PRE/3

What PRE/3 does

PRE/3 (Premier Real Estate Management) is a privately held multifamily real estate firm headquartered in Brookfield, Wisconsin. Founded circa 1989 and operating for more than 35 years, the company delivers three integrated service lines — property management, investment management, and property development — supporting a portfolio of more than 17,000 apartment units across 16 states, with concentration in the Midwest and a growing Southeast footprint. Ownership rests with founder Cal Akin, and the senior team (President Casey Duffey, EVP Bob Murray, SVP Kimberly Stair, VP Ron Schroeder, AVP Joshua Kenitzer) carries 20–35+ years of multifamily real estate tenure and industry certifications (ARM, CPM, HCCP, COS, CHM).

The firm serves two principal customer sets: individual residents seeking market-rate, LIHTC (Section 42), Section 8, senior, and student housing; and investor-owners requiring acquisition, disposition, underwriting, and development support. Day-to-day operations run on third-party property management platforms (Yardi, AppFolio) with a SecureCafe-powered resident portal for rent payment and service requests. There is no public-facing API, no proprietary AI/ML capability, and no disclosed patents; technology adoption is at the industry-standard baseline for mid-large multifamily operators.

PRE/3 earns revenue through professional/management fees on its third-party managed portfolio, fees on investment advisory and development transactions, and economics from owned/developed assets. Go-to-market is direct-to-consumer: leasing is handled through on-site staff and the company website, with explicit non-use of social media marketplaces or informal payment channels. The company is founder-owned, has no identified parent or subsidiary entities, and has not disclosed institutional capital or M&A activity in the source materials.

Name

PRE/3

Legal name

PRE/3

Website

https://pre-3.com

Company type

Private

Founded year

1989

Operating status

Operating

Headcount range

51–100 employees

Short description

PRE/3 is a privately held Wisconsin-based multifamily real estate firm providing property management, investment management, and development services across more than 17,000 apartment units in 16 states, serving residents and investor-owners.

Ownership category

akta.pro rank

Headquarters

HQ city

Brookfield

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Property Management Services: PRE/3 generates revenue through property management fees, overseeing day-to-day operations including advertising, showing and leasing apartments, unit turnovers, general property maintenance, contract repair work, resident maintenance requests, rent collection, payment processing, and tenant disputes.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels1 record

Core offering

PRE/3 is a vertically integrated multifamily real estate firm that owns, develops, and manages rental housing. Its core service lines are Property Management (full-service operations for market-rate, LIHTC/Section 42, senior, Section 8, and student apartments), Investment Management (advising investors through multifamily acquisition, financing, and disposition), and Property Development (new-construction multifamily communities, with more than 3,000 units delivered in Wisconsin over the past three years). The portfolio exceeds 17,000 units spread across 16 U.S. states.

Product overview

PRE/3 is a full-service multifamily real estate investment company offering three integrated core services: Property Management, Investment Management, and Property Development. The company manages a portfolio of over 17,000 apartment units across 16 states. Its Property Management service handles day-to-day operations for LIHTC (Section 42), Senior, and Market Rate properties; Investment Management guides investors through acquisition and financing; and Property Development has delivered more than 3,000 units in Wisconsin alone. The company also operates resident-facing sub-products including an online rent payment portal (via SecureCafe), Section 42 affordable housing units, and past-resident services. Career opportunities span property management, maintenance, and administrative roles.

Differentiator

Problem solved

Functional benefit

Products and services

• Property Management Full-service property management for multifamily residential properties, including day-to-day operations, maintenance, leasing, rent collection, tenant relations, and advertising. Covers LIHTC (Section 42), Senior, and Market Rate property types for property owners.
• Investment Management Comprehensive multifamily property investment services guiding investors through the entire process from property identification to financing and legal navigation, supporting a portfolio of more than 17,000 units across 16 states.
• Property Development Multifamily property development services with a collaborative approach to community development, having successfully delivered more than 3,000 units in Wisconsin in the past three years.
• Apartment Communities Portfolio of multifamily apartment communities across 16 states including Wisconsin, Michigan, Ohio, Kentucky, Illinois, Indiana, Iowa, Kansas, Minnesota, North Dakota, Oklahoma, South Carolina, South Dakota, Tennessee, West Virginia, and Colorado, offering 1-bedroom, 2-bedroom, 3-bedroom, 4-bedroom, and studio units for rental to residents.
• Section 42 (LIHTC) Affordable Housing Low-Income Housing Tax Credit (LIHTC) affordable housing program offering reduced-rent units for households meeting income requirements, with annual recertification. All Section 42 properties also accept Section 8 vouchers.

Quantifiable outcome

• 17,000+ units managed across 16 states
• +2 more outcomes

Segments5 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Regional players

• Flaherty & Collins Properties: Indianapolis-based multifamily developer and manager with a portfolio spanning the Midwest and Southeast, including affordable, market-rate, and senior housing. Comparable in regional Midwest focus, mixed property-type expertise, and integrated development platform.
• Edward Rose & Sons: Family-owned multifamily developer and manager headquartered in the Midwest with ~80,000+ units across the Midwest and Sun Belt. Closest privately held Midwest peer to PRE/3 in scale, ownership structure, and integrated development-and-management approach.

Direct peers

• RPM Living: Fast-growing multifamily property manager with ~250,000+ units, known for technology-enabled operations and strong Sun Belt growth. Comparable third-party management focus; highlights the technology gap versus PRE/3's Yardi-dependent stack.
• Bozzuto Group: Privately held multifamily developer, owner, and manager with ~85,000+ units concentrated in the Mid-Atlantic and Midwest. Comparable vertical integration (development, construction, management) and similar premium service positioning in secondary markets.
• The Michaels Organization: National multifamily developer and manager specializing in affordable (LIHTC) and workforce housing, with ~80,000+ units. Highly comparable to PRE/3 in LIHTC/Section 42 specialization, senior housing, and integrated development-plus-management model.
• RangeWater Real Estate: Multifamily developer and manager focused on the Sun Belt with ~100,000+ units, integrating development, acquisition, and third-party management. Comparable vertically integrated model; competes for similar institutional capital partners and fee streams.
• Dominium Management Services: One of the largest U.S. developers and managers of affordable (LIHTC) and workforce housing, with ~40,000+ units. Directly comparable to PRE/3 in LIHTC/Section 42 specialization and vertically integrated affordable housing model.
• Asset Living: One of the largest third-party multifamily property managers in the U.S., managing ~300,000+ units across affordable, market-rate, student, and senior housing. Closest functional peer to PRE/3 with similar property-type diversity and a comparable third-party management model.

Broad incumbents

• Lincoln Property Company: Top-tier U.S. multifamily property manager with ~210,000+ units under management. Comparable full-service multifamily management, investment, and development platform, with broader geographic reach and institutional backing versus PRE/3's regional Midwest focus.
• Greystar Real Estate Partners: Largest multifamily property manager and developer in the U.S., managing ~800,000 units globally. Directly comparable to PRE/3 as a vertically integrated multifamily operator offering property management, investment management, and development, but at far greater national scale.

Market position

Strengths5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/pre_three

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 PRE/3