Carter Multifamily Fund Management Company

Name

Carter Multifamily Fund Management Company

Legal name

Carter Funds

Website

https://cartermultifamily.com

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Product category

Multifamily Real Estate Investment Management

NAICS

Portfolio Management and Investment Advice (523940), Other Financial Vehicles (52599), Investment Banking and Securities Intermediation (523150)

SIC

Investment Advice (6282), Real Estate Investment Trusts (6798)

akta.pro primary industry

Real Estate Fundraising Placement (REPE/REIT/Property Funds) (FSAEALAD)

Keywords

• Multifamily real estate investment
• Private placement offerings
• DST 1031 exchange sponsor
• Value-add multifamily acquisitions
• Real estate fund management

Headquarters

HQ city

Tampa

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, Supply Chain, Others, Technology or R&D

Revenue model

1. Real Estate Investment Management Fees: Carter Multifamily generates revenue through management fees and promote structures associated with its private equity real estate funds and non-traded REIT sponsorships, including Carter Validus Mission Critical REITs which raised over $3.0 billion in equity.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Carter Multifamily acquires and develops value-add, garden-style multifamily communities in high-growth markets across the Southern and Mid-Atlantic United States, targeting workforce (Middle-Market America) renters. The firm raises capital from accredited investors via private placement multifamily investment funds, DST (Multi-Investor 1031 Exchange) sponsorships under the Carter Exchange brand, and structures related non-traded REIT vehicles. An affiliated property management subsidiary, Allegiant-Carter Management, manages the firm's apartment portfolio, and the firm applies a Value-Add Renovations Program to reposition garden-style assets for income and appreciation.

Product overview

Carter Multifamily is a real estate investment and management firm offering a unified platform for multifamily acquisitions and development. The company operates through several integrated sub-brands: Carter Exchange (a DST 1031 exchange sponsor), Allegiant-Carter Management (property management subsidiary), and a portfolio of owned multifamily properties including Allegra at Cocoa, Mode at Ballast Point, The Maxwell, Astoria, and Brighton Park. The firm also offers a Value-Add Renovations Program that strategically enhances garden-style multifamily properties to increase value and returns. The company targets high-growth markets across the Southern and Mid-Atlantic United States, focusing on workforce renters.

Differentiator

Problem solved

Functional benefit

Brands

• Carter Exchange: DST (Multi-Investor 1031) Sponsor offering exchange properties
• Aphorio Carter

Products and services

• Carter Multifamily Investment Funds Private placement real estate investment funds, offered to accredited investors via broker-dealers, RIAs, and family offices, that acquire and develop value-add garden-style multifamily communities in Southern and Mid-Atlantic U.S. markets targeting workforce renters.
• Carter Exchange (DST 1031 Sponsor) DST (Multi-Investor 1031) Sponsor program offering 1031 exchange investment opportunities in multifamily and other Carter-sponsored real estate for accredited investors seeking tax-deferred like-kind exchanges.
• Allegiant-Carter Management (Property Management) Third-party-style property management services for Carter Multifamily's apartment communities, led by President Ray L. Hutchinson.
• Value-Add Renovations Program Strategic enhancement program applied to garden-style multifamily properties to increase asset value and investor returns through operational improvements and asset repositioning.

Quantifiable outcome

• $89 billion in multifamily transactions executed
• +2 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered core.

• The Brownstone GroupcoreStrategic or Co-development PartnerCo-development partner with Carter Multifamily on the Allegra at Cocoa project, a $65.3 million, 312-unit multifamily community in Cocoa, Florida. The Brownstone Group collaborated on this value-add multifamily development on Florida's Space Coast.
• Marble CapitalcoreStrategic or Co-development PartnerCo-development partner with Carter Multifamily on the Allegra at Cocoa project. Marble Capital participated in the $65.3 million development spanning 13 residential buildings totaling 312 units on Florida's Space Coast.
• Allegiant-Carter ManagementcoreOthersProperty management affiliate of Carter Multifamily that manages the company's multifamily portfolio including properties like Allegra at Cocoa. Ray L. Hutchinson serves as President of Allegiant-Carter Management while also serving as CIO of Carter Funds.

Scale indicators8 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• Mid-America Apartment Communities: Public Sun Belt-focused multifamily REIT (MAA) operating garden-style apartment communities across the high-growth Southern US. Highly comparable to Carter Multifamily given its geographic concentration in the same Southern markets and similar workforce / value-add orientation.
• Independence Realty Trust: Public multifamily REIT focused on non-gateway Sun Belt markets with a value-add acquisition and renovation strategy. Closely matches Carter Multifamily's secondary/tertiary market focus, workforce renter base, and value-add investment thesis.
• Camden Property Trust: Public multifamily REIT with significant Sun Belt exposure (Texas, Florida, Georgia, Carolinas) operating garden-style apartment communities. Comparable in property type, geography, and renter demographic to Carter Multifamily's portfolio.
• Bluerock Residential Growth REIT: Non-traded multifamily REIT sponsor pursuing value-add acquisitions in high-growth US markets. Highly comparable in product structure (non-traded REIT), strategy (value-add), and target investor base to Carter Funds' offerings.
• ExchangeRight: DST and managed non-traded REIT sponsor focused on net-leased and multifamily 1031 exchange offerings distributed through broker-dealers. Direct competitor to Carter Exchange in the 1031/DST sponsor space and even a former employer of EVP Weldon Evans.

Broad incumbents

• Blackstone Real Estate (BREIT): Largest global private real estate investor with a major multifamily franchise including non-traded REIT (BREIT) products distributed through broker-dealers. Competes for institutional and high-net-worth capital in the same private placement multifamily market.
• Starwood Capital Group: Major private real estate investment firm with a long history of multifamily investing and non-traded REIT sponsorship (e.g., Starwood Property Trust). Operates in the same private real estate fund and DST/non-traded REIT space as Carter Funds.
• Greystar Real Estate Partners: Largest US multifamily property management and investment firm, with deep operating capability in Sun Belt markets. Comparable as both a competitor for capital deployment and as an operating partner / property management peer to Allegiant-Carter Management.
• Ares Real Estate: Large alternative asset manager with a US-focused multifamily equity and credit platform, raising capital from institutional and wealth channels. Competes for capital and acquisitions in the same multifamily value-add space.

Emerging players

• RangeWater Real Estate: Private multifamily acquisition, development, and property management firm focused on the Sun Belt. Comparable in scale and strategy to Carter Multifamily as a regional value-add and development operator in similar geographies.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights5 records

Customer concentration

• Facebookfacebook.com/CarterFundsLLC
• LinkedInlinkedin.com/company/carter-funds

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 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 Carter Multifamily Fund Management Company