DEV partners

What DEV partners does

DEV Partners is a boutique, privately held real estate development firm headquartered in Columbus, Ohio, with a regional office in Des Moines, Iowa. The company specializes in multi-family residential developments across Central Ohio and Central Iowa, leveraging local market expertise and strategic tax incentives — notably Workforce Housing Tax Credits — to deliver sustainable residential projects. Active works-in-progress include Echo View (luxury townhomes on a Norwalk, Iowa golf course), 2nd Avenue Rowhomes (a 32-unit affordable townhome project under construction in Fort Dodge, Iowa), and The Concord (a historic Des Moines parking garage converted to modern office space). The company also holds affiliated hospitality and event assets, including The Century Events (a renovated wedding venue in Columbus) and Idyll Reserve Retreat (five sustainable cabins in Hocking Hills).

DEV Partners operates as a General Partner in a GP/LP private placement structure, raising capital from accredited and sophisticated investors through SEC Regulation D offerings. Revenue mechanics derive from three streams: real estate development (one-time project sale or long-term hold value), promote structures on managed investment partnerships (a share of project profits as GP), and recurring rental income from completed multi-family units. Target returns communicated to investors are a 12–18% or higher IRR on commercial deals and 6–10% Cash on Cash Yield. Pricing and specific investment terms are not publicly disclosed; investors must request a fit-discovery call before receiving offering details.

The firm is led by a five-partner management team (Jay DeVore as CEO, Danny Heggen as CFO, Brandon Foldes as Managing Partner, Ellen Broich heading Finance and Accounting, and Steven Reynolds), supported by project managers, project accountants, and a portfolio manager for an 8–11 person core team. DEV Partners operates within an affiliated services ecosystem that includes SHYFT Collective (strategic planning, construction management, architecture), DeVore Consulting (Owner's Rep and Expert Witness services), and the hospitality/event assets mentioned above. Go-to-market is sales-led and relationship-driven: investor outreach proceeds through the company website, a dedicated investor portal (devpartners.invportal.com), and the DEV Communities platform (communities.dev), with no public marketing of offering terms. No revenue, funding, or institutional backing is disclosed in available source material.

Name

DEV partners

Legal name

DEV Partners

Website

https://dev.partners

Company type

Private

Operating status

Operating

Headcount range

11–50 employees

Short description

DEV Partners is a boutique, privately held real estate development firm headquartered in Columbus, Ohio, specializing in multi-family residential projects across Central Ohio and Central Iowa, and raising capital from accredited investors via Regulation D private placements.

Ownership category

akta.pro rank

Headquarters

HQ city

Columbus

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Real Estate Development: DEV Partners develops multi-family residential properties and generates revenue through the sale or long-term holding of completed developments. Revenue is derived from property appreciation, rental income generation, and tax advantages such as depreciation and Workforce Housing Tax Credits.
2. Investment Partnership Returns: As General Partner (GP), DEV Partners manages investment projects and generates returns through promote structures - a share of project profits allocated for managing the investment. Investors participate as Limited Partners (LPs) contributing capital to projects.
3. Rental Income: Properties developed by DEV Partners generate consistent rental income through multi-family residential units, offering reliable financial streams that can offset expenses or be reinvested.

Go-to-market motion2 records

Distribution channels1 record

Marketing channels3 records

Core offering

DEV Partners is a boutique real estate development firm that develops multi-family residential properties in Central Ohio and Central Iowa, leveraging Workforce Housing Tax Credits and strategic tax incentives. The company acts as General Partner (GP) and offers private placement investment opportunities under SEC Regulation D to accredited and sophisticated investors, who participate as Limited Partners (LPs) contributing capital to specific development projects.

Product overview

DEV Partners is a boutique real estate development firm offering a unified investment platform focused on multi-family residential developments. The company operates projects across Central Ohio and Central Iowa markets, offering investors opportunities to participate in developments that leverage Workforce Housing Tax Credits and other strategic incentives. The portfolio includes distinct residential projects such as Echo View (luxury townhomes in Norwalk, IA), 2nd Avenue Rowhomes (affordable townhomes in Fort Dodge, IA), and The Concord (commercial office conversion in Des Moines, IA). The company positions itself as a General Partner managing projects on behalf of Limited Partner investors, providing end-to-end development services from site selection through construction and property operations.

