What Gumenick Properties does

Gumenick Properties is a privately held, family-owned real estate development and management company headquartered in Henrico County, Virginia (Richmond metro), founded in the late 1940s. The company operates three lines of business: ownership and operation of apartment communities, construction and sale of new townhomes and condominiums, and ownership of commercial office and retail properties. Its flagship asset is Libbie Mill - Midtown, a 90-acre mixed-use, walkable community in Henrico County described as the largest revitalization project in the county's 400-year history, integrating approximately 200,000 square feet of commercial space with multifamily and for-sale residential product.

The company's apartment portfolio comprises nine named communities across central and southeast Virginia, including Malvern Manor, The Village at Horsepen, Jordan's Branch, The Estates at Horsepen, Penstock Quarter, South Beach, Wellsmith, and the under-development Harp's Landing (398 units) and Wrighthaven Square (336 units). Revenue is generated primarily through recurring residential rents (subscription-style), one-time proceeds from townhome and condominium sales, and recurring commercial leases. Distribution is direct-to-consumer via property-dedicated websites, on-site leasing teams, and a tenant portal.

The company employs 101-250 people and has no disclosed proprietary technology platform. Its competitive positioning rests on 70+ years of operating history, sustained customer-service recognition (Kingsley Excellence Elite 5 Award in 2023, 2025, and 2026; Richmond Top Workplace for eleven consecutive years), and integration of residential, for-sale, and commercial product within a single master-planned community. A charitable initiative, the Gumenick Greater Richmond Housing Fund, was established in 2000 to address affordable housing in Central Virginia.

Name

Gumenick Properties

Legal name

Gumenick Management Co. LLC

Website

https://gumenick.com

Company type

Private

Founded year

1940

Operating status

Operating

Headcount range

101–250 employees

Short description

Gumenick Properties is a privately held, family-owned real estate developer and operator based in Richmond, Virginia, owning and managing nine apartment communities, for-sale townhomes and condominiums, and commercial space centered on the 90-acre Libbie Mill - Midtown mixed-use development in central and southeast Virginia.

Ownership category

akta.pro rank

Product category

Residential Real Estate Development and Property Management

NAICS

New Multifamily Housing Construction (except For-Sale Builders) (236116), New Housing For-Sale Builders (236117), Lessors of Nonresidential Buildings (except Miniwarehouses) (531120), Residential Building Construction (23611)

SIC

Operators Of Apartment Buildings (6513), General Bldg Contractors - Residential Bldgs (1520), Operators Of Nonresidential Buildings (6512), Real Estate (6500)

akta.pro primary industry

Multifamily Apartment Property Management (BPAJAFAA)

akta.pro secondary industries

Multi-Family Residential Construction (Apartments, Condos, Townhomes) (IMAFABAB), Retail & Mixed-Use Commercial Construction (IMAFACAB), Residential General Contracting (New Build) (IMAFAAAB)

Keywords

• Multifamily property management
• Apartment community operations
• Real estate development
• Commercial property leasing
• Townhome and condominium building

Headquarters

HQ city

Richmond

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Apartment Community Operations: Gumenick Properties owns and operates apartment communities in central and southeast Virginia, generating recurring rental income from residential tenants across multiple properties including Malvern Manor, The Village at Horsepen, Jordan's Branch, The Estates at Horsepen, Penstock Quarter, South Beach, Wrighthaven Square, Wellsmith, and Harp's Landing.
2. New Home Building and Sales: The company builds and sells new townhomes and condominiums in Central Virginia, generating one-time transaction revenue from home sales. Properties include Libbie Mill townhomes and condominiums.
3. Commercial Office and Retail Leasing: Gumenick Properties develops and leases commercial office and retail space, particularly within the Libbie Mill - Midtown mixed-use community. Approximately 200,000 square feet of commercial space with some remaining availability.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

Gumenick Properties owns, develops, and operates apartment communities, builds and sells new townhomes and condominiums, and develops commercial office and retail properties in central and southeast Virginia. The portfolio includes nine apartment communities across Richmond and Virginia Beach, the flagship 90-acre Libbie Mill - Midtown mixed-use development, and approximately 200,000 square feet of commercial space.

Product overview

Gumenick Properties is a real estate development and management company offering a diversified portfolio of residential and commercial products. The company operates eight apartment communities across the Richmond and Virginia Beach areas, including award-winning properties such as Malvern Manor, Penstock Quarter, South Beach, The Village at Horsepen, Wellsmith, and Jordan's Branch Apartments. The flagship development is Libbie Mill - Midtown, a 90-acre mixed-use urban community featuring apartments, retail, office space, and residential for-sale units. The company also builds and sells new townhomes and condominiums in Central Virginia, and owns commercial office and retail properties. A charitable initiative, the Gumenick Greater Richmond Housing Fund, addresses affordable housing in the region.

Differentiator

Problem solved

Functional benefit

Brands

• Libbie Mill - Midtown: A 90-acre mixed-use, walkable community featuring apartments, homes, restaurants, retail, workplaces, and green spaces in the Midtown area of Henrico County, Virginia.

