Name

Talon Development

Legal name

Talon LLC

Website

https://talon-llc.com

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

1–10 employees

Ownership category

akta.pro rank

Product category

Multifamily Real Estate Development

NAICS

Land Subdivision (23721), Offices of Real Estate Agents and Brokers (531210), Portfolio Management and Investment Advice (523940)

SIC

Land Subdividers & Developers (No Cemeteries) (6552), Real Estate Agents & Managers (For Others) (6531)

akta.pro primary industry

Real Estate Development & Feasibility Advisory (Highest-and-Best-Use, Entitlements Support) (BPAJANAC)

akta.pro secondary industries

Real Estate Investment Advisory (Acquisitions/Dispositions, Capital Allocation) (BPAJANAA), Real Estate Development Asset Management (Project/Construction-to-Stabilization) (BPAJAMAL), Land & Development Site Brokerage (BPAJABAG)

Keywords

• Multifamily real estate development
• Workforce housing development
• Student housing development
• Property management services
• Accredited investor real estate investments

Headquarters

HQ city

Sioux Falls

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Development Services: Talon Development provides end-to-end development services including site selection, land acquisition, entitlements, and project management. They leverage relationships with Eagle Construction for construction and arrange creative financing structures including tax credits and government programs.
2. Property Management: Property management services for multi-family and student housing properties, handling leasing, operations, maintenance, and owner relations. Student housing projects are managed in-house.
3. Investment Management: Direct multifamily investment opportunities offered to accredited investors with tax-deferred income streams, depreciation benefits, and exposure to demand-driven housing markets. Talon invests alongside partners.
4. Real Estate Brokerage: Commercial real estate brokerage services through Talon Real Estate, LLC, offering multi-family investments and commercial developments. Currently listing commercial space at The Heights – Vermillion at $15.00/sq ft NNN.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

Talon Development is a Midwest-focused real estate developer that creates high-quality multifamily, workforce, and student housing communities. It manages the full development lifecycle, from site selection and entitlements through construction (delivered via sister company Eagle Construction) to long-term property management, and syndicates tax-advantaged direct investment opportunities to accredited investors. The firm also operates a licensed commercial real estate brokerage (Talon Real Estate, LLC) and develops ancillary community assets, with a portfolio spanning 36 properties and 3,800+ units across 22 cities in the upper Midwest.

Product overview

Talon Development is a real estate development company that creates high-quality multifamily communities throughout the Midwest. The company operates as both a developer and property manager, offering a vertically integrated approach from project conception through property management. Their portfolio consists of standard multi-family apartment communities (such as Fox Hills, PowderHaus, District 29, Boulevard, The River), student housing properties (The Heights in Menomonie and Vermillion), investment opportunities for accredited investors, development services, property management, and real estate services. The company leverages strategic partnerships with Eagle Construction for building services and works with local governments and economic development organizations to secure funding through programs like Workforce Housing Tax Credits and Opportunity Zones.

Differentiator

Problem solved

Functional benefit

Products and services

• Development Services Full-service development offerings for municipalities, economic development partners, and investors, covering site selection, planning, land acquisition, entitlements, project underwriting, government relations, and public-private partnerships.
• Property Management Services Property management services for multi-family and student housing communities, including tenant screening, maintenance, financial record-keeping, and marketing, with AppFolio-based owner portal for statements and payments. Student housing is managed in-house.
• Accredited Investor Investment Opportunities Direct access to Talon-developed multifamily investments for accredited investors, with targeted 15-18% internal rate of return, historical 22.1% average net IRR, and 2.4x equity multiple, offering tax-deferred income streams, depreciation benefits, and Opportunity Zone exposure.
• Commercial Real Estate Brokerage (Talon Real Estate, LLC) Licensed real estate services delivered through Talon Real Estate, LLC, including multi-family investments and commercial developments, with active listings such as a 1,625 sq ft commercial suite at The Heights Vermillion at $15.00/sq ft NNN.
• Stone Creek (Investment Offering) Market-rate apartment community in Cedar Rapids, Iowa, with one- and two-bedroom apartments and amenities including in-unit laundry, walk-in closets, dog park, playground, and fitness center; currently 100% funded as an investment offering.
• The Lark (Investment Offering) 88-unit market-rate apartment community in Mason City, Iowa, offering one- to three-bedroom apartments and three-bedroom townhomes with amenities including in-unit laundry, dog park, playground, fitness center, clubhouse, and outdoor pool; currently 35% funded.
• The Heights – Menomonie (Student Housing) 171 fully-furnished student housing units near the University of Wisconsin-Stout in Menomonie, WI, with in-unit laundry, study rooms, conference room, pool, outdoor patio, and roof-top deck.
• The Heights – Vermillion (Student Housing) 236 fully-furnished student housing units across from the University of South Dakota campus in Vermillion, SD, offered students-only and pet-friendly with first-class amenities and an on-site commercial suite.
• Multi-Family Apartment Communities Standard multi-family residential apartment communities offering studio, one, two, and three-bedroom apartments along with two- and three-bedroom townhomes across the Midwest region, including flagship projects such as PowderHaus, Fox Hills, District 42, The River I & II, Boulevard, District 29, Deer Creek, Maple Pass, Overlook Apartments, Pioneer, South Pointe, The Banks, The Shores at Spirit Lake, and Tallgrass Village.

