Cathcart Group

What Cathcart Group does

Cathcart Group is a privately held, family-owned, fully integrated multifamily real estate company founded in 1984 by Rip Cathcart as Cathcart Properties and rebranded to its current name in 2010. Headquartered in Charlottesville, Virginia, the company operates three wholly owned subsidiaries — Cathcart Development (land acquisition, entitlements, and project financing), Cathcart Construction (pre-construction and construction services established 2007), and Cathcart Property Management (in-house operations for luxury apartment communities) — and runs a senior living arm (Bellaire) that has been leased to a third-party operator since 2022. As of 2025, Cathcart owns over 2,200 luxury apartment units in Virginia with 271 units under construction (The Wentworth, Harrisonburg) and more than 1,000 additional units in planning across Virginia, Alabama, Montana, and additional Virginia markets, supported by AUM exceeding $500 million.

The company's portfolio targets renters-by-choice — young professionals, graduate students, professors, medical professionals, empty nesters, and retirees — in mid-size, high-growth MSAs underserved by premium rental product. Properties are differentiated by resort-style amenities (saltwater pools, clubhouses with chef's kitchens, fitness centers, golf simulators, dog parks/spas, EV charging, theaters) and high-end finishes, with rents ranging from approximately $1,040 to $2,700 per month for apartments and $3,600 to $6,000 per month for assisted living. Revenue is generated through monthly rental income on owned units, construction and development services, property management fees, and passive equity participation from investment partners who reinvest on a long-term hold basis.

Cathcart is led by Chairman Rip Cathcart and CEO Todd Dofflemyer (CEO since 2009, with a career track record of $750M+ in construction oversight across 3,000+ units), supported by a veteran executive team including Presidents of Construction and Property Management and a CFO. The company transitioned to a multi-generational family business in 2021 with second-generation family members in land acquisitions and marketing. It currently operates across Virginia, West Virginia, Alabama, and Montana, and continues to expand through land acquisition and new community development.

Name

Cathcart Group

Legal name

Cathcart Group

Website

https://cathcartgroup.com

Company type

Private

Founded year

1984

Operating status

Operating

Headcount range

101–250 employees

Short description

Cathcart Group is a privately held, family-owned multifamily real estate company that develops, constructs, and manages luxury apartment communities across Virginia, West Virginia, Alabama, and Montana. Founded in 1984 and headquartered in Charlottesville, VA, it owns over 2,200 units with 271 under construction and 1,000+ in planning.

Ownership category

akta.pro rank

Headquarters

HQ city

Charlottesville

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Luxury Apartment Rental Income: Cathcart Group owns and operates over 2,200 luxury apartment units across Virginia. Revenue is generated through monthly rental payments from residents at owned properties.
2. Property Development Services: The company develops luxury multifamily communities for its own portfolio and potentially for investment partners, generating development fees and increasing assets under management.
3. Construction Services: Cathcart Construction provides pre-construction and construction services for multifamily projects, both for company-owned developments and potentially external clients.
4. Property Management Services: Cathcart Property Management provides award-winning property management services for its in-house portfolio of luxury apartment communities, managing over 2,700 units.
5. Senior Living Operations: The company develops and operates senior independent and assisted living communities, including Bellaire at Stone Port and Bellaire at Devonshire facilities.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels7 records

Core offering

Cathcart Group is a fully integrated multifamily real estate company that develops, constructs, and manages luxury apartment communities across Virginia and select other states. The company owns and operates over 2,200 luxury apartment units and provides award-winning property management for a portfolio exceeding 2,700 units, with additional senior assisted living and memory care facilities under the Bellaire brand.

