National Real Estate Development

What National Real Estate Development does

National Real Estate Development, LLC (also operating as "National Development") is a full-service, privately held real estate development firm founded in 2013 and organized as a Delaware LLC. The company operates as the independently run development subsidiary of National Real Estate Advisors, LLC, which in turn is a subsidiary of the National Electrical Benefit Fund (NEBF) pension trust — providing patient, discretionary capital uncommon for a developer of its size. National Development specializes in complex, urban, mixed-use developments that combine residential, office, retail, hospitality, and medical office components within single projects, with active operations across four major U.S. markets: Philadelphia, Washington D.C., Los Angeles, and San Francisco. Its portfolio of approximately a dozen major projects — including East Market (Philadelphia), The Stacks (Buzzard Point, Washington D.C.), Jefferson Honickman Center (Philadelphia), The Noble (Philadelphia), Aviator House / 1625 Mass (Washington D.C.), Canopy by Hilton Philadelphia Center City, The Bloc (Los Angeles), and 100 Van Ness / 150 Van Ness (San Francisco) — totals nearly 6.3 million square feet completed or under construction since inception.

The firm executes primarily through joint venture and co-development structures with capital partners (Akridge, KRE Group, Bridge Investment Group, Blue Coast Capital, Bank of America, Bank OZK) and institutional anchor tenants (Jefferson Health, Hilton), drawing on construction expertise from Clark Construction and architecture firms including Ennead, Morris Adjmi, Handel, Gensler, and Eric Colbert & Associates. Core competencies include urban entitlement and historic preservation (D.C. Historic Preservation Review Board approvals, historic tax credit financing for the Stephen Girard Building), office-to-residential conversion (Aviator House under D.C.'s Housing in Downtown Program), LEED-certified sustainable development (The Stacks is LEED Gold), and complex multi-phase project structuring. The organization is intentionally lean at approximately 10 employees across offices in Washington D.C. (headquarters per website, 900 Seventh Street NW), Philadelphia, and Los Angeles, with senior leadership including President Daniel Killinger (Columbia MSRED, Penn M.Arch, formerly Edison Properties and Goldman Properties) and Managing Director Katie Hartley (Washington Business Journal 2026 40 Under 40).

Revenue is generated through two principal streams: development fees earned from National Real Estate Advisors and joint venture partners for managing and executing development projects from market research through delivery (professional services model), and participation in asset management and joint venture returns on completed projects alongside capital partners (managed services / promote economics). The go-to-market is enterprise field sales — long-cycle relationship-driven deal sourcing with institutional clients, healthcare systems, branded hotel operators, and capital partners, supported by industry awards (CoStar, NAIOP, AIA, BOMA, Hilton), NAIOP involvement, press coverage, and project website case studies rather than consumer-facing digital marketing. Pricing is bespoke and project-based rather than tiered, reflecting the B2B development nature of the business. A newly created Chief Technology Officer role (January 2026) signals a strategic emphasis on AI integration, systems modernization, and cybersecurity, though the firm has no disclosed proprietary technology products.

Name

National Real Estate Development

Legal name

National Real Estate Development, LLC

Website

https://natrealestatedevelopment.com

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

11–50 employees

Short description

National Real Estate Development is a privately held, full-service real estate development firm specializing in complex urban mixed-use projects across Philadelphia, Washington D.C., Los Angeles, and San Francisco, operating as a subsidiary of pension-backed National Real Estate Advisors and serving institutional capital partners and anchor tenants.

Ownership category

akta.pro rank

Product category

Real Estate Development Services

NAICS

New Housing For-Sale Builders (236117), Land Subdivision (2372)

SIC

Operative Builders (1531), Land Subdividers & Developers (No Cemeteries) (6552)

akta.pro primary industry

Real Estate Development Asset Management (Project/Construction-to-Stabilization) (BPAJAMAL)

akta.pro secondary industries

Residential Land Development & Subdivision Homebuilding (Build-to-Sell Communities) (IMAFABAL), New Construction & Builder Sales (BPAJAAAB)

Keywords

• Mixed-use real estate development
• Urban property development
• Multifamily residential development
• Medical office development
• Office-to-residential conversion

Headquarters

HQ city

Philadelphia

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Development Fees: National Development earns development fees for managing and executing development projects on behalf of National Real Estate Advisors and joint venture partners. The company provides technical expertise on construction and development matters from market research through final project delivery.
2. Asset Management and Joint Venture Returns: As a wholly owned development subsidiary of National Real Estate Advisors, the company participates in the upside from development projects through joint venture structures with capital partners including Akridge, Bridge Investment Group, and Blue Coast Capital.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels5 records

Core offering

National Real Estate Development is a full-service real estate development firm that develops complex, mixed-use projects across major U.S. urban markets. Its portfolio spans multifamily residential towers, medical office buildings, hospitality properties, and office-to-residential conversions delivered through ground-up development, adaptive reuse, and asset repositioning. The firm sources, entitles, designs, finances, and oversees construction for institutional ownership groups and joint venture partners, then transitions stabilized assets to property managers.

