What BECO does

BECO, LLC is a privately held, vertically integrated real estate development, construction, and asset management company headquartered at 609 Independence Parkway, Suite 200, Chesapeake, Virginia. Founded in 1990 by Burt Cutright and Eric Olson, the company operates across the Hampton Roads region of Virginia and into northeastern North Carolina, serving residential renters, active-adult and senior renters (55+/62+), active-duty military service members, commercial tenants, and home buyers. BECO runs three primary divisions: Asset Management (1,900+ apartment units across eight multi-family communities plus 300,000+ square feet of commercial space), Development (mixed-use, residential, and land development), and Construction (commercial, medical, multi-family, light industrial, and residential).

BECO's multi-family portfolio comprises eight communities across Virginia, branded under Acqua (700 Acqua at Windy Knolls, 900 Acqua, 1200 Acqua, 3800 Acqua), plus Alexander Heights, Falcon Creek, Harbour Breeze, and Royal Sail. Commercial assets include the Bridgeport mixed-use development in North Suffolk (150,000+ square feet of retail, restaurants, and Class A office on 2,640 feet of frontage), medical office buildings (Harbour Breeze Medical Center and BECO Medical Center, under construction for August 2027 delivery), the Harbour Breeze Professional Center (62,000 SF Class A), BECO Corporate Headquarters (22,400 RSF), and industrial flex properties (International Plaza, High Chapparel, Battlefield Lakes Tech Center). Residential homebuilding under the BECO Homes brand covers The Villages at Tower Hill in Cape Charles (190 single-family homes and 90 townhomes built with Virginia Builders), beachfront homes in Corolla on the North Carolina Outer Banks, and Isle of Wight, Virginia. Homes carry a 10-year Quality Builders Warranty backed by Liberty Mutual. The company is LEED building certified and has completed National Green Building Standard (NGBS) Green Certified projects.

Revenue is generated across four streams: recurring monthly rents on the owned multi-family portfolio, commercial property leases on Class A/B office, retail, medical, and industrial flex space, one-time home sales from BECO Homes, and ancillary warranty and construction services. Customer acquisition relies on direct on-site leasing teams at each property, property-specific websites with online applications and virtual tours, LoopNet commercial listings, and the Rental Partnership Program (RPP) with Fort Gregg-Adams, JBLE-Langley, JBLE-Eustis, Naval Station Norfolk, and Portsmouth Coast Guard Base. Property management technology runs on Yardi Systems' RentCafe resident portal (iOS and Android), a third-party platform enabling rent payment, maintenance requests with photo and voice memo attachments, amenity reservations, package tracking, and digital lease renewals. BECO has received continuous industry recognition from the Virginia Apartment and Management Association, Hampton Roads Apartment Council, Tidewater Builders Association, and the Florida Apartment Association Multifamily Association, accumulating Community of the Year and maintenance excellence awards across multiple consecutive years from 2007 to 2025.

Name

BECO

Legal name

BECO, LLC

Website

https://becoasset.com

Company type

Private

Founded year

1990

Operating status

Operating

Headcount range

101–250 employees

Short description

BECO is a privately held, vertically integrated real estate development, construction, and asset management company headquartered in Chesapeake, Virginia. It operates 1,900+ apartment units across eight communities and 300,000+ square feet of commercial space across Virginia and northeastern North Carolina.

Ownership category

akta.pro rank

Product category

Real Estate Development and Property Management

NAICS

New Single-Family Housing Construction (except For-Sale Builders) (236115), New Housing For-Sale Builders (236117), Residential Building Construction (2361)

SIC

Operators Of Apartment Buildings (6513), General Bldg Contractors - Residential Bldgs (1520), Operators Of Nonresidential Buildings (6512)

akta.pro primary industry

Multi-Family Residential Construction (Apartments, Condos, Townhomes) (IMAFABAB)

akta.pro secondary industries

Residential Design-Build & Renovation-Integrated Builders (IMAFABAE), Residential General Contracting (New Build) (IMAFAAAB)

Keywords

• Multi-family apartments
• Commercial real estate leasing
• Residential construction
• Real estate development
• Property management

Headquarters

HQ city

Chesapeake

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Multi-Family Apartment Rent: BECO owns and operates 8 multi-family apartment communities across Virginia (1,900+ units) generating recurring monthly rent revenue. Tenants qualify with minimum 600 credit score and 3x monthly rent income. Properties offer resort-style amenities and lifestyle-focused living.
2. Commercial Property Leasing: BECO leases over 300,000 square feet of commercial space including Class A office, retail, medical, warehouse, and industrial space. Tenants include retail, dining, medical, government contractors, and light industrial businesses across Suffolk and Chesapeake, VA.
3. Residential Home Construction and Sales: BECO Homes builds single-family homes in Virginia, Eastern Shore, Knotts Island, and northeastern North Carolina. Projects include The Villages at Tower Hill (Cape Charles), homes in Corolla NC Outer Banks, and single-family homes in Isle of Wight. Homes sold with 10-year Quality Builders Warranty.
4. Home Warranty Services: BECO offers 10-year structural home warranties backed by Quality Builders Warranty (QBW) and Liberty Mutual, covering lot grading, roofing, siding, masonry, windows, plumbing, electrical, and structural components for newly constructed homes.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

BECO develops, constructs, and manages residential and commercial real estate across Virginia and North Carolina through three integrated divisions (Asset Management, Development, and Construction). It owns and operates eight multi-family apartment communities totaling 1,900+ units, over 300,000 square feet of commercial space (office, medical, retail, industrial flex), and builds single-family homes under the BECO Homes brand in desirable coastal and inland Virginia locations.

