Aterra Real Estate

What Aterra Real Estate does

Aterra Real Estate Holdings, L.L.C. is a privately held, founder-controlled commercial and residential real estate investment and management company headquartered at 1001 Grand Avenue, West Des Moines, Iowa. Founded in 2003 by Thomas R. Bernau with a single commercial investment in Des Moines, the company has scaled to own and manage approximately 150 properties totaling between 628,473 and 800,000+ square feet across seven states: Iowa, Illinois, Missouri, Nebraska, Wisconsin, Texas, and Florida. Asset classes span retail strip and neighborhood centers, office suites, multi-family, and single-family rentals.

The company's core offering is the acquisition, ownership, and management of stabilized real estate assets leased to commercial tenants (retailers, professional services, medical offices, restaurants) and residential renters. Commercial spaces are marketed through the company website with downloadable property brochures, leased via direct inquiry by phone (515-225-9029) or email, and supported by on-site property management at select locations. Tenants pay rent through a Heartland Payment Services online payment portal, submit maintenance requests via the website, and pay separately metered electrical and operating expenses per their lease terms. Property listings also include options for outright sale alongside lease arrangements, providing a secondary transactional revenue stream.

Aterra makes money through three revenue streams: recurring monthly commercial lease income, recurring monthly residential rental income, and one-time property sale proceeds. Pricing is per-property, quote-based, and not publicly disclosed. Distribution is direct-to-consumer via the company website, supplemented by MLS-style property listing portals and direct field engagement with larger commercial tenants. The company has no disclosed institutional funding, no external investors, and operates with a very lean team of 1-10 employees, supported by third-party service providers for payments and web hosting. It earned three consecutive years on the Inc. 5000 list (2015-2017, ranking #3709 in 2017), reflecting organic growth momentum during that period.

Name

Aterra Real Estate

Legal name

Aterra Real Estate Holdings, L.L.C.

Website

https://aterrarealestate.com

Company type

Private

Founded year

2003

Operating status

Operating

Headcount range

1–10 employees

Short description

Aterra Real Estate Holdings is a privately held, founder-controlled real estate investment and management company that owns and manages approximately 150 commercial and residential properties totaling over 800,000 square feet across seven US states, serving commercial tenants and residential renters primarily in the Midwest.

Ownership category

akta.pro rank

Product category

Commercial and Residential Real Estate Investment and Management

NAICS

Lessors of Real Estate (5311), Residential Property Managers (531311), Real Estate Property Managers (53131)

SIC

Real Estate Operators (No Developers) & Lessors (6510), Real Estate Dealers (For Their Own Account) (6532), Real Estate Agents & Managers (For Others) (6531)

akta.pro primary industry

Property Management Advisory & Leasing Administration (FSAEAJAN)

akta.pro secondary industry

Residential Real Estate Asset Management (BPAJAMAA)

Keywords

• Commercial real estate leasing
• Residential property rentals
• Real estate investment
• Property management services
• Real estate portfolio management

Headquarters

HQ city

West Des Moines

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Commercial Property Leasing: Revenue generated from leasing commercial spaces including retail, neighborhood centers, office, and multi-family properties. Tenants pay separately metered electrical and other operating expenses. The company owns and manages approximately 150 commercial and residential properties totaling over 800,000 square feet across seven states.
2. Residential Property Rental: Revenue from renting residential single-family homes and multi-family units. Monthly rental payments processed through Heartland Payment Services online payment portal.
3. Property Sales and Acquisition: The company was founded in 2003 when Thomas Bernau made his first commercial real estate investment in Des Moines, Iowa. The company continues to acquire properties and may sell properties from the portfolio as part of its investment strategy. Properties are listed for both sale and lease.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

Aterra Real Estate owns, leases, and manages a diversified portfolio of commercial and residential real estate properties. Its commercial offerings include retail, neighborhood centers, office, and multi-family spaces leased to business tenants, while its residential offerings include single-family homes and multi-family units for rent. The company additionally provides property management services, tenant maintenance request handling, and online rent payment processing through its portfolio of approximately 150 properties exceeding 800,000 square feet across seven U.S. states.

