Halverson & Blaiser Group

What Halverson & Blaiser Group does

Halverson and Blaiser Group, Ltd. (HBG) is a privately held, family-controlled real estate property management and development firm headquartered in the Minneapolis-St. Paul metropolitan area, founded circa 1994 (with firmographic data pointing to 1988) and led by President & CEO Clinton T. Blaiser alongside James S. Halverson as President & CEO of the HBG Development arm. The company operates three integrated lines of business: multi-family residential property management of over 6,000 apartment units spanning Class A, B, and C properties across both market-rate and affordable categories; full-service commercial property management covering over 600,000 square feet of office and mixed-use space, including leasing and tenant improvement oversight; and real estate development and lease-up management provided to outside investors and partners, with HBG often taking co-ownership or partnership stakes in the underlying assets.

HBG generates revenue through a combination of third-party property management fees charged to property investors and developers, rental income from properties it partially owns (notably the Pioneer Endicott mixed-use tower in downtown St. Paul, the Northwestern Building, Metro Executive Center, Osborn 370, Hamm Building, and The Wycliff among commercial assets), and development economics/equity returns from joint ventures with developers such as PAK Properties, The Wall Companies, and JO Companies on projects including The Station, The Flats, Lakefield, The Hollows, Marshall Avenue Flats, Wangstad Commons, Harbourline, and Bridgewell. The customer base is exclusively B2B — institutional and individual property investors, commercial landlords, and developers — with no consumer-facing product and no software or technology offering. Go-to-market is anchored in regional relationships cultivated over 30+ years, supported by a corporate website (hbgltd.com), direct outreach, and partnership-driven deal flow; pricing is not publicly disclosed and is structured per asset. HBG maintains approximately 51-100 employees and operates from offices in Bloomington and St. Paul, with a stated operating footprint spanning the Midwest and select Southeast markets (e.g., Cambridge, MN, and a referenced Southeast region).

Name

Halverson & Blaiser Group

Legal name

Halverson and Blaiser Group, Ltd.

Website

https://hbgltd.com

Company type

Private

Founded year

1994

Operating status

Operating

Headcount range

51–100 employees

Short description

Halverson & Blaiser Group is a privately held, family-controlled Minneapolis-St. Paul real estate firm that manages over 6,000 multifamily units and 600,000 square feet of commercial space, and develops affordable and market-rate apartments alongside partner developers in the Twin Cities.

Ownership category

akta.pro rank

Product category

Real Estate Property Management

NAICS

Residential Property Managers (531311), Lessors of Residential Buildings and Dwellings (53111), Lessors of Nonresidential Buildings (except Miniwarehouses) (531120)

SIC

Operators Of Apartment Buildings (6513), Operators Of Nonresidential Buildings (6512), Real Estate Agents & Managers (For Others) (6531)

akta.pro primary industry

Multifamily Apartment Property Management (BPAJAFAA)

akta.pro secondary industries

Affordable & Subsidized Housing Property Management (LIHTC, Section 8) (BPAJAFAD), Multifamily (Apartment) Property Management (BPAJAGAD)

Keywords

• Multi-family property management
• Commercial property management
• Real estate development services
• Affordable housing management
• Asset property management

Headquarters

HQ city

Saint Paul

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Infrastructure, Others

Revenue model

1. Residential Property Management: HBG manages over 6,000 multi-family apartment units throughout the Twin Cities metropolitan area, including market rate and affordable properties spanning Class A, B, and C categories. Revenue is generated through property management fees charged to property owners and investors.
2. Commercial Property Management: HBG manages and partially owns over 600,000 square feet of commercial and mixed-use properties. The company offers full-service commercial management including leasing, tenant improvements oversight, and property ownership stakes, generating revenue through management fees and ownership returns.
3. Development and Lease-up Management: HBG partners with investors and developers for over 30 years to develop new market-rate and affordable apartments in Minneapolis and St. Paul. The company provides marketing department services and lease-up management for both client-owned and HBG-owned/partnered developments.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

Halverson and Blaiser Group manages over 6,000 multi-family apartment units and more than 600,000 square feet of commercial and mixed-use properties throughout the Minneapolis–St. Paul metropolitan area. The firm provides full-service property management, including leasing, tenant improvement oversight, marketing, and lease-up services for both investor-owned and HBG-owned/partnered developments across market-rate and affordable housing segments.

Product overview

Halverson and Blaiser Group (HBG) is a property management and real estate development company offering three core services: multi-family apartment management (over 6,000 units), commercial property management (over 600,000 sq. ft.), and real estate development. Their portfolio includes named apartment communities such as The Station, The Flats, Pioneer Endicott, Lakefield, The Hollows, Marshall Avenue Flats, Wangstad Commons, Harbourline, Bridgewell, and Saint Peter Penthouses, as well as commercial properties including Northwestern Building, Metro Executive Center, Osborn 370, Hamm Building, and The Wycliff. The company operates throughout the Minneapolis-St. Paul metropolitan area with over 30 years of expertise.

