What RealAmerica does

RealAmerica is a privately held, founder-owned Women Business Enterprise (WBE) certified real estate development and management firm headquartered in Indianapolis, Indiana. Founded in 1995 by CEO Ronda Shrewsbury, the company operates an integrated four-division platform spanning Development, Construction, Property Management, and Design, with cumulative development of $350M+ in real estate, 2,800+ housing units created, and a current portfolio of 19 properties across Indiana and Colorado. The firm is WBE-certified and has won the IHCDA Lieutenant Governor's Excellence in Affordable Housing Award seven times.

The company serves three primary customer segments: affordable housing seekers (families and individuals earning at or below 80% of area median income, served through LIHTC-financed developments), senior living residents (active 55+ seniors including the "Missing Middle" income bracket served via a concierge model), and conventional/market-rate renters, alongside commercial tenants. The integrated design-build-manage model is supported by 878 unique in-house floor plans, enabling customization across affordable, senior, conventional, and adaptive reuse product types. Managed properties report an average 97% occupancy.

RealAmerica's revenue model combines development fees and equity returns from ground-up development (leveraging LIHTC tax credit syndication), WBE-certified general contracting construction services, and ongoing property management fees. The go-to-market is sales-led and partnership-driven, working with 50+ municipalities (Indianapolis, South Bend, Fishers, Columbus), state housing authorities (IHCDA), financial institutions (Boston Capital, Redstone Equity Partners, Fifth Third Bank, First Financial, Merchants Capital, PR Mortgage, City Securities, The National Bank of Indianapolis), and service-provider non-profits (Sheltering Wings, Stone Belt, Janus Developmental Services, Cummins Behavioral Health) to secure land, tax credits, and entitlements. In 2020, Shrewsbury also established Legacy 25, a non-profit affiliate focused on affordable housing.

Name

RealAmerica

Legal name

REALAMERICA Development, LLC

Website

https://realamericallc.com

Company type

Private

Founded year

1995

Operating status

Operating

Headcount range

11–50 employees

Short description

RealAmerica is a Women Business Enterprise-certified, founder-owned real estate developer and property manager headquartered in Indianapolis, Indiana, providing integrated design, development, construction, and management services for affordable housing, senior living, market-rate, and commercial properties across Indiana and Colorado.

Ownership category

akta.pro rank

Product category

Affordable Housing Development & Property Management

NAICS

Residential Property Managers (531311), Nonresidential Property Managers (531312), Rental and Leasing Services (532)

SIC

Real Estate Dealers (For Their Own Account) (6532), Land Subdividers & Developers (No Cemeteries) (6552), General Bldg Contractors - Residential Bldgs (1520), Real Estate Agents & Managers (For Others) (6531)

akta.pro primary industry

Residential Real Estate Asset Management (BPAJAMAA)

akta.pro secondary industry

Independent Living Real Estate Owners/Operators (REITs & Management Companies) (HLADAAAG)

Keywords

• Affordable housing development
• Real estate development
• Property management services
• Senior living apartments
• Construction management services

Headquarters

HQ city

Indianapolis

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Real Estate Development: Development fees and equity returns from ground-up property development including affordable housing, senior living, conventional apartments, self-storage, commercial, and mixed-use properties. Revenue generated through tax credit syndication, construction management, and long-term property ownership.
2. Construction Services: As a WBE-certified general contractor with nearly 40 years of experience, RealAmerica delivers construction projects on-time and on-budget. Revenue from construction management, pre-construction planning, on-site supervision, and construction safety services.
3. Property Management: Ongoing property management services including human resources, utilities, budgeting, monitoring, maintenance, community policy development, 24-hour emergency response, contract negotiation, accounting, and record-keeping. Revenue from management fees and the operation of owned properties with average 97% occupancy.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

RealAmerica is an integrated real estate development company that develops, constructs, and manages affordable housing, senior living, conventional market-rate apartments, and commercial properties. The company offers four core service lines: real estate development (site selection, financial analysis, tax credit syndication, and entitlement), construction services (general contracting, pre-construction planning, and on-site supervision), property management (leasing, maintenance, concierge services, and 24/7 emergency response), and architectural design (custom floor plans, historic preservation, and adaptive reuse). With $350M+ in real estate developed and 2,800+ homes managed, the company operates as a WBE-certified firm across Indiana and Colorado.

Product overview

RealAmerica is a certified Women’s Business Enterprise providing integrated real estate development, construction, property management, and design services. The company operates four divisions that work together to create and maintain high-quality properties: Development, Construction, Property Management, and Design. The portfolio includes affordable housing, senior living, conventional multi-family apartments, and commercial properties. Key property types include 41 North Senior Living in Fort Wayne, Ritchey Reserve luxury senior living in Fishers, SouthPointe Village affordable housing in Fishers, and various affordable housing developments across Indiana and Colorado. The company has developed over $350M in real estate and manages approximately 2,800 homes with 60% average occupancy.

