What Dalian Development does

Dalian Development is the multifamily real estate development arm of the Fateh Family Office, a privately held investment and development firm led by Hossein Fateh with over $8 billion in assets under management and development. The company develops institutional-quality multifamily residential properties in select high-barrier-to-entry U.S. markets, currently operating across six geographies: San Antonio, Philadelphia, Raleigh, Richmond, Pittsburgh, and Washington D.C. Its portfolio includes three delivered communities (Monterrey Village in San Antonio delivered 2015, Dalian On The Park in Philadelphia delivered 2016 with 293 units and a flagship Whole Foods anchor, and Dalian 151 in San Antonio delivered 2018 with 360 units), four active ground-up developments, and a recently acquired 940,000-square-foot former federal office building in Washington D.C. being converted to multifamily use.

The company operates without proprietary technology platforms or software products. Revenue is generated through the development, lease-up, and long-term ownership of multifamily rental communities, supplemented by development gains on stabilized or sold assets and co-development activity with institutional partners. Customer segments are residential renters seeking luxury and mixed-income housing in urban and high-growth secondary markets, distributed across hundreds of individual leases rather than concentrated enterprise contracts; the one notable named commercial tenant is Whole Foods, which anchors Dalian On The Park.

Dalian's go-to-market is project-based rather than transactional sales: the firm identifies emerging submarkets, secures entitlements, develops institutional-quality product, and holds assets for ongoing rental yield. Distribution relies on property-specific leasing offices and third-party property managers, complemented by company website portfolio showcase and earned media in real estate trade publications. Growth is funded through the Fateh Family Office's permanent capital base rather than external institutional investors or venture capital, with select institutional joint ventures (e.g., the Rockpoint-LCOR-Potomac JV in Georgetown) used to share risk on trophy projects.

Name

Dalian Development

Legal name

Dalian Development

Website

https://dalianllc.com

Company type

Private

Founded year

2012

Operating status

Operating

Headcount range

11–50 employees

Short description

Dalian Development is the multifamily development arm of the Fateh Family Office, developing and long-term holding institutional-quality apartment communities in six high-barrier-to-entry U.S. markets, with 2,700+ units delivered and in pipeline.

Ownership category

akta.pro rank

Product category

Multifamily Real Estate Development

NAICS

New Multifamily Housing Construction (except For-Sale Builders) (236116), Residential Building Construction (23611), Land Subdivision (23721)

SIC

General Bldg Contractors - Residential Bldgs (1520), Land Subdividers & Developers (No Cemeteries) (6552), Real Estate Agents & Managers (For Others) (6531)

akta.pro primary industry

Build-to-Rent (BTR) Community Management (BPAJAFAC)

akta.pro secondary industry

Residential Affordable Housing Development & Construction (IMAFABAI)

Keywords

• Multifamily real estate development
• Residential property development
• Luxury apartment communities
• Mixed-use development
• Real estate investment

Headquarters

HQ city

Washington

HQ country

United States

HQ region

North America

Offices6 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Supply Chain, Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Multifamily Property Development and Sales: Dalian Development generates revenue through the development and sale or lease of multifamily residential properties. The company develops institutional-quality apartment communities, delivers units, and holds properties for long-term rental income and community reinvestment.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Dalian Development is a multifamily real estate developer that develops, owns, and operates institutional-quality apartment communities across select high barrier-to-entry U.S. markets. The company pursues ground-up multifamily and mixed-use developments, as well as adaptive-reuse office-to-residential conversions, leasing units directly to residential renters while holding properties for long-term ownership and community reinvestment.

Product overview

Dalian Development is the multifamily development arm of the Fateh Family Office, developing institutional-quality residential properties across select high barrier-to-entry U.S. markets. The company's portfolio consists of nine distinct real estate projects: three completed properties (Dalian On The Park in Philadelphia with 293 units delivered 2016, Monterrey Village in San Antonio delivered 2015, and Dalian 151 in San Antonio with 360 units delivered 2018), two office holdings (1212 New York Ave in Washington D.C. and 7th & D, a former GSA building acquired for conversion), and four active developments (500 Hillsborough in Raleigh with 221 units, 32 39th St in Pittsburgh with 334 units, Dalian Scott's Addition in Richmond with ~300 units, and 600 New Bern in Raleigh with up to 750,000 SF). The company has delivered over 1,000 units in Philadelphia and San Antonio, with active developments spanning six markets: San Antonio, Philadelphia, Raleigh, Richmond, Pittsburgh, and Washington D.C.

