FiveStone Group

What FiveStone Group does

FiveStone Group, LLC is a privately held, family-owned commercial real estate development firm headquartered at 2130 Highland Avenue South in Birmingham, Alabama. Founded in 2015, the company operates as a boutique developer offering an integrated service suite across three lines: land development (Class A office, hospitality, mixed-use, and historic redevelopment), commercial brokerage and leasing, and legal/zoning advisory covering entitlements, TIF/PIF financing, new market historic tax credits, and tax share-back agreements.

The firm is led by President David Silverstein, who previously spent more than 25 years as a principal at Bayer Properties before founding FiveStone, supported by his son David Silverstein Jr. (Associate, overseeing legal and advisory) and Michael Reilly (Associate, managing brokerage and deal procurement). Notable delivered projects include a 30,000-square-foot Class A office building in Homewood, AL leased to Morgan Stanley (completed 2025, opened June 2026), the Old Cloverdale Village retail rehabilitation in Montgomery anchored by Big Bad Breakfast (April 2026), and a track record of Summit-branded mixed-use developments in Birmingham, Reno, Fort Collins, and Louisville, plus the Pizitz historic property in downtown Birmingham. The pipeline includes the 2222 Arlington Class A office redevelopment and The Tramont Hotel & Residences luxury hotel project in partnership with Origin Hotel Group, with groundbreaking anticipated in early 2027.

FiveStone's customers are primarily large corporations and municipal governments served through relationship-driven, direct enterprise sales. Public-private partnerships with the Cities of Birmingham, Montgomery, Lexington, Reno, and Fort Collins anchor the project pipeline, complemented by enterprise tenants such as Morgan Stanley, Whole Foods, Origin Hotel Group, and Big Bad Breakfast. Revenue is generated through one-time development fees and property sales, transaction-based brokerage commissions, and professional services fees for legal and zoning advisory, with no disclosed pricing model or public financial statements.

Name

FiveStone Group

Legal name

FiveStone Group, LLC

Website

https://fivestonegroup.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

11–50 employees

Short description

FiveStone Group is a family-owned Birmingham, Alabama commercial real estate firm developing Class A office, mixed-use, hospitality, and historic projects through integrated land development, brokerage, and legal/zoning advisory services for enterprise tenants and municipal partners.

Ownership category

akta.pro rank

Product category

Commercial Real Estate Services

NAICS

Offices of Real Estate Agents and Brokers (53121), Lessors of Other Real Estate Property (53119), Other Activities Related to Real Estate (53139)

SIC

Real Estate Agents & Managers (For Others) (6531), Real Estate Dealers (For Their Own Account) (6532)

akta.pro industry

PRIMARYFSAEAJAE

New Development & Project Marketing (Pre-Construction Sales)

Financial & Insurance/Financial Advisory, Brokerage & Intermediation/Real Estate Advisory & Brokerage

SECONDARYBPAJAKAK

Tax Assessment Appeal & Property Tax Consulting

Business & Public Services/Real Estate Services (Brokerage, Property Management)/Real Estate Valuation & Appraisal Services

Keywords

• Commercial real estate
• Land development
• Property brokerage
• Real estate advisory
• Boutique residences

Headquarters

HQ city

Birmingham

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales

Revenue model

1. Land Development: Development of commercial real estate projects including office buildings, hotels, mixed-use developments, and retail properties. Revenue generated through development fees, property sales, and long-term asset ownership.
2. Brokerage Services: Commercial real estate brokerage including leasing and site selection for tenants. The firm manages an independent brokerage business providing high-touch brokerage services for client partners.
3. Advisory Services: Advisory services for legal and zoning matters including entitlements, ordinance requirements, variances in zoning, landscaping, traffic and parking. Also includes assistance with TIF and PIF financing, new market historic tax credits, and tax share back agreements.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

FiveStone Group is a family-owned commercial real estate firm in Birmingham, Alabama that delivers land development, commercial brokerage, and legal and zoning advisory services, alongside the development of high-end boutique residential and commercial properties for business and government clients.

Product overview

FiveStone Group is a commercial real estate firm offering an integrated suite of services including land development, commercial brokerage, and legal/zoning advisory. The company develops Class A office buildings, luxury hotels, and mixed-use properties in the Birmingham, Alabama area and select markets. Notable projects include 740 Shades Creek Parkway (Class A office leased to Morgan Stanley), 2222 Arlington (Class A office redevelopment), The Tramont Hotel & Residences (luxury hotel and residences), 2130 Highland Ave South (owner-occupied boutique building), and Old Cloverdale Village (historic retail rehabilitation). The firm approaches each project with an ownership perspective, delivering excellence through public-private partnerships, tax credit financing, and entitlements. Services are delivered through three core offerings: Land Development Services, Commercial Brokerage Services, and Legal and Zoning Advisory Services.