Differentiator

Problem solved

Functional benefit

Products and services

• Private Placement Investment Opportunities Regulation D investment offerings sold to accredited and sophisticated investors who participate as Limited Partners (LPs) in DEV Partners' development projects, providing capital in exchange for project returns.
• Echo View Modern luxury townhome development on a golf course in Norwalk, IA featuring light-filled, architecturally modern townhomes with stunning views and high-end finishes.
• 2nd Avenue Rowhomes 32-unit affordable townhome apartment development under construction in Fort Dodge, IA, offering character-filled residences with beautiful finishes and included parking.
• The Concord Adaptive reuse of a historic parking garage in Des Moines, IA converted into modern office space housing DEV Partners and affiliated SHYFT Collective.

Quantifiable outcome

• Internal Rate of Return (IRR) target of 12-18% or higher for commercial deals
• +1 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Four partnerships are on record, tiered core and minor.

• SHYFT CollectivecoreStrategic or Co-development PartnerSHYFT Collective is an affiliated company offering comprehensive real estate change management services including strategic planning, construction management, and architecture all under one roof. The partnership provides DEV Partners with integrated in-house capabilities for development projects, empowering clients with information needed to navigate real estate changes confidently.
• DeVore ConsultingcoreImplementation/ SI/ Consulting PartnerDeVore Consulting is an affiliated company located in Central Ohio providing premier Owner's Rep and Expert Witness consulting services. The partnership enables DEV Partners to access specialized consulting expertise for project oversight and professional testimony.
• The Century EventsminorOthersThe Century Events is an affiliated renovated warehouse wedding venue located in Merion Village, Columbus. With high ceilings, original brick walls, and large windows offering a clean, minimalist customizable space, it represents DEV Partners' property portfolio diversification into event venues.
• Idyll Reserve RetreatminorOthersIdyll Reserve is an affiliated collection of 5 modern, sustainable cabins nestled in Hocking Hills. These eco-friendly cabins offer luxurious amenities including hot tubs, fireplaces, and fully equipped kitchens for nature getaways, representing DEV Partners' expansion into sustainable hospitality properties.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Fairfield Residential: National multifamily developer and operator with a deep portfolio across U.S. markets. Overlaps in product (multifamily rental) and target investors but is far broader in scale and geography than DEV Partners.
• Greystar Real Estate Partners: Largest U.S. multifamily developer, owner, and operator with national footprint. Comparable in core vertical (multifamily development and rental operations) but materially larger and broader than DEV Partners.
• CA Ventures: Multifamily and student housing developer and fund manager with national reach. Comparable business model of developing multifamily projects while pooling investor capital, but at much larger scale.
• Wood Partners: National multifamily developer operating across major U.S. metros with class A rental communities. Adjacent broader incumbent in the same product category as DEV Partners.

Direct peers

• Casto: Columbus, Ohio-based real estate development and management firm with multifamily, mixed-use, and commercial projects. Direct local competitor operating in the same Central Ohio market as DEV Partners.
• Woda Group: Westerville, Ohio-based developer specializing in affordable and workforce multifamily housing using LIHTC and state housing credits. Closely comparable to DEV Partners in vertical, geography, and underwriting approach.
• NRP Group: Cleveland, Ohio-based developer, owner, and manager of multifamily housing, including affordable/workforce housing using tax credits. Highly comparable to DEV Partners given shared Ohio footprint, multifamily focus, and use of similar tax-credit structures.
• Cardinal Industries: Ohio-focused multifamily developer and builder, including affordable housing projects in the Midwest. Comparable in product type (multifamily/build-to-rent) and regional orientation.
• Continental Real Estate Companies: Ohio-based real estate investment and development firm with multifamily and mixed-use projects in the Midwest. Comparable regional developer competing for similar investor base and assets.

Others

• Marcus & Millichap: National commercial real estate investment sales brokerage with a dedicated multifamily capital markets team. Relevant ecosystem participant that competes for the same HNW investor mindshare for real estate allocations.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/devpartners1
• LinkedInlinkedin.com/company/devpartners1

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries4 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 DEV partners