Product overview

Aterra Real Estate Holdings operates as a diversified commercial and residential real estate investment and management company. The company offers a unified platform of real estate services comprising commercial property sale and lease listings, residential rentals, portfolio holdings management, property maintenance services, and online payment processing. The portfolio spans approximately 150 commercial and residential properties across seven states (Iowa, Illinois, Missouri, Nebraska, Wisconsin, Texas, and Florida), totaling over 800,000 square feet owned and managed. Property types include retail spaces, neighborhood centers, office buildings, multi-family units, and single-family homes.

Differentiator

Problem solved

Functional benefit

Products and services

• Commercial Property Sale and Lease Listings Commercial real estate properties available for sale or lease, including retail spaces, neighborhood centers, office buildings, and multi-tenant properties located across Iowa, Illinois, Missouri, Nebraska, Wisconsin, Texas, and Florida. The offering targets business tenants such as retailers, professional services, medical offices, and restaurants seeking commercial space.
• Residential Rentals Residential properties available for rent, including single-family homes and multi-family units owned and managed by Aterra. The offering targets individuals and families seeking rental housing.
• Portfolio Holdings Management Ownership, acquisition, and management of a diversified commercial and residential real estate portfolio totaling over 800,000 square feet across seven states, including Iowa, Illinois, Missouri, Nebraska, Wisconsin, Texas, and Florida. The company targets investments that yield attractive stabilized cash returns and are well positioned for long-term holding.
• Online Payment Services Online payment center allowing tenants of Aterra Real Estate Holdings to make rent and lease payments electronically through Heartland Payment Services. Available to commercial and residential tenants of managed properties.
• Property Maintenance Services Maintenance request submission system for tenants of Aterra-managed properties to report issues and request repairs. Provided as part of the company's property management services.

Quantifiable outcome

• 800,000+ square feet of commercial and residential real estate owned and managed
• +3 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators5 records

Recent moves4 records

Expansion highlights3 records

Direct peers

• Greystar Real Estate Partners: Largest U.S. residential property manager and operator, directly comparable to Aterra's residential rental and multi-family management function.
• Phillips Edison & Company: Public REIT (NASDAQ: PECO) that owns and operates a portfolio of grocery-anchored neighborhood shopping centers — the same property category that anchors Aterra's commercial holdings.
• Kite Realty Group: Public shopping center owner/operator (NYSE: KRG) focused on open-air retail and mixed-use assets comparable to Aterra's retail and neighborhood-center holdings.
• Regency Centers Corporation: Public REIT (NASDAQ: REG) that owns grocery-anchored neighborhood and community shopping centers across the U.S., directly overlapping Aterra's commercial property mix and leasing model.
• Lincoln Property Company: Diversified residential and commercial property manager and developer, comparable in scope to Aterra's combined commercial leasing and residential rental operations.
• Brixmor Property Group: Public REIT (NYSE: BRX) operating one of the largest open-air shopping center portfolios in the U.S., with comparable neighborhood-center acquisition and leasing activity to Aterra.

Broad incumbents

• Kimco Realty: Large public REIT (NYSE: KIM) owning open-air shopping centers nationally — a broader incumbent competing for many of the same neighborhood-center assets Aterra targets.
• Realty Income Corporation: Public net-lease REIT (NYSE: O) that acquires single-tenant and multi-tenant commercial properties — an institutional buyer competing for retail boxes in Aterra's footprint.

Emerging players

• Crow Holdings Capital: Private real estate investment manager operating diversified commercial strategies, comparable as a similarly sized capital-deploying peer in secondary U.S. markets.

Regional players

• Hubbell Realty Company: Iowa-based developer and owner of commercial and residential properties across the Midwest, the closest regional operator to Aterra's Iowa-anchored portfolio.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/aterra-real-estate

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 Aterra Real Estate