Lakestone Properties

What Lakestone Properties does

Lakestone Properties is a McFarland, Wisconsin-based real estate company founded in 2010 by Brett Riemen and Brian Spanos that develops, owns, and manages residential rental housing, commercial real estate, self-storage, and marina services across the Greater Madison Area. The firm operates a multi-city portfolio spanning six Dane County municipalities (Deerfield, McFarland, Stoughton, Oregon, Sun Prairie, Monona) under named residential brands including Autumn Wood Apartments, Blue Aster Apartments, Wild Meadows, Nordic Ridge, Jefferson Crossing, and Humble Oaks, alongside commercial assets such as The Atwater Retail (a 12,000 sq ft building completed in 2023) and Crawford's Landing. Its ancillary businesses include Lakestone Storage and Lakestone Marina, providing additional revenue lines tied to its local market presence.

The company runs operations on the AppFolio Property Manager platform, which powers online resident and owner portals, ACH auto-draft rent collection, applicant screening, and maintenance ticketing; property marketing incorporates Matterport 3D virtual tours and Google Maps integration on its website. In-house functions span real estate development, acquisitions, general contracting, property management, maintenance, accounting, and marketing, supported by a 15-person team that includes co-founders, a Director of Operations, general contractor, property managers, maintenance staff, and a storage manager. The firm also offers third-party property management services to outside owners and investors, including tenant screening, rent collection, maintenance, accounting, and owner-portal performance reporting.

Lakestone's revenue model combines owned-asset rental income (residential and commercial) with managed-services fees from third-party property owners and ancillary self-storage and marina revenue. Tenants are individual residential renters across a range of unit types priced from $1,255 (studios) to $2,795 (four-bedroom duplexes) per month, with security deposits of $500-$1,500 and pet fees of $250 plus $30-$45/month. The firm is privately held by its founders with no disclosed institutional investors, no funding rounds, and no public listing.

Name

Lakestone Properties

Legal name

Lakestone Properties

Website

https://lakestoneproperties.com

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

11–50 employees

Short description

Lakestone Properties is a McFarland, Wisconsin-based real estate company founded in 2010 that develops, owns, and manages residential rentals, commercial properties, self-storage, and a marina across Dane County communities, serving both tenants and third-party property investors.

Ownership category

akta.pro rank

Headquarters

HQ city

Mcfarland

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Property Rental Income: Revenue from residential and commercial rental properties owned by the company across Dane County, WI
2. Property Management Services: Comprehensive property management services for property owners and investors including tenant screening, rent collection, maintenance, and accounting

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels4 records

Core offering

Lakestone Properties is a real estate development and property management company that owns, develops, leases, and manages residential (apartments, townhomes, duplexes) and commercial properties across Dane County, Wisconsin. It also offers third-party property management services to outside owners and investors, operates a self-storage facility (Lakestone Storage), and runs a marina (Lakestone Marina). Operations are powered by the AppFolio property management platform with online resident and owner portals.

Product overview

Lakestone Properties is a property management and real estate development company serving the Greater Madison, WI area since 2010. The company operates a portfolio of residential and commercial properties across multiple Wisconsin communities (Deerfield, McFarland, Stoughton, Oregon, Sun Prairie, and Monona). Residential offerings include apartment complexes and townhomes under brand names like Autumn Wood Apartments, Blue Aster Apartments, and various community-specific property collections. Commercial properties include retail/commercial spaces at The Atwater Retail and Crawford's Landing. Additional services include self-storage facilities, marina services, and comprehensive property management for third-party property owners. The company leverages AppFolio property management software with an online resident portal for tenant services including rent payments and maintenance requests.

Differentiator

Problem solved

Functional benefit

Products and services

• Residential Rental Apartments, Townhomes, and Duplexes

Named customers2 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature4 records

Partnerships

Three partnerships are on record, tiered core and minor.

• AppFoliocoreTechnology or IntegrationAppFolio provides the property management software platform powering Lakestone Properties' operations including tenant portals, owner portals, rent collection, maintenance tracking, and applicant screening
• AppFolio Resident Portal Insurance PartnersminorChannel Partner/ Reseller/ DistributorThird-party renters insurance providers available through the AppFolio resident portal for tenants to easily purchase or submit proof of coverage
• U.S. Department of Housing and Urban Development (HUD)minorOthersLakestone Properties participates in the Equal Housing Opportunity program, displaying the EHO logo and adhering to fair housing guidelines

Scale indicators3 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• RPM Living: National multifamily property management firm with development services. Comparable as a third-party manager plus developer serving similar owners and tenants to Lakestone.
• Cardinal Group Management: Third-party multifamily property manager with development and investment arms. Comparable business model combining property management services with owned/developed assets.
• Bozzuto Group: Privately held multifamily developer, owner, and property manager with regional concentration in the Mid-Atlantic and Midwest. Comparable business model combining in-house development with third-party management services.
• Continental Properties: Privately held Midwest-based multifamily developer and operator. Comparable as a regional developer-manager with similar size and geographic focus on the Midwest.

Broad incumbents

• Extra Space Storage: National self-storage REIT. Comparable to Lakestone's self-storage operations on business model and customer base, though operating at national scale as a public company.
• Greystar Real Estate Partners: Largest apartment property manager and operator in the U.S., managing/owning ~$320B of assets. Comparable as a vertically integrated multifamily developer/manager, though at vastly greater scale and national footprint.
• Public Storage: Largest self-storage REIT/operator in the U.S. Comparable on the self-storage asset line (Lakestone Storage), though at vastly greater scale and as a public REIT.

Others

• AppFolio: Cloud-based property management software platform that powers Lakestone's operations. Comparable as a thematic enabler/tech peer in the property management stack, though not a direct competitor — Lakestone is a customer.
• Yardi Systems: Major property management software vendor competing with AppFolio. Comparable as a technology ecosystem player serving the same property management workflows Lakestone relies on.

Regional players

• McKenna Property Management: Wisconsin-based residential property management firm. Comparable as a regional peer offering property management services to owners and investors in overlapping Wisconsin markets.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/LakestoneProperties
• LinkedInlinkedin.com/company/lakestoneproperties

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 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 Lakestone Properties