Differentiator

Problem solved

Functional benefit

Products and services

• 500 Hillsborough Mixed-use residential property in downtown Raleigh, NC featuring 221 units with 10,000 square feet of street-level commercial space, currently under development.
• Dalian On The Park Luxury residential community in Philadelphia's Logan Square delivered in 2016, featuring 293 units with an on-site flagship Whole Foods, 13,000 sq. ft. of resort-style interior amenities, 30,000 sq. ft. sky deck, and infinity pool overlooking the Philadelphia skyline.
• Dalian 151 Garden-style apartment community in San Antonio's Westover Hills delivered in 2018, offering 360 mixed-income units with dual-level pool with beach-front entry, indoor/outdoor fitness center, dog park, and business center.
• Monterrey Village Luxury apartment community in San Antonio delivered in 2015, featuring 18 acres with 10 residential buildings, infinity-edge pool, cabana, fire pits, amenity-filled clubhouse, and controlled parking access.
• 1212 New York Ave Class B office property in Washington D.C.'s East End comprising approximately 111,000 rentable square feet, serving as the global headquarters of the Fateh Family Office.
• 7th & D Former GSA Regional Office Building in Washington D.C. acquired for conversion to multifamily use. The approximately 940,000-square-foot building spans 3.4 acres and is located near the L'Enfant Plaza Metro station.
• 32 39th St Mixed-income residential development in Pittsburgh's Lawrenceville neighborhood with 334 units, currently under construction with planned National Green Building Standard Certification, featuring fitness center, club room, pool, rooftop and courtyard lounge.
• Dalian Scott's Addition Planned mixed-use apartment development in Richmond, VA's Scott's Addition neighborhood, expected to deliver approximately 300 units with amenity space and services.
• 600 New Bern Development site in Raleigh, NC on approximately 7 acres located directly on New Bern Ave. Entitled for up to seven stories with accompanying retail space, up to 750,000 square feet of total development, situated at a planned Bus Rapid Transit stop.

Quantifiable outcome

• Over 1,000 units delivered in Philadelphia and San Antonio markets
• +1 more outcomes

Named customers1 record

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Rockpoint, LCOR and Potomac Investment PropertiescoreStrategic or Co-development Partner · 17 June 2026Joint venture formed between Rockpoint, LCOR, Potomac Investment Properties, and Dalian Development to redevelop two properties in Washington D.C.'s Georgetown neighborhood into a 299-unit multifamily complex. This would be the largest multifamily project in Georgetown in over a century, consisting of a 10-story 179-unit building and a nine-story 120-unit building with rooftop pool, fitness center, and 18,000 square feet of retail space. The project received approval from the Old Georgetown Board and U.S. Commission of Fine Arts.

Scale indicators8 records

Recent moves5 records

Expansion highlights4 records

Direct peers

• LCOR: National multifamily developer and owner-operator currently in active JV partnership with Dalian on the Georgetown project. Closely comparable in scale, product type (institutional-quality multifamily), and development approach across urban and suburban submarkets.
• JBG SMITH Properties: Washington DC-area focused REIT that develops, owns, and operates a portfolio of multifamily and office assets. Directly comparable to Dalian as a DC-anchored multifamily developer with active ground-up development pipeline in the same high-barrier-to-entry markets.
• Rockpoint Group: Real estate private equity firm focused on opportunistic and value-add multifamily and mixed-use investments. Currently a JV partner with Dalian on the Georgetown project; comparable in deploying institutional capital into high-barrier-to-entry urban multifamily developments.
• The Howard Hughes Corporation: Large-scale mixed-use and multifamily developer with master-planned communities across the US. Highly comparable to Dalian as a long-horizon developer building institutional-quality residential product in select markets; Dalian's VP of Development (Eric Mulata) is a former Howard Hughes executive.
• Bozzuto Group: Mid-Atlantic focused multifamily developer, owner, and manager with deep presence in the DC, Philadelphia, and Baltimore markets where Dalian operates. Comparable in business model as a privately-held developer-manager of institutional-quality multifamily communities.

Broad incumbents

• UDR Inc. Large publicly-traded multifamily REIT with a diversified national portfolio. Comparable in developing, owning, and operating institutional-quality multifamily communities, with similar focus on high-barrier-to-entry markets though at much greater scale than Dalian.
• AvalonBay Communities: One of the largest publicly-traded multifamily REITs with a national portfolio of apartment communities. Comparable to Dalian in developing and operating institutional-quality multifamily product, though AvalonBay operates at significantly greater scale across coastal gateway markets.
• Equity Residential: Major publicly-traded multifamily REIT focused on urban and high-density suburban apartment communities. Comparable business model (develop, own, operate multifamily) but at significantly larger scale and concentrated in coastal gateway markets where Dalian is not present.
• Related Companies: Large diversified real estate developer with a significant multifamily and mixed-use development pipeline. Comparable in developing trophy mixed-use and residential assets in urban markets; significantly larger scale with broader property type exposure including affordable housing.

Others

• Greystar Real Estate Partners: Largest multifamily property manager and developer globally, with services spanning investment management, development, and property management. Comparable to Dalian's operational model of developing and managing multifamily communities, though Greystar operates at much greater scale and as a service provider to third-party capital.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/dalian-development-llc

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 Dalian Development