Product overview

Cathcart Group is a fully integrated real estate company comprising three core business lines: Cathcart Development (land acquisition, entitlements, and project financing), Cathcart Construction (pre-construction and construction services for multifamily properties), and Cathcart Property Management (award-winning management for luxury apartment communities). The portfolio includes multiple named apartment sub-brands—The Reserve at Belvedere, The Reserve at Stone Port, The Reserve at Rivington, The Reserve at Daleville, The Wentworth, The Gallery at Godwin, Carriage Hill, and Lakeside Apartments—plus specialty properties (Bellaire assisted living communities), upcoming developments (The Reserve at Winchester, The Gallery at South Peak, The Reserve at Rangeline, Sapphire Place), and the Cathcart Club resident rewards program. The company owns over 2,200 units in Virginia with 271 under construction and over 1,000 units in planning stages.

Differentiator

Problem solved

Functional benefit

Products and services

• Cathcart Development Real estate development services focused on crafting upscale multifamily communities in high-growth metropolitan statistical areas. Handles land acquisition, site selection, entitlements, zoning, and project financing for luxury apartment developments.
• Cathcart Construction Provides pre-construction and construction services with specific focus on multifamily construction. Offers oversight from concept to completion including planning, design coordination, budgeting, scheduling, contractor coordination, quality control, and code compliance.
• Cathcart Property Management Award-winning property management services for luxury apartment communities across Virginia and West Virginia. Provides customer service, lease management, maintenance, resident relations, and technology-enabled operational efficiency for the in-house portfolio of more than 2,700 units.
• Bellaire at Stone Port 88-unit senior assisted living and memory care community in Harrisonburg, VA, featuring 64 assisted living apartments and 24 memory care apartments with 24/7 care, wellness programs, therapy, theater, and secured courtyard.
• Bellaire at Devonshire 88-unit senior assisted living and memory care community in Scott Depot, WV, featuring 64 assisted living apartments and 24 memory care apartments with round-the-clock care, wellness programs, and dining services.
• The Reserve at Belvedere 294-unit luxury apartment community in Charlottesville, VA featuring a 16,000 sq ft clubhouse, saltwater pool, fitness center, theater, and garage options, catering to renters-by-choice.
• The Wentworth 271-unit luxury apartment community in Harrisonburg, VA completed in 2025. A mix of midrise, garden-style, and carriage houses featuring a golf simulator, resort pool, theater, EV charging, and smart home features for renters-by-choice.
• The Reserve at Stone Port 408-unit luxury apartment community in Harrisonburg, VA (Phase I 168 units in 2015; Phase II 240 units in 2018). Non-undergrad community featuring an 8,600 sq ft clubhouse, two pools, fitness center, movie theater, and dog parks.
• The Reserve at Rivington 321-unit luxury apartment and townhome community in Chester, VA (Phase I 276 units 2021; Phase II 45 townhomes 2024). Features a 6,800 sq ft clubhouse, saltwater pool, EV charging, and Fitness-on-Demand studio.
• The Reserve at Daleville 188-unit luxury apartment community in Daleville, VA with a 6,200 sq ft clubhouse with chef's kitchen, saltwater pool, fitness center, movie theater, 4,000 sq ft dog park, and mountain views. Monthly rents starting at $1,040.
• The Gallery at Godwin 255-unit luxury podium-style mixed-use apartment community in Suffolk, VA with 16,000+ sf of retail space, featuring granite countertops, stainless-steel appliances, saltwater pool, dog spa, theater, and fitness center.
• Carriage Hill 304-unit luxury apartment community in Charlottesville, VA (Phase I 164 units 2000; Phase II 140 units 2002). Features resort-style pool, fitness center, and multi-purpose court.
• Lakeside Apartments 348-unit luxury apartment community in Charlottesville, VA (Phase I 148 units 1995; Phase II 200 units 1997). Pet-friendly community situated next to a 12-acre lake with beach and mountain views.

Quantifiable outcome

• 98-99% occupancy rates at The Reserve at Stone Port Phase I
• +3 more outcomes

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Seven partnerships are on record, tiered minor and core.

