Somerset Pacific

What Somerset Pacific does

Somerset Pacific is a privately held asset management firm founded in July 2003 and headquartered in Garden City, Idaho. The company specializes in managing multi-family housing under the Low-Income Housing Tax Credit (LIHTC) program, with a current portfolio of approximately 1,280 units organized into three categories: 84 low-income properties, 20 senior living communities (55+ and 62+), and 35 rural properties. Operations span eight states — Idaho, Utah, Nevada, Alaska, Nebraska, South Dakota, Montana, and Louisiana — and the firm runs a decentralized model with four regional managers overseeing localized portfolios. Staff expertise spans LIHTC, RD, HOME, HUD Programs, fair housing law, and ADA compliance, supported by an in-house accounting department and dedicated compliance team.

The firm's core service is third-party property and asset management for affordable housing owners and investors, with revenue derived from management fees on LIHTC-regulated units. Resident-facing services include online rent payment and maintenance request submission through integrated third-party platforms (RealPage for Alaska properties; Loft Living for Idaho, Louisiana, and Nevada properties). The product offering also includes individual property developments such as Sycamore Commons in Boise (launching late spring 2026), Sierra Ridge (62+ senior housing in Carson City), and Palisade Park in Ephraim, Utah, which includes transitional housing for domestic violence victims. Marketing and tenant acquisition are conducted primarily through the company website with state-based property listings, blog content on affordable housing topics, and direct phone contact.

The business model is service-fee based: the firm does not own the properties it manages but operates them on behalf of property owners under affordable housing regulatory frameworks. The customer base is structurally diversified across many individual properties, owners, and LIHTC-qualified tenants. Senior leadership includes Ed Cornforth (President, 13 years), Alexis Yon (SVP, accounting), Eric Cornforth (Director of Operations), John Hess (Director of Compliance), Jayna West (Director of HR), and Mike Drouin (Project Management). The firm has 51-100 employees and operates as a closely-held private entity with no disclosed institutional investors, funding events, or public listing.

Name

Somerset Pacific

Legal name

Somerset Pacific

Website

https://somersetpacific.com

Company type

Private

Founded year

2003

Operating status

Operating

Headcount range

51–100 employees

Short description

Somerset Pacific is a privately held affordable housing asset management firm founded in 2003 in Garden City, Idaho, managing approximately 1,280 LIHTC, senior, and rural multi-family units across eight U.S. states for property owners and LIHTC-qualified residents.

Ownership category

akta.pro rank

Product category

Affordable Housing Property Management

NAICS

Lessors of Residential Buildings and Dwellings (531110), Lessors of Residential Buildings and Dwellings (53111), Other Residential Care Facilities (623990)

SIC

Real Estate Operators (No Developers) & Lessors (6510), Real Estate (6500)

akta.pro primary industry

Affordable & Subsidized Housing Property Management (LIHTC, Section 8) (BPAJAFAD)

akta.pro secondary industries

Independent Living Real Estate Owners/Operators (REITs & Management Companies) (HLADAAAG), Affordable Housing Property Management (BPAJAGAJ)

Keywords

• Affordable housing management
• Multi-family housing
• LIHTC property management
• Senior living housing
• Asset management services

Headquarters

HQ city

Garden City

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, Infrastructure, Marketing or Sales

Distribution channels1 record

Marketing channels4 records

Core offering

Somerset Pacific is an asset and property management firm that manages a portfolio of 1,280 multi-family housing units across seven to eight U.S. states, with specialization in Low-Income Housing Tax Credit (LIHTC) properties. The firm operates affordable rental housing communities in three categories—84 low-income properties, 20 senior living properties (55+/62+), and 35 rural properties—serving low-income individuals, families, and seniors with on-site leasing, maintenance, and compliance services.

Product overview

Somerset Pacific is an asset management firm founded in July 2003, specializing in multi-family housing management with an emphasis on Low-Income Housing Tax Credit Program (LIHTC) properties. The company operates a unified portfolio of 1,280 units across 15 named properties in Idaho, Utah, Nevada, Alaska, Nebraska, Montana, and Louisiana, organized into three main categories: 35 Rural properties, 20 Senior Living properties (55+/62+ communities), and 84 Low-Income properties. The portfolio includes individual communities like Sycamore Commons, Willow Court, Winchester Court, The Grove at Riverside, Sonoma Springs, Sierra Ridge, Sagewood, Rockwell Court, Palisade Park, Hooper Springs, Christina Court, Autumn Village, Renaissance Gateway, Cypress Springs, and Kellum Place. Somerset Pacific supplements its core property management with resident-facing digital services including online maintenance request submission and rent payment through integrations with RealPage and Loft Living resident portals.

Differentiator

Problem solved

Functional benefit

Products and services

• Sycamore Commons Senior living community in Boise, Idaho with Studio and 1-bedroom units; utilities included and affordable pricing targeted at 55+/62+ residents.
• Willow Court Senior living (55+) community in Hamilton, Montana offering 2-bedroom apartments with utilities included.
• Winchester Court Family and senior community in Elko, Nevada with 2 and 3-bedroom apartments featuring Energy Star appliances.
• The Grove at Riverside Family affordable housing community in Rexburg, Idaho with 2 and 3-bedroom apartments.
• Sonoma Springs Family affordable housing in Winnemucca, Nevada with 2 and 3-bedroom townhomes including water and trash removal.
• Sierra Ridge Senior living (62+) community in Carson City, Nevada with 1 and 2-bedroom handicap-accessible apartments.
• Sagewood Senior living (55+) community in Caldwell, Idaho with 1 and 2-bedroom apartments featuring washer/dryer hookups and garages.
• Rockwell Court Family affordable housing in Rexburg, Idaho with 2, 3, and 4-bedroom apartments near BYU-Idaho.
• Palisade Park Family housing community in Ephraim, Utah with 36 units including 2, 3, and 4-bedroom apartments; includes transitional housing for domestic violence victims.
• Hooper Springs Senior living community in Baton Rouge, Louisiana with 1 and 2-bedroom apartments featuring modern appliances and central air.
• Christina Court Senior living (55+) community in Carson City, Nevada with brand new 1 and 2-bedroom apartments.
• Autumn Village Senior living (62+) community in Carson City, Nevada (Autumn Village I & II) with 1 and 2-bedroom apartments.
• Renaissance Gateway Family and senior housing in Baton Rouge, Louisiana with 1, 2, 3, and 4-bedroom apartments featuring state-of-the-art appliances.
• Cypress Springs Senior living community in Baton Rouge, Louisiana with spacious 1 and 2-bedroom apartments.
• Kellum Place Family affordable housing in Fairbanks, Alaska with 1, 2, and 3-bedroom apartments including utilities, ADA accessible units, and community amenities.
• Multi-Family Housing Portfolio Managed portfolio of 1,280 multi-family housing units across Idaho, Utah, Nevada, Alaska, Nebraska, Montana, South Dakota, and Louisiana, specializing in LIHTC properties.

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Scale indicators4 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Dominium: One of the largest LIHTC-focused multifamily owners and managers in the U.S., directly comparable to Somerset Pacific in its specialization in affordable housing property management under the LIHTC program.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks1 record

Key highlights1 record

Customer concentration

• LinkedInlinkedin.com/company/somerset-pacific

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 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 Somerset Pacific