37th Parallel Properties
- Company typePrivate
- Founded2008
- HeadquartersRichmond, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
37th Parallel Properties firmographics
Firmographics- Name
- 37th Parallel Properties
- Legal name
- 37th Parallel Properties, Inc.
- Website
- https://37parallel.com
- Company type
- Private
- Founded year
- 2008
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Ownership category
- akta.pro rank
37th Parallel Properties industry classification
Industry- Product category
- Multifamily Real Estate Fund Management
- NAICS
- Funds, Trusts, and Other Financial Vehicles (525), Other Investment Pools and Funds (5259)
- SIC
- Investors, Nec (6799), Real Estate Agents & Managers (For Others) (6531)
- akta.pro primary industry
- Real Estate Funds — Core-Plus (FSANAEAG)
- akta.pro secondary industry
- Real Assets — Real Estate (Core, Core+, Value-Add, Opportunistic) (FSAHAIAA)
Keywords
Where 37th Parallel Properties is headquartered
LocationHeadquarters
- HQ city
- Richmond
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
37th Parallel Properties business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure
Revenue model
- Real Estate Syndication & Fund Management: The firm raises capital from high-net-worth individuals, family offices, and institutional investors through fund vehicles (Fund I, Fund II) and single-asset co-investments. Revenue is generated through a combination of acquisition fees, asset management fees, construction management fees, disposition fees, and promote/performance fees. Investor capital is deployed into multifamily assets with a 100% profitable track record across over $1B in transactions.
- Investment Advisory & Due Diligence Services: Provides investment structuring, underwriting, and asset management services to passive investors. Revenue includes sponsor fees, carried interest (promote), and ongoing fund management fees based on assets under management and investor capital raised.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Single-Asset Investments — Co-investment opportunities in individual multifamily properties alongside fund investments. |
| Other | Multi-year contract | Fund I & Fund II — Diversified portfolios of multifamily assets in Sunbelt growth markets. |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels9 records
37th Parallel Properties product offering
Product offeringCore offering
37th Parallel Properties acquires, manages, and disposes of value-add and core-plus multifamily real estate in Sunbelt markets through private equity fund vehicles (Fund I, Fund II) and single-asset co-investments. The firm raises equity from accredited investors, identifies Class A/B properties in supply-constrained high-growth metros, and executes value-add business plans via in-house asset and construction management to deliver tax-advantaged cash distributions and equity growth.
Product overview
37th Parallel Properties operates as a multifamily real estate investment firm offering two core investment products: 37P Fund I (now closed to new investment) and 37P Fund II, which are private equity real estate funds targeting value-add and core-plus multifamily assets in the Southeast and Texas. The firm also offers Single Asset Investments for investors who prefer targeted property exposure. These core products are complemented by an Investor Portal powered by Juniper Square for account management, and free educational webinars covering investment strategies, tax advantages, and asset management. The investment approach focuses on demographic-centered identification of Class A/B multifamily communities in Sunbelt markets with strong growth drivers, supply constraints, and exit liquidity.
Differentiator
Problem solved
Functional benefit
Brands
- 37P Fund I: The inaugural private equity fund launched in November 2019, targeting value-add and core-plus multifamily real estate in Southeast and Texas markets. Closed to new investment in January 2022.
- 37P Fund II
Products and services
- 37P Fund II Private equity real estate fund targeting value-add and core-plus multifamily assets in dynamic Sunbelt growth markets in the Southeast and Texas, seeking to acquire properties below replacement cost, unlock embedded value, and deliver returns through disciplined management and strategic dispositions. Open to accredited investors with minimum investments of approximately $100,000.
- 37P Fund I Inaugural private equity real estate fund that invested in ten value-add and core-plus multifamily assets across six high-growth Southeast markets including Atlanta, Austin, Dallas, Fort Worth, Houston, and San Antonio; closed to new investment in early 2022.
- Single Asset Investments Co-investment opportunities in individual multifamily properties alongside the firm's fund vehicles, allowing investors to select specific properties and markets for targeted exposure to Class A/B multifamily communities in Sunbelt markets. Minimum investments of approximately $100,000.
Quantifiable outcome
- 17.10% average annualized net investor return (after sponsor fees and promote, before tax benefits)
- +7 more outcomes
Companies that use 37th Parallel Properties
Customer profileNamed customers3 records
Segments3 records
Ideal customer profiles3 records
37th Parallel Properties technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration3 records
37th Parallel Properties partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core and minor.
- Apta PropertiescoreJoint venture partner on the Parkside Vista (now Haven North East) acquisition in Atlanta, GA — a 240-unit multifamily asset acquired in July 2021. Apta Properties contributed new investor capital alongside 37th Parallel Fund I and high-net-worth investor equity. The partnership was structured as a joint venture with Apta Properties providing capital and receiving pro-rata returns.