Product overview

BECO is a real estate development, construction, and asset management company offering a diversified portfolio of residential and commercial products across Virginia and North Carolina. The company operates through three primary divisions: Asset Management (multi-family apartments and commercial properties), Development (mixed-use, residential, and land development), and Construction (commercial, medical, multi-family, light industrial, and residential). Residential offerings include eight multi-family apartment communities under the Acqua brand (700, 900, 1200, 3800), Alexander Heights senior apartments, Falcon Creek lifestyle apartments, Harbour Breeze lifestyle apartments, and Royal Sail senior apartments. Commercial properties include office buildings (Harbour Breeze Professional Center, BECO Corporate Headquarters), medical facilities (Harbour Breeze Medical Center, BECO Medical Center), industrial flex spaces (International Plaza, High Chapparel, Battlefield Lakes Tech Center), and the Bridgeport mixed-use development. The company also builds single-family homes under BECO Homes brand. Asset management services cover over 1,900 apartment units and over 196,000 square feet of commercial space. Residents access services through the RentCafe Resident Portal App (iOS/Android) by Yardi Systems, and homeowners receive warranty coverage through Quality Builders Warranty.

Differentiator

Problem solved

Functional benefit

Brands

• Acqua: Luxury apartment brand with multiple properties including 700 Acqua, 900 Acqua, 1200 Acqua, and 3800 Acqua offering lifestyle and senior apartments across Virginia
• Royal Sail
• Alexander Heights
• Falcon Creek
• Harbour Breeze
• Bridgeport

Products and services

• 700 Acqua at Windy Knolls Luxury lifestyle apartments in Newport News, VA near Fort Eustis military base, with resort-style pool, 24-hour fitness center, business center, and clubhouse with billiards.
• 900 Acqua Senior Apartments Luxury senior apartments in Virginia Beach, VA for adults 62 and better, with seasonal pool, fitness center, and social activities.
• 1200 Acqua Apartments Luxury lifestyle apartments in Petersburg, VA near Fort Gregg-Adams (formerly Fort Lee), with putting green, fitness center, BBQ area, and clubhouse.
• 3800 Acqua Apartments Luxury apartments within the Bridgeport mixed-use development in Suffolk, VA, with five buildings and 14 distinct unit types, resort-style pool, 24-hour fitness center, dog park, and walkable community access.
• Alexander Heights Senior Apartments Senior apartments in Fredericksburg, VA for adults 55 and better, with seasonal swimming pool, fitness center, game room, gardening area, and dog parks.
• Falcon Creek Apartments Luxury lifestyle apartments in Hampton, VA near Langley Air Force Base, with lakeside resort-style pool, fitness center, and gourmet clubhouse kitchen.
• Harbour Breeze Apartments Lifestyle apartments in Suffolk, VA with stocked fishing lake, 24-hour fitness center, resort-style pool, walking trails, and optional garages.
• Royal Sail Senior Apartments Luxury senior apartments at Bridgeport development in Suffolk, VA for adults 55 or better, with library, activity rooms, screened porch, and pet grooming area within the walkable mixed-use community.
• Bridgeport Mixed-Use Development Mixed-use development in North Suffolk, VA on Bridge Road with over 700 multi-family units, 150,000+ square feet of boutique retail, restaurants, and Class A office space, and 2,640 feet of frontage with 40,000+ daily vehicle traffic.
• BECO Medical Center (Harbour View) 25,160 gross square foot modern two-story medical and office building under construction in Harbour View, Suffolk, VA, with 125 parking spaces and expected delivery August 2027.
• Harbour Breeze Medical Center 24,883 square feet of 4-Star Class A medical space in Suffolk, VA, with covered patient drop-off, gurney-capable elevators, and secured access.
• Harbour Breeze Professional Center Five identical single-story office buildings totaling 62,000 square feet with flexible floor plans from 1,000 to 11,500 RSF, Class A office space with brick veneer and glass construction.
• International Plaza Industrial flex space in Chesapeake, VA with two offices and a warehouse totaling 40,000 square feet, located in Cavalier Industrial Park with convenient access to I-64, I-264, and I-664.
• High Chapparel Industrial flex space in Chesapeake, VA with three office warehouses and one industrial parcel totaling 56,000 square feet, near Cavalier Industrial Park with access to I-64, I-264, and I-664.
• Battlefield Lakes Tech Center Industrial flex space in Chesapeake, VA with both office and warehouse space totaling 17,000 square feet, located half a mile from the 168 Bypass in Great Bridge.
• BECO Corporate Headquarters 22,400 RSF Class A office development at Battlefield Corporate Park in Chesapeake, VA, a two-story building with custom finishes and appointments.
• Northgate Commerce Park 4.09 acres parcel at 110 Maya Way in Suffolk, VA available for land lease or build-to-suit, with an approved development plan for convenience store, retail strip, and quick-service restaurant.
• BECO Homes Residential Construction Single-family home construction under the BECO Homes brand in Virginia, Eastern Shore, Knotts Island, and northeastern North Carolina, with projects including The Villages at Tower Hill in Cape Charles and beachfront homes in Corolla, NC Outer Banks.
• 10-Year Residential Home Warranty 10-year Quality Builders Warranty service backed by Liberty Mutual, covering lot grading, roofing, siding, masonry, windows, plumbing, electrical, and structural components for newly constructed BECO Homes.