Quantifiable outcome

• 22.1% Average Net IRR to investors
• +3 more outcomes

Named customers8 records

Segments4 records

Ideal customer profiles3 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.

• Iowa Lakes Corridor Economic Development CorporationcoreStrategic or Co-development Partner · 28 January 2026Iowa Lakes Corridor Economic Development Corporation recognized Talon Development as a Housing Champion at its Annual Business Recognition Luncheon on January 28, 2026. The award honors organizations committed to expanding housing opportunities essential for workforce growth and economic vitality in the region.
• Eagle ConstructioncoreStrategic or Co-development Partner · 1 January 2021Eagle Construction is the primary construction partner for Talon Development projects. Eagle Construction brings award-winning construction expertise and is led by Josh Kruger (President of both companies). The partnership enables Talon to control construction quality and timeline while delivering high-quality multifamily communities across the Midwest. Notable projects include Boulevard Apartments, PowderHaus, District 42, and Fox Hills.
• Marion Economic Development Corporation (MEDCO)coreStrategic or Co-development Partner · 1 January 2021MEDCO partnered with Talon Development and Eagle Construction on Boulevard Apartments in Marion, Iowa. The 99-unit apartment complex was designed to address growing housing needs in Marion and Cedar Rapids, offering modern, affordable options. MEDCO's involvement ensured alignment with local economic development goals.
• Home Innovation Research LabsminorOthersHome Innovation Research Labs awarded District 42 the NGBS Green Certification Silver, making it the first multifamily building in Iowa to achieve this certification. The certification required evaluation of site location, energy efficiency, sustainable materials, and environmental practices.

Scale indicators11 records

Recent moves6 records

Expansion highlights5 records

Others

• AppFolio: AppFolio is the property management software platform Talon uses (per its owner portal disclosure), making it an ecosystem/vendor relationship rather than a competitor, but still a useful comparable for the operational tooling that supports a manager-developer of Talon's scale.
• RealPage: RealPage provides multifamily-focused technology, analytics, and property management software widely adopted across the industry, comparable as an enabling vendor for Talon's property management and investor-reporting operations.

Direct peers

• Roers Companies: Roers Companies is a vertically integrated Midwest developer, builder, and property manager of multifamily and student housing, with similar in-house construction and student housing exposure (e.g., near university campuses) to Talon's portfolio.
• Timberland Partners: Timberland Partners is a Midwest-focused multifamily real estate investment and development firm building workforce and market-rate housing in similar secondary markets, making it a direct comparable on deal type and geographic profile.
• McShane Companies: McShane Companies (Rosemont, IL) provides integrated construction and real estate investment services for multifamily, senior living, and student housing across the Midwest, directly comparable to Talon-Eagle Construction's integrated build-and-hold model.
• Sherman Associates: Sherman Associates is a Minneapolis-based developer of mixed-income, market-rate, and student housing with a strong Upper Midwest footprint and public-private partnership model, directly comparable to Talon's workforce housing strategy in SD/IA/WI.
• Weidner Apartment Homes: Weidner Apartment Homes is a multifamily owner, developer, and manager with a broad footprint spanning the Midwest, West, and beyond, comparable to Talon in unit count scale and in-house property management approach.
• Continental Properties: Continental Properties is a Milwaukee-based multifamily developer and operator known for developing market-rate apartments in secondary Midwest markets, directly comparable to Talon's workforce housing focus across SD, IA, and WI.

Broad incumbents

• Greystar Real Estate Partners: Greystar is the largest global multifamily property manager and developer with broad investment, development, and management services, representing a much larger incumbent benchmark for Talon's integrated development-plus-property-management business model.
• Lincoln Property Company: Lincoln Property Company is a national multifamily developer, owner, and third-party manager with a much broader portfolio, serving as an incumbent benchmark for Talon's integrated development, ownership, and management operations.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xtwitter.com/talondevelopment
• Facebookfacebook.com/talonllc
• LinkedInlinkedin.com/company/talondevelopment
• Instagraminstagram.com/talondevelopment

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries1 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 Talon Development