• Stoneleigh Associates LLCminorStrategic or Co-development Partner · 7 August 2017Stoneleigh Associates LLC owns land within the Stone Port development and applied for permits to enable the expansion of The Reserve at Stone Port Phase II.
• Beacon CommunitiescoreStrategic or Co-development Partner · 6 April 2016Beacon Communities contracted to manage Bellaire at Stone Port and Bellaire at Devonshire assisted living and memory care facilities owned by Cathcart Group. Trained staff at identical Devonshire facility before opening Stone Port location.
• Belvedere Neighborhood CommunityminorStrategic or Co-development Partner · 3 May 2013The Reserve at Belvedere is part of the larger Belvedere planned community developed by Stonehaus Development, creating an integrated neighborhood with pedestrian-friendly design and diverse housing options.
• Stonehaus DevelopmentcoreStrategic or Co-development Partner · 11 February 2010Stonehaus Development sold 16 acres in Belvedere neighborhood to Cathcart Properties for development of The Reserve at Belvedere. The partnership positioned the project within a vibrant, walkable community with diverse housing, office and retail uses.
• Cox, Kliewer & Company, P.C.minorStrategic or Co-development PartnerArchitecture firm developed renderings for The Reserve at Winchester development project.
• Winks Snowa Architects P.C.minorStrategic or Co-development PartnerArchitecture firm developed renderings for The Gallery at South Peak development project.
• Parker Associates Tulsa, LLCminorStrategic or Co-development PartnerArchitecture firm developed renderings for Sapphire Place development project in Missoula, Montana.

Scale indicators9 records

Recent moves15 records

Expansion highlights6 records

Direct peers

• Gumenick Properties: Virginia-based luxury multifamily developer, owner, and manager. Both CEO Todd Dofflemyer and Construction President Steve Northcott previously held executive roles at Gumenick, and the company shares a comparable luxury multifamily, mid-Atlantic operating model.
• The Bozzuto Group: Integrated multifamily developer, builder, and property manager headquartered in the Mid-Atlantic region. Closely mirrors Cathcart's develop-build-manage structure and focuses on Class A apartment communities in mid-size East Coast MSAs.

Broad incumbents

• Lincoln Property Company: Top-tier national multifamily property manager and developer with significant Mid-Atlantic operations. Provides an overlapping managed-services offering and competes for the same institutional investor capital that Cathcart's partner model depends on.
• AvalonBay Communities: Large-cap multifamily REIT with a deep presence across the Mid-Atlantic including Northern Virginia and Charlottesville-adjacent markets. Directly competes for luxury renter-by-choice tenants and for development sites in Cathcart's target MSAs.
• Greystar Real Estate Partners: The largest multifamily property manager and a major developer/investor in the U.S. Operates at a national scale that exceeds Cathcart's regional footprint and competes for third-party management contracts on Class A assets in the Mid-Atlantic.
• Mid-America Apartment Communities: Sun Belt-focused multifamily REIT. Comparable as a Class A multifamily owner/operator with a long-term hold strategy, although concentrated in faster-growing southern metros rather than Cathcart's Mid-Atlantic footprint.
• Equity Residential: Large-cap multifamily REIT with a portfolio of urban and suburban Class A apartments. Competes for the same renter-by-choice demographic in high-cost-of-living coastal markets and represents a benchmark for institutional-scale luxury operations.

Emerging players

• BRT Apartments Corp. Smaller multifamily REIT that owns and manages Class A garden-style apartment communities through joint ventures. Operates with a similar partner-capital, long-hold model in select Sun Belt markets, paralleling Cathcart's investment-partner approach.
• Independence Realty Trust: Sun Belt multifamily REIT focused on workforce and Class B/B+ communities. Comparable as a multifamily owner/operator pursuing a long-term hold strategy, though at a different price point than Cathcart's luxury focus.

Regional players

• JBG SMITH: DC-metro-focused multifamily and mixed-use REIT. Operates Class A apartment communities in the same Mid-Atlantic region as Cathcart and competes for renter-by-choice tenants moving along the I-95/I-64 corridor into Virginia.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/cathcartgroupcville
• LinkedInlinkedin.com/company/the-cathcart-group/mycompany
• Instagraminstagram.com/cathcartgroup

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries4 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 Cathcart Group