Differentiator

Problem solved

Functional benefit

Products and services

• Land Development Site planning and development services for commercial land projects, serving developers, businesses, and government entities in Alabama.
• Commercial Brokerage Brokerage services for commercial property transactions, serving business buyers, sellers, and developers in the Alabama market.
• Legal and Zoning Advisory Advisory services covering legal and zoning matters for commercial and residential real estate projects, supporting developers and property owners navigating Alabama regulations.
• High-end Boutique Residential Development Development of high-end boutique residences in the Birmingham, Alabama market, serving affluent individual buyers and investors.
• Commercial Property Development Development of commercial real estate properties in Alabama, serving business tenants, investors, and government entities.

Named customers4 records

Segments3 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Eight partnerships are on record, tiered core and minor.

• D&A CompaniescoreStrategic or Co-development PartnerJoint development partner on multiple major projects including 2222 Arlington (Class A office redevelopment), The Tramont Hotel & Residences, and Old Cloverdale Village in Montgomery.
• HOAR ConstructioncoreImplementation/ SI/ Consulting PartnerPrimary construction contractor for FiveStone Group development projects including 740 Shades Creek Parkway (Morgan Stanley headquarters).
• City of BirminghamcoreStrategic or Co-development PartnerMunicipal government partner for urban development projects and public-private partnerships in Birmingham, Alabama.
• City of MontgomerycoreStrategic or Co-development PartnerMunicipal partner for Old Cloverdale Village development including streetscape improvements with updated lighting, landscaping, and new sidewalks.
• Birmingham-Jefferson Convention ComplexminorStrategic or Co-development PartnerPartnership relationship with major Birmingham convention and entertainment venue for development coordination.
• Sarofim Realty AdvisorsminorStrategic or Co-development PartnerRealty advisory partner for key client relationships.
• Origin Hotel GroupcoreStrategic or Co-development PartnerHotel development partner for The Tramont Hotel & Residences luxury hotel project in Birmingham.
• Brasfield & GorrieminorImplementation/ SI/ Consulting PartnerConstruction contractor partner for major commercial projects.

Scale indicators3 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• Bayer Properties: Birmingham-based commercial real estate development and investment firm where FiveStone founder David Silverstein served as principal for 25+ years. Operates in the same geography and asset classes (mixed-use, retail, Class A office), making it the closest comparable for boutique CRE development in Central Alabama.
• Jim Wilson & Associates: Large Birmingham/regional commercial and residential developer with deep municipal relationships across the Southeast. Directly comparable to FiveStone as a long-tenured, relationship-driven development firm operating in overlapping Alabama markets.
• North American Properties: Southeast-focused mixed-use developer specializing in walkable retail and lifestyle centers, including projects similar to Old Cloverdale Village and The Summit concept. Direct overlap with FiveStone's retail and mixed-use development pipeline.
• Crosland: Southeast U.S. real estate developer with expertise in mixed-use, retail, and multifamily. Closely comparable to FiveStone as a regional, relationship-driven developer with mixed-use and historic rehabilitation experience.
• Pope & Land Enterprises: Southeast-based commercial real estate developer and investor focused on office, industrial, and mixed-use projects. Comparable to FiveStone on the Class A office and mixed-use dimensions, particularly in the regional Southeast market.
• D&A Companies: Co-development partner with FiveStone on 2222 Arlington, The Tramont, and Old Cloverdale Village. Comparable as a Birmingham-area commercial real estate development and investment firm with mixed-use and historic rehabilitation expertise.

Broad incumbents

• Trammell Crow Company: One of the largest diversified commercial real estate developers in the U.S., with significant office, mixed-use, and healthcare development. Comparable to FiveStone on the development and public-private partnership dimensions, but at far greater scale and geographic breadth.
• Highwoods Properties: Public REIT focused on Class A office properties in the best-performing Sun Belt markets. Comparable to FiveStone on the Class A office development and Sun Belt focus, but at much larger scale and as a public landlord rather than boutique developer.

Emerging players

• Branch Properties: Atlanta-based retail and mixed-use developer with a focus on grocery-anchored and community-serving centers. Comparable to FiveStone's retail-anchored developments such as Cahaba Village (Whole Foods anchor) and Old Cloverdale Village.
• Origin Hotel Group: Active co-development partner on FiveStone's The Tramont Hotel & Residences luxury hospitality project. Comparable as a boutique hospitality developer focused on luxury, lifestyle, and urban resort-style hotels in secondary markets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

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 FiveStone Group