- First CommunitiescoreOn-site property management partner for Haven North East (Atlanta, GA). First Communities manages over 18,500 units in the Atlanta metro and over 57,000 units overall, providing institutional-quality property management for the asset.
- RPM LivingminorOn-site property management partner for The Heights of Cityview (Fort Worth, TX). RPM Living, founded in Austin, TX, manages over 112,000 units nationwide, providing professional property management services for the 344-unit asset.
Scale indicators13 records
Recent moves6 records
Expansion highlights5 records
37th Parallel Properties competitors and assessment
Company assessmentDirect peers
- RangeWater Real Estate: Sunbelt-focused multifamily acquirer and operator sponsoring private funds for individual and institutional investors; highly comparable strategy, geography, and investor base to 37th Parallel.
- TruAmerica Multifamily: National multifamily value-add fund manager running commingled funds and JV vehicles for institutional and high-net-worth investors; competes in similar core-plus/value-add space.
- American Landmark (AIP): Multifamily investment sponsor raising capital from individual investors and family offices to acquire value-add apartment communities across the Sunbelt, with a directly analogous product set and GTM.
- Crow Holdings Capital: Diversified real estate investment manager with deep Sunbelt multifamily exposure and multiple value-add funds targeting institutional and high-net-worth capital.
- Cardinal Group: Multifamily investment, management, and developer with a Sunbelt tilt, sponsoring funds and co-investments for individual investors; directly comparable in product mix and target LP base.
- Milestone Asset Management (Milestone Real Estate): Multifamily-focused investment firm that raises capital from private investors and institutions to acquire and reposition apartment assets in growth markets.
- GID (GID Investment Advisers): Vertically integrated real estate investment manager with multifamily funds and separate accounts across U.S. growth markets; comparable fund structure and core-plus/value-add strategy.
Broad incumbents
- Blackstone Real Estate (BREIT): Largest global real estate platform with the BREIT non-traded REIT and core+ multifamily strategies; sets the institutional standard for individual-investor multifamily access and competes for the same LP capital.
- Brookfield Asset Management (Real Estate): Global alternative asset manager with a large multifamily and Sunbelt residential book; broader mandate but overlaps in target geography, asset class, and LP base.
- KKR Real Estate: Global private equity real estate platform with multifamily strategies across the U.S.; represents the institutional incumbent benchmark for fund scale and execution.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat6 records
Key risks7 records
Key highlights7 records
Customer concentration
37th Parallel Properties social profiles
Digital presence37th Parallel Properties financial estimates
Financial estimateRevenue estimate
Valuation estimate
37th Parallel Properties leadership team
Management profileNumber of profiles
Profiles8 records
37th Parallel Properties funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
37th Parallel Properties M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about 37th Parallel Properties
What does 37th Parallel Properties do?
37th Parallel Properties acquires, manages, and disposes of value-add and core-plus multifamily real estate in Sunbelt markets through private equity fund vehicles (Fund I, Fund II) and single-asset co-investments. The firm raises equity from accredited investors, identifies Class A/B properties in supply-constrained high-growth metros, and executes value-add business plans via in-house asset and construction management to deliver tax-advantaged cash distributions and equity growth.
Is 37th Parallel Properties a public or private company?
37th Parallel Properties is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was 37th Parallel Properties founded?
37th Parallel Properties was founded in 2008. It employs 11 to 50 people.
Where is 37th Parallel Properties based?
37th Parallel Properties is headquartered in Richmond, United States, in the North America region.
How does 37th Parallel Properties make money?
Two revenue lines are on record. Real Estate Syndication & Fund Management is the primary driver. The others are investment Advisory & Due Diligence Services.
Who are 37th Parallel Properties's main competitors?
Direct peers on record are RangeWater Real Estate, TruAmerica Multifamily, American Landmark (AIP), Crow Holdings Capital, Cardinal Group, Milestone Asset Management (Milestone Real Estate) and GID (GID Investment Advisers). Broad incumbents are Blackstone Real Estate (BREIT), Brookfield Asset Management (Real Estate) and KKR Real Estate.
Does 37th Parallel Properties have an API?
No public API is recorded for 37th Parallel Properties.
What industry is 37th Parallel Properties in?
37th Parallel Properties's product category is Multifamily Real Estate Fund Management. Its primary akta.pro industry code is FSANAEAG, Real Estate Funds — Core-Plus, with a secondary code of FSAHAIAA, Real Assets — Real Estate (Core, Core+, Value-Add, Opportunistic). Its NAICS code is 525 and its SIC code is 6799.