Products and services

• The Estates at Horsepen Apartments Luxury apartment community owned and operated by Gumenick Properties in the Richmond, Virginia area.
• Jordan's Branch Apartments Apartment community owned and operated by Gumenick Properties offering residential rental housing.
• Malvern Manor Apartments Apartment community operated by Gumenick Properties, recognized with the 2026 Kingsley Excellence Elite 5 Award.
• Penstock Quarter Apartments Apartment community at Libbie Mill - Midtown owned by Gumenick Properties and recipient of the 2026 Kingsley Excellence Elite 5 Award.
• South Beach Apartments Apartment community operated by Gumenick Properties in Virginia Beach, recognized with the 2026 Kingsley Excellence Elite 5 Award.
• The Village at Horsepen Apartments Apartment community owned by Gumenick Properties and recipient of the 2026 Kingsley Excellence Elite 5 Award.
• Wellsmith Apartments Apartment community at Libbie Mill - Midtown operated by Gumenick Properties, awarded the 2026 Kingsley Excellence Elite 5 Award.
• Wrighthaven Square Apartments Planned 336-home garden-style apartment community with resort-style outdoor pool at Libbie Mill - Midtown.
• Harp's Landing Apartments 398-apartment community under development at Libbie Mill - Midtown featuring studio through 3-bedroom homes with lake views.
• Libbie Mill - Midtown 90-acre mixed-use, walkable community featuring apartments, homes, restaurants, retail, workplaces, and green spaces in the Midtown area of Henrico County, Richmond, Virginia.
• Townhomes and Condominiums New townhomes and condominiums built and sold by Gumenick Properties in Central Virginia, including at the Libbie Mill - Midtown development.
• Commercial Office and Retail Space Commercial office and retail properties owned and operated by Gumenick Properties in central and southeast Virginia, with available space at Libbie Mill - Midtown.

Quantifiable outcome

• Top 5 multifamily company nationally (Elite 5) for resident satisfaction based on Kingsley Index surveys
• +2 more outcomes

Named customers11 records

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

Nine partnerships are on record, tiered minor and core.

• Safe HarborminorOthersNon-profit organization partnering with Libbie Mill - Midtown for community involvement and events.
• American Cancer SocietyminorOthersNon-profit organization partnering with Libbie Mill - Midtown for community involvement and events.
• Greater Richmond Chapter of the Alzheimer's AssociationminorOthersNon-profit organization partnering with Libbie Mill - Midtown for community involvement and events.
• Urban Land Institute of VirginiaminorStrategic or Co-development PartnerProfessional organization that has recognized Gumenick Properties' revitalization projects, providing industry credibility and validation of development practices.
• Greater Richmond Association of Commercial Real EstateminorStrategic or Co-development PartnerProfessional commercial real estate association that has recognized Gumenick Properties' work.
• Richmond Real Estate GroupminorStrategic or Co-development PartnerProfessional real estate organization that has praised Gumenick Properties' revitalization projects.
• Henrico CountycoreOthersGumenick Properties' primary development partner for the Libbie Mill - Midtown project, which is the largest revitalization project in Henrico County's 400-year history. Located between Staples Mill Road and Libbie Avenue, just South of I-64.
• ACACIA midtownminorOthersRestaurant tenant with soft opening at Libbie Mill - Midtown, representing the commercial tenant mix in the mixed-use development.
• Brass Tap Craft Beer BarminorOthersCraft beer bar opening at Libbie Mill - Midtown, contributing to the diverse food and beverage offerings in the community.

Scale indicators5 records

Recent moves7 records

Expansion highlights4 records

Direct peers

• The Breeden Company: Norfolk/Virginia Beach-based family-owned developer, owner, and manager of multifamily, commercial, and mixed-use properties across Virginia. Highly comparable to Gumenick in scale, regional focus, family ownership, and integrated build-and-hold model.
• Drucker + Falk: Richmond-headquartered, family-owned full-service real estate firm managing and leasing multifamily properties across the Mid-Atlantic and Southeast. Closely comparable to Gumenick in geography, customer base, and property management focus.
• Weidmann Apartment Homes: Regional multifamily owner/operator based in the Mid-Atlantic with a portfolio of apartment communities in similar markets. Directly comparable in product type (garden and mid-rise apartments) and target renter demographic.
• Kettler: McLean, VA-based developer, owner, and manager of multifamily and mixed-use properties in the Mid-Atlantic. Comparable integrated platform with development, ownership, and property management arms similar to Gumenick's three lines of business.
• Harbor Group International: Norfolk, VA-headquartered real estate investment and management firm with multifamily and commercial holdings across the U.S. Comparable in geographic roots, vertically integrated platform, and long-duration ownership.

Broad incumbents

• Bozzuto Group: Greenbelt, MD-based developer, owner, and manager of multifamily, mixed-use, and student housing across the Mid-Atlantic and nationally. Comparable product mix (apartments, mixed-use, for-sale) with a broader geographic footprint than Gumenick.
• Wood Partners: National multifamily developer with deep Mid-Atlantic presence, building Class A garden and mid-rise apartments. Comparable development pipeline and renter demographic, though at materially greater scale than Gumenick.
• The NRP Group: Cleveland-based national multifamily developer, owner, and operator with multifamily, mixed-use, and affordable housing across the U.S. Comparable integrated build-and-hold model, with broader geographic and product diversification.
• Greystar Real Estate Partners: Largest multifamily operator and developer globally, with a strong investment, development, and management platform in the Mid-Atlantic. Comparable product offering (owned + managed multifamily), though vastly larger in scale and capital base.
• Mid-America Apartment Communities: Public multifamily REIT owning and operating ~100,000 apartment units across the Sunbelt and Mid-Atlantic. Overlaps with Gumenick in renter demographic and product type, providing a public-market comparable for valuation and operating benchmarks.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 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 Gumenick Properties