Differentiator

Problem solved

Functional benefit

Products and services

• Multi-Family Apartment Management Property management services for multi-family residential properties. HBG manages over 6,000 apartment units throughout the Minneapolis and St. Paul metropolitan area, including market rate and affordable properties across Class A, B, and C categories. Service targets property owners and investors seeking tenant acquisition, retention, maintenance, and affordable housing compliance support.
• Commercial Property Management Full-service commercial property management including leasing, tenant improvement oversight, and ongoing operations for commercial and mixed-use properties in urban and suburban markets. HBG manages and partially owns over 600,000 square feet of commercial space. Service targets commercial property investors, owners, and commercial tenants in the Twin Cities.
• Real Estate Development Real estate development and lease-up management partnering with investors and developers to develop new market-rate and affordable apartments in Minneapolis and St. Paul. Services include lease-up management, in-house marketing support, and ongoing operations for both client-owned and HBG-owned/partnered developments.

Quantifiable outcome

• 6,000+ multi-family units managed
• +1 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles3 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 and major.

• PAK PropertiescoreStrategic or Co-development PartnerLong-standing development partner with HBG on multiple projects including the Pioneer Endicott building conversion ($42 million project in 2011), Commerce Building acquisition, and Marshall Avenue Flats development. PAK Properties and HBG jointly acquire and develop properties in the Twin Cities market.
• JO CompaniesmajorStrategic or Co-development PartnerDevelopment partner for Wangstad Commons project in Brooklyn Center. JO Companies, led by developer Johnny Opara, partnered with HBG for property management on this 54-unit affordable housing development.
• The Wall CompaniesmajorStrategic or Co-development PartnerDeveloper partner for Malcolm Yards development projects including The Station (210 units) and The Flats (143 units) in Dinkytown. The Wall Companies led the master development of the Malcolm Yards area, with HBG providing marketing and lease-up management services.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Dominium: Dominium is a major Twin Cities-based multifamily owner and manager specializing in affordable housing (LIHTC) throughout the Upper Midwest. Directly competes with HBG on affordable apartment management, lease-up, and development partnership roles in the Minneapolis-St. Paul market.
• CommonBond Communities: CommonBond is a Twin Cities-headquartered nonprofit providing affordable apartment housing and supportive services across the Midwest. Comparable as an affordable multi-family developer/manager operating overlapping income-restricted properties in the same region.
• Aeon: Aeon is a Twin Cities-based nonprofit housing developer and property manager that owns and operates thousands of affordable multi-family units in the Minneapolis-St. Paul region. Directly overlaps with HBG on affordable multi-family development and management assignments.
• Bigos Management: Bigos Management is one of the largest Twin Cities-area residential property management firms operating thousands of market-rate and affordable units. Direct competitor offering similar full-service multi-family management across the same metropolitan footprint.
• Sherman Associates: Sherman Associates is a Minneapolis-based real estate firm that develops, owns, and manages mixed-use, market-rate, and affordable multi-family properties in the Twin Cities. Operates as a development partner and manager in the same regional ecosystem where HBG competes.

Broad incumbents

• Greystar Real Estate Partners: Greystar is the largest apartment manager in the US with an institutional platform spanning market-rate and student housing management. Represents the national-scale incumbent that HBG's institutional clients and competitors compare against for larger portfolio assignments.
• Flaherty & Collins Properties: Flaherty & Collins is a national multifamily developer and property manager that owns and operates thousands of units with a growing Midwest presence. Comparable as a multi-state operator that larger investors may favor over regional managers like HBG.
• Lincoln Property Company Residential: Lincoln Property Company is one of the largest residential property managers in the US, operating market-rate and affordable communities nationwide. Represents the institutional incumbent whose scale, technology platform, and reporting capabilities set the bar HBG must meet to win growing clients.

Emerging players

• Wall Companies (The Wall Companies): Wall Companies is the master developer of Malcolm Yards in Dinkytown where HBG provides lease-up and marketing services (The Station, The Flats). Comparable as a Twin Cities development firm that creates multi-family inventory for managers like HBG.
• PAK Properties: PAK Properties is HBG's long-standing co-acquirer on Twin Cities projects including the Pioneer Endicott and Commerce Building deals. Comparable as a regional multi-family developer/owner with overlapping development partnerships.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/halverson-and-blaiser-group-ltd.

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 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 Halverson & Blaiser Group