 million square feet of retail space across 150+ cities in 19 states. Tenants include Target, Walmart, Lowe's, CVS Pharmacy, Food Lion, Harris Teeter, Giant Food, Publix, Ross, and Bed Bath & Beyond, among others.
• Student Housing Developments Purpose-built student housing communities developed in partnership with universities, including the 346-bed Seminole Landing on-campus community at Florida State University Panama City (the first-ever residential facility on the FSU Panama City campus) and other student housing properties such as Stadium Enclave. Delivered through public-private partnerships that address on-campus housing shortages.
• Marina Developments Waterfront marina facilities developed alongside residential and mixed-use communities, including Wrightsville Beach Marina (16 boat slips in Wrightsville Beach, NC) and the 114-boat slip marina at The Port at East Beach in Norfolk, Virginia.
• Mixed-Use Developments Large-scale mixed-use town centers and waterfront redevelopments combining residential apartments, retail/commercial space, public greenways, and marina facilities. Major projects include the $300 million Whittier Peninsula development in Columbus, Ohio (780 units across three seven-story buildings with public green space, trails, and greenways on a former 16.5-acre brownfield site, awarded $10 million in state brownfield remediation grants) and Fulton Yard in Richmond, Virginia (276+ apartments and 100,000+ square feet of commercial space across multiple buildings, project approved in 2019 with land acquired from CSX Transportation for $5.3 million).

Quantifiable outcome

• 90%+ portfolio occupancy rate maintained over the past decade

Named customers11 records

Segments4 records

Ideal customer profiles3 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 and minor.

• Drucker + Falk (DF Multifamily)coreImplementation/ SI/ Consulting Partner · 31 July 2024Drucker + Falk selected by Zimmer Development Company to lease and manage Terraces at High Mountain, a 198-unit luxury multifamily community in Huntsville, Alabama. This marked Drucker + Falk's second collaboration with ZDC, with the first residential building and clubhouse scheduled for completion in September 2024.
• NBBJcoreStrategic or Co-development PartnerArchitectural firm NBBJ partnered with Zimmer Development Company on the Whittier Peninsula project in Columbus, Ohio. NBBJ is the architectural firm behind local developments like Gravity and Two25 Commons.
• Florida State UniversitycoreStrategic or Co-development PartnerPublic-private partnership between Florida State University Panama City and Zimmer Development Co. resulted in Seminole Landing, a 346-bed on-campus student housing community in Panama City, Florida. This was the first-ever residential facility on the FSU Panama City campus.
• CSX TransportationcoreStrategic or Co-development PartnerZimmer Development Company acquired land from CSX Transportation for the Fulton Yard development in Richmond, VA. The company purchased property for $5.3 million for the three parcels needed for the mixed-use development including 535 apartments and 106,000 square feet of retail space.
• David AcevedominorStrategic or Co-development PartnerLocal artist David Acevedo collaborated with Zimmer Development Company to create 'The Living Lands' mosaic mural at The Ivy multi-family development in Fort Myers. The collaboration included Fort Myers Community Redevelopment Agency and Fort Myers Public Art Committee.

Scale indicators8 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Greystar Real Estate Partners: Largest multifamily property manager, developer, and operator in the U.S., with extensive Sun Belt and Southeast exposure. Directly comparable to ZDC's multifamily development and operating model at meaningfully larger scale.
• The NRP Group: National multifamily developer, owner, and operator with strong Sun Belt and student housing presence. Closely matches ZDC's product mix across conventional apartments and student housing P3s.
• Wood Partners: National multifamily developer focused on Class A garden and mid-rise communities across the Sun Belt and Southeast. Comparable to ZDC in product type and target geography.
• RangeWater Real Estate: Multifamily developer and operator focused on the Southeastern U.S., with heavy footprint in markets like Atlanta, Raleigh, Charlotte, and Florida — overlapping directly with ZDC's core geography.
• LMC (Lennar Multifamily Communities): Multifamily development arm of Lennar focused on Class A apartment communities nationwide, with notable Sun Belt concentration. Directly comparable product and operating model to ZDC.
• Crescent Communities: Southeast-based diversified real estate developer of multifamily, commercial, and mixed-use properties. Highly comparable to ZDC in geography, scale, and product mix including marinas/land development.
• The Bainbridge Companies: Multifamily developer, owner, and operator with deep Sun Belt and Mid-Atlantic presence. Closely comparable to ZDC across product type, geography, and tenant strategy.
• GID (General Investment & Development): Privately-held real estate investment and development firm operating multifamily, mixed-use, and commercial properties across the U.S. Comparable mid-size private developer profile to ZDC.

Broad incumbents

• Trammell Crow Company: Large diversified commercial real estate developer with national footprint across office, industrial, multifamily, and mixed-use. Overlaps with ZDC's commercial and mixed-use development activities at substantially larger scale.
• Toll Brothers: National residential and multifamily developer with extensive Sun Belt exposure through Toll Brothers Apartment Living. Broader portfolio than ZDC but overlapping in for-sale and for-rent residential development.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 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 Zimmer Development Company