Product overview

National Real Estate Development is a full-service real estate development firm that develops complex, mixed-use projects throughout the United States. The company's portfolio consists of distinct property types including mixed-use developments (East Market, The Stacks), residential towers (The Noble, The Girard, The Colette, Everly, The Byron), medical office buildings (Jefferson Honickman Center), hospitality properties (Canopy by Hilton Philadelphia Center City), and office conversions (Aviator House). The company's development approach focuses on transforming underutilized real estate into vibrant, sustainable communities, with projects spanning major markets including Philadelphia, Washington D.C., Los Angeles, and San Francisco. Each development typically combines multiple property types within a unified project, such as The Stacks which integrates residential, retail, and coworking spaces, or East Market which encompasses residential, office, retail, and hospitality components.

Differentiator

Problem solved

Functional benefit

Products and services

• East Market A mixed-use, multi-phase redevelopment project in Center City Philadelphia encompassing an entire city block, including podium retail, rental apartments, Class A office space, ground-floor retail, the Canopy by Hilton hotel, and the Jefferson Honickman Center medical office building.
• The Stacks A 6-acre waterfront mixed-use community in Buzzard Point, Washington D.C. featuring three residential towers (The Byron, Everly, The Colette) with over 1,100 apartments, 40,000 sq ft of retail, 11,000 sq ft of coworking space, and 22,000 sq ft of public open space.
• Aviator House (1625 Mass) An office-to-residential conversion project in Dupont Circle, Washington D.C., transforming the former Air Line Pilots Association headquarters into 157 modern residential units.
• The Noble A 13-story, 360-unit residential tower in Philadelphia's Northern Liberties neighborhood featuring a flagship City Fitness gym, heated pool, and 10,000 sq ft of green space.
• Jefferson Honickman Center A 462,000 sq ft medical office building at 1101 Chestnut Street in Philadelphia, developed in partnership with Jefferson Health as the final phase of East Market, featuring cutting-edge medical services and a 300-car below-grade parking structure.
• The Colette (residential tower within The Stacks) A residential tower within The Stacks featuring 319 units including studios to two-bedroom apartments, and D.C.'s largest co-living experience with 106 co-living units comprising 362 bedrooms.
• Everly (residential tower within The Stacks) A 14-story residential tower within The Stacks offering 413 spacious units from studios to three-bedroom layouts with resort-inspired amenities including a rooftop lounge and lap-length pool.
• The Byron (residential tower within The Stacks) A 14-story residential tower within The Stacks featuring 384 modern units with waterfront views, a 10,000 sq ft FLEX gym, and rooftop amenities.
• Canopy by Hilton Philadelphia Center City A 236-key boutique hotel in a restored 19th-century historic Stephen Girard Building, operating under the Canopy by Hilton flag as part of the East Market mixed-use development.
• 412 N 2nd Street A 23-story, 397-unit multifamily apartment building in Philadelphia's Northern Liberties neighborhood featuring 21,000 sq ft of retail and a Woonerf pedestrian street.
• 1100 Ludlow Street A 200,000 sq ft redevelopment of a century-old warehouse into loft-style office space catering to creative businesses and tech sector tenants, as part of the East Market mixed-use development.
• 1100 Market Street and The Ludlow A 500,000 sq ft mixed-use project including 105,000 sq ft of retail, a 322-unit residential tower (The Ludlow), and underground parking, as part of the East Market development.
• The Girard A 20-story, 240-unit residential tower in East Market with amenities including a 25-yard lap pool, sun deck, and dog run.

Quantifiable outcome

• Nearly 6.3 million square feet of development completed or under construction since 2013
• +3 more outcomes

Named customers7 records

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

17 partnerships are on record, tiered flagship, core, key, tenant and supporting.