Quantifiable outcome

• 1,900+ apartment units managed at 8 properties with over 86,000 SF Class A office and 110,000+ SF Class B commercial office space
• +2 more outcomes

Named customers13 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature2 records

Partnerships

Three partnerships are on record, tiered minor and core.

• Virginia BuildersminorStrategic or Co-development PartnerBECO is partnered with Virginia Builders for the Tower Hill, Eastern Shore single-family home construction project in Isle of Wight, VA. Virginia Builders serves as the construction partner for this development of 190 single-family homes and 90 townhomes.
• Quality Builders Warranty (QBW)coreOthersQuality Builders Warranty is the nation's premiere provider of 10-year home warranties. QBW only works with builders of integrity. BECO Residential Construction displays the QBW logo and offers a 10-year home warranty backed by Liberty Mutual, covering lot grading, roofing, siding, masonry, windows, plumbing, electrical, and structural components.
• Yardi Systems (RentCafe)coreTechnology or IntegrationBECO uses Yardi Systems' RentCafe resident portal app for property management across all apartment communities. Residents use the app to pay rent, submit maintenance requests with photos and voice memos, reserve amenities, track packages, sign lease renewals, and interact through the Bulletin Board. The platform is available on iOS and Android.

Scale indicators5 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• S.L. Nusbaum Realty Co. Norfolk, Virginia-based full-service real estate developer, owner, and manager of multifamily, mixed-use, office, and retail properties across Hampton Roads and the Mid-Atlantic. Closest geographic and business-model comparable to BECO given overlapping multifamily ownership/management, in-house construction, and coastal Virginia operating focus.
• Drucker + Falk: Mid-Atlantic and Southeast multifamily property management and investment firm managing ~40,000+ units across the same regional footprint as BECO. Highly comparable as a third-party multifamily operator with overlapping customer segments and similar asset classes (Class A garden and mid-rise apartments).
• Bonaventure: Mid-Atlantic multifamily owner, developer, and operator active in Virginia (including Hampton Roads) with vertically integrated development, construction, and asset management. Directly comparable to BECO's build-to-core strategy and senior/lifestyle multifamily positioning.
• The NRP Group: Cleveland-based multifamily developer, builder, and operator with a Southeast/Mid-Atlantic pipeline including Virginia. Comparable build-to-rent integrated model delivering Class A apartments and mixed-use communities—same product type, customer base, and development-led value chain as BECO.
• RangeWater Real Estate: Sun Belt-focused multifamily developer and operator with Sun Belt/Southeast footprint. Comparable as a vertically integrated multifamily owner-developer with similar luxury lifestyle positioning and amenity-driven resident experience to BECO's Acqua and Harbour Breeze communities.
• W.M. Jordan Company: Newport News, Virginia-based commercial construction, real estate development, and property management firm. Directly comparable to BECO's Construction and Development divisions given regional construction overlap and integrated development/asset management model in Virginia.
• Hourigan Construction: Richmond, Virginia-based construction management and real estate development firm with multifamily, mixed-use, and commercial project expertise. Comparable to BECO's construction capabilities and Virginia-based project pipeline.
• Franklin Johnston Group: Virginia Beach-based multifamily development and property management company operating across the Mid-Atlantic. Directly comparable to BECO's multifamily operations with similar regional footprint, luxury Class A product, and military-adjacent communities.

Broad incumbents

• Greystar Real Estate Partners: Global multifamily owner, operator, and developer managing ~800,000+ units across the U.S. including Virginia. Comparable at the business-model level as the dominant multifamily operator, but with vastly greater scale, geographic diversification, and proprietary operating technology—BECO is a regional incumbent versus a national leader.
• CBRE Group: Global commercial real estate services and investment firm with brokerage, property management, and investment sales across all asset classes including multifamily and medical office. Comparable at the commercial property management and advisory level to BECO's commercial operations but at vastly larger scale and broader scope.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCOFCppqqksIdZgaAW2tVFGQ
• Facebookfacebook.com/BECOassetManagement
• LinkedInlinkedin.com/company/beco-asset-management-llc
• Instagraminstagram.com/becoassetmanagement
• Xx.com/becoassetmngmt

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 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 BECO