Differentiator

Problem solved

Functional benefit

Products and services

• Development Services Real estate development services including site selection, financial analysis, tax credits, loan negotiation, entitlements, and project specifications for affordable housing, multi-family, senior living, commercial, and mixed-use properties. Identifies new development opportunities, prepares tax credit applications, secures entitlements and incentives, and structures debt and equity.
• Construction Services Full-scale construction services including pre-construction planning, construction management, on-site supervision, and safety compliance. Delivered as a WBE-certified general contractor with nearly 40 years of experience delivering projects on-time and on-budget.
• Property Management Services Comprehensive property management including leasing, maintenance, marketing, concierge services, and resident relationship management. Provides 24-hour emergency response, human resources, utilities, budgeting, contract negotiation, accounting, and record-keeping. Team is certified in mental health first aid. Average 97% occupancy across managed portfolio.
• Design Services Architectural design services including design and as-built drawings, site selection and feasibility studies, historic preservation, adaptive reuse, and design consulting. The in-house team has designed 878 unique floor plans across property types.
• Affordable Housing Portfolio Quality affordable apartment homes for families with incomes at 80% or less of area median income, featuring amenities, community resources, and access to public transportation, schools, and local services. Properties typically utilize LIHTC tax credit programs.
• Senior Living Portfolio Senior living apartments for active seniors ages 55+ including independent living with luxury amenities at moderate price points, concierge services, and specialized care options. Targets the "Missing Middle" market—seniors who don't qualify for affordable housing but cannot afford luxury senior living.
• Conventional Apartments Market-rate multi-family apartments, urban lofts, executive apartments, and adaptive reuse properties featuring stand-out design and luxury details in desirable locations.
• Commercial Real Estate Commercial property development, construction, and management including mixed-use properties, adaptive reuse of historic structures, and land for development. Serves healthcare, retail, and professional service tenants.

Quantifiable outcome

• Average 97% occupancy across managed properties
• +3 more outcomes

Named customers7 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

13 partnerships are on record, tiered core.

• Area IV Agency on Aging and Community Action ProgramscoreStrategic or Co-development PartnerPartnership to develop and manage H38 East Apartments, offering Life Skills Program that coaches residents on life goals and connects them to resources including employment services.
• Sheltering WingscoreStrategic or Co-development PartnerNon-profit partner at Haven Homes providing supportive services for families in need, helping residents achieve independence and stability.
• Cummins Behavioral Health SystemscoreStrategic or Co-development PartnerPartner at Haven Homes providing behavioral health services and support for residents.
• Stone BeltcoreStrategic or Co-development PartnerService provider partnership at Retreat at the Switchyard providing supportive housing services for individuals with disabilities.
• Janus Developmental ServicescoreStrategic or Co-development PartnerPartner at SouthPointe Village providing services for individuals with disabilities in Fishers, IN.
• Opportunities for Positive GrowthcoreStrategic or Co-development PartnerPartner at SouthPointe Village providing services for individuals with disabilities.
• Outside the BoxcoreStrategic or Co-development PartnerPartner at SouthPointe Village providing community-based services for individuals with disabilities.
• The Logan CentercoreStrategic or Co-development PartnerCommunity resource partner for Diamond View Apartments in South Bend, providing services for residents including those with intellectual disabilities.
• City of South Bend, INcoreStrategic or Co-development PartnerMunicipal partnership for Diamond View Apartments and Stadium Flats developments, providing tax increment financing and community support.
• City of Fishers, INcoreStrategic or Co-development PartnerMunicipal partner for SouthPointe Village and other affordable housing developments in Hamilton County.
• Indiana Housing & Community Development Authority (IHCDA)coreStrategic or Co-development PartnerState housing authority providing tax credits, grants, and regulatory support for affordable housing developments. Awarded 7x Lieutenant Governor's Excellence in Affordable Housing Awards.
• Indiana Affordable Housing CouncilcoreStrategic or Co-development PartnerIndustry organization providing advocacy and networking for affordable housing developers in Indiana.
• Associated Builders and Contractors (ABC)coreStrategic or Co-development PartnerTrade organization that awarded RealAmerica Excellence Awards for innovative construction and design creativity.

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Dominium: Minneapolis-based affordable housing developer and manager specializing in LIHTC-financed apartments across the Midwest and Sun Belt. Closely comparable in segment focus (affordable), geography overlap, and integrated development-to-management operating model.
• McCormack Baron Salazar: National affordable housing developer specializing in urban revitalization, supportive housing, and mixed-income communities. Comparable mission-driven approach, LIHTC expertise, and integration of supportive services into affordable developments.
• Herman & Kittle Properties: Indianapolis-headquartered developer, builder, and manager of affordable and market-rate multifamily. Direct local competitor with similar LIHTC expertise, Indiana concentration, and integrated construction/property management divisions.
• Flaherty & Collins Properties: Indianapolis-based multifamily developer specializing in mixed-income, affordable, and market-rate apartments with in-house development, construction, and property management. Direct Midwest peer with overlapping customer base.
• The Michaels Organization: National affordable and workforce housing developer with one of the largest LIHTC portfolios in the U.S. Comparable vertically integrated model with development, construction, and property management under one platform.
• Pedcor Companies: Indiana-based real estate developer with significant affordable housing, senior living, and market-rate multifamily portfolios. Comparable geographic concentration and LIHTC-driven affordable housing strategy.
• The NRP Group: Cleveland-based affordable and market-rate multifamily developer, developer, and property manager with a national footprint. Highly comparable vertically integrated model developing LIHTC-funded affordable housing and managing stabilized portfolios.
• BRIDGE Housing: Nonprofit affordable housing developer and manager on the West Coast with deep LIHTC expertise and resident services model. Comparable integrated development/management approach with similar mission-driven affordable focus.
• Lincoln Avenue Communities: Mission-driven affordable housing developer focused exclusively on LIHTC new construction across multiple states. Comparable in tax credit expertise and resident service partnerships, though typically larger institutional scale.

Broad incumbents

• The Related Companies: National mega-developer with a major affordable housing arm (Related Affordable) managing one of the largest LIHTC portfolios in the country. Overlaps in affordable housing but operates at vastly larger scale and broader geography.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCWe1yyMqsm4dEy8r6Ty_WMw
• Facebookfacebook.com/RealAmericaCompanies
• LinkedInlinkedin.com/company/realamerica-companies
• Xx.com/RealAmericaLLC

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries1 record

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 RealAmerica