• AkridgeflagshipStrategic or Co-development Partner · 18 June 2025Akridge is co-master developer of The Stacks, a 7-acre, 2-million-square-foot waterfront development in Buzzard Point, Washington D.C. National Development and Akridge jointly developed Phase I delivering over 1 million square feet including 1,116 residences, 40,000 SF retail, and 90,000 SF amenities.
• Jefferson HealthcoreStrategic or Co-development PartnerJefferson Health partnered with National Development on Jefferson Honickman Center, a 462,000 SF Medical Office Building at East Market, Philadelphia. Jefferson Health is the anchor tenant and healthcare provider for the facility that opened in April 2024.
• KRE Group (Kushner Real Estate Group)coreStrategic or Co-development PartnerKRE Group is co-development partner with National Development on Northern Liberties project in Philadelphia. Together they are developing a multi-phase, mixed-use project on North 2nd Street between Callowhill and Spring Garden Streets, with The Noble as the first completed phase.
• Clark ConstructioncoreImplementation/ SI/ Consulting PartnerClark Construction is the general contractor for The Stacks development in Washington D.C. They are one of the largest general building contractors in the region.
• Clark ConstructioncoreImplementation/ SI/ Consulting PartnerClark Construction serves as general contractor for Aviator House (1625 Mass) office-to-residential conversion in Washington D.C.
• GreystarcoreChannel Partner/ Reseller/ DistributorGreystar is property manager for The Stacks residential properties (The Byron, Everly, The Colette) in Washington D.C.
• Ennead ArchitectskeyImplementation/ SI/ Consulting PartnerEnnead Architects served as design architect for Jefferson Honickman Center in Philadelphia, creating a contemporary curved glass facade that reflects Jefferson's advanced technologies.
• Morris Adjmi ArchitectskeyImplementation/ SI/ Consulting PartnerMorris Adjmi Architects served as Design Architect for 1100 Ludlow and as design architect and interior designer for The Girard at East Market Philadelphia.
• Handel ArchitectskeyImplementation/ SI/ Consulting PartnerHandel Architects is one of the architects for The Stacks development in Washington D.C.
• GenslerkeyImplementation/ SI/ Consulting PartnerGensler is one of the architects for The Stacks development in Washington D.C.
• Eric Colbert & AssociateskeyImplementation/ SI/ Consulting PartnerEric Colbert & Associates designed the Aviator House conversion and is architect for The Stacks in Washington D.C.
• BLTa ArchitectskeyImplementation/ SI/ Consulting PartnerBLTa Architects served as Architect of Record for 1100 Ludlow and 1100 Market Street at East Market Philadelphia.
• West 8keyImplementation/ SI/ Consulting PartnerWest 8 is landscape architect for The Stacks development, providing urban design and landscape architecture services.
• Launch WorkplacestenantOthersLaunch Workplaces will open an 11,000 SF coworking space at The Stacks, designed for entrepreneurs, remote workers and small businesses.
• Gaetane & Co. DesignsupportingImplementation/ SI/ Consulting PartnerGaetane & Co. Design provided interior design services for Aviator House (1625 Mass) office-to-residential conversion.
• DXA StudiosupportingImplementation/ SI/ Consulting PartnerDXA Studio provided facade input for Aviator House (1625 Mass) office-to-residential conversion in Washington D.C.
• International Brotherhood of Electrical Workers (IBEW)supportingImplementation/ SI/ Consulting PartnerIBEW skilled electricians participated in the Power Up event celebrating permanent electrical power startup at Aviator House project.

Scale indicators5 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Akridge: Akridge is a Washington D.C.-based commercial real estate developer and investor with deep mixed-use, office, and multifamily expertise. It is the co-master developer of The Stacks alongside National Real Estate Development, making it a direct functional peer and active JV partner.
• Kushner Real Estate Group (KRE Group): KRE Group is a New Jersey-based multifamily and mixed-use developer active in NJ, NY, and Philadelphia. It is the co-development partner with National Real Estate Development on the Northern Liberties project (including The Noble), making it a direct comparable.
• JBG SMITH Properties: JBG SMITH is a publicly traded mixed-use and multifamily developer headquartered in the Washington D.C. region, focused on transforming urban communities similar to National Real Estate Development's D.C. projects (The Stacks, Aviator House). It is a direct peer in the same geography and product mix.
• Brandywine Realty Trust: Brandywine Realty Trust is a Philadelphia-based publicly traded real estate investment trust focused on office, mixed-use, and residential development in Philadelphia and other major U.S. markets. It competes with National Real Estate Development in the same Philadelphia ecosystem.
• The NRP Group: The NRP Group is a vertically integrated, multifamily and mixed-use developer specializing in affordable, market-rate, and mixed-income residential in major U.S. urban markets. It is a direct comparable in multifamily and mixed-use development scope.

Broad incumbents

• Greystar Real Estate Partners: Greystar is the largest multifamily property manager and developer globally, with extensive U.S. multifamily and mixed-use development. It manages The Stacks residential for National Real Estate Development and is a broad incumbent peer given the overlap on multifamily development, property management, and investment.
• Skanska USA Commercial Development: Skanska is a global construction and development firm with a major U.S. commercial real estate development arm focused on large mixed-use, office, and multifamily projects in major U.S. urban markets. It is a broader incumbent that competes with NRED for similar institutional mixed-use mandates.
• Tishman Speyer: Tishman Speyer is a global real estate developer and investor with significant mixed-use, office, and residential projects in major U.S. urban centers. It is a broader incumbent that competes with NRED for the same institutional capital, large urban sites, and complex mixed-use mandates.
• Hines: Hines is a global real estate investment, development, and management firm with a deep portfolio of mixed-use, multifamily, office, and healthcare real estate. It is a broader incumbent with overlapping institutional client base and similar urban mixed-use development capability.

Emerging players

• CityView: CityView is a Los Angeles-based real estate investment and development firm focused on urban mixed-use, multifamily, and master-planned communities. It is a smaller emerging player with a comparable urban infill development focus in some of the same West Coast markets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/Nat_Development
• Facebookfacebook.com/NationalRealEstateDevelopment
• LinkedInlinkedin.com/company/natdevelopment
• Instagraminstagram.com/natdevelopment

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 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 National Real Estate Development