Reveler Development
Reveler Development is a Portland, Maine-based private real estate firm founded in 1993 that develops, constructs, and manages residential properties, currently leading the $70 million, 204-unit Ledger luxury apartment project in Westbrook with partners Dolben and Procopio.
- Company typePrivate
- Founded1993
- HeadquartersPortland, United States
- Headcount51–100
- GTM typeB2C
- OfferingServices
What Reveler Development does
Reveler Development is a Portland, Maine-based private real estate development, construction, and property management firm founded in 1993. The company focuses on mid-sized residential and mixed-use projects in the Maine market, operating through a project-by-project development model in partnership with co-developers and regional lenders. Reveler's current flagship project is The Ledger, a $70 million, 204-unit luxury apartment complex in Westbrook, Maine, developed jointly with Dolben Co. Inc. and Procopio Cos. and financed by Rockland Trust and Camden National Bank; construction began in October 2025 with first-phase delivery expected in early 2027 and full completion in early 2028.
The Ledger's units average approximately 1,000 square feet in one-, two-, and three-bedroom configurations with luxury finishes, and are marketed at monthly rents of $2,600 to $2,800. At full occupancy, the asset represents roughly $6.4M-$6.8M in gross annual rental potential, though this revenue stream is pre-delivery as of the data date. The Ledger is also notable as the first multifamily development in Maine for Dolben Co. Inc. and the second such project in Maine for Procopio Cos., suggesting Reveler is positioned as a local partner-of-choice for out-of-state developers entering the Maine luxury rental market.
The company's business model combines development economics (developer fee, equity returns, and construction margin on each project) with recurring property management revenue, supported by a 51-100 person organization based at its Portland, Maine headquarters. The firm is privately held with no disclosed institutional ownership, and operates without disclosed technology, AI, or software offerings, with the core business rooted in real estate domain expertise, local relationships, and project execution capability.
Reveler Development firmographics
Firmographics- Name
- Reveler Development
- Legal name
- Reveler Development
- Website
- https://rvlr.com
- Company type
- Private
- Founded year
- 1993
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Reveler Development is a Portland, Maine-based private real estate firm founded in 1993 that develops, constructs, and manages residential properties, currently leading the $70 million, 204-unit Ledger luxury apartment project in Westbrook with partners Dolben and Procopio.
- Ownership category
- akta.pro rank
Reveler Development industry classification
Industry- Product category
- Real Estate Development
- NAICS
- Residential Building Construction (23611), Residential Building Construction (2361)
- SIC
- Operative Builders (1531), Land Subdividers & Developers (No Cemeteries) (6552)
- akta.pro primary industry
- Residential Land Development & Subdivision Homebuilding (Build-to-Sell Communities) (IMAFABAL)
Keywords
Where Reveler Development is headquartered
LocationHeadquarters
- HQ city
- Portland
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Reveler Development business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Supply Chain, Personnel, Operations, Infrastructure
Revenue model
- Apartment Rental Income: Revenue generated from leasing 204 luxury apartment units at The Ledger complex in Westbrook, Maine. Units range from one- to three-bedroom apartments with monthly rents of $2,600 to $2,800.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | One-, two-, and three-bedroom luxury apartments ranging from $2,600 to $2,800 per month |
Distribution channels1 record
Reveler Development product offering
Product offeringCore offering
Reveler Development is a Portland, Maine-based real estate investment and development company that specializes in the development, construction, and property management of luxury multifamily apartment complexes. The company partners with co-developers and financial institutions to build new residential properties, with its current flagship project being The Ledger, a 204-unit luxury apartment complex in Westbrook, Maine.
Product overview
Reveler Development is a Portland-based real estate development company specializing in luxury apartment complex development. The company operates through project-based development partnerships, with their current primary offering being The Ledger, a 204-unit luxury residential complex in Westbrook, Maine. This represents their development-focused business model rather than a unified software product platform.
Differentiator
Problem solved
Functional benefit
Products and services
- The Ledger
- Property Management Services
Quantifiable outcome
- Construction began October 2025, first phase completion expected early 2027, full completion by early 2028
Companies that use Reveler Development
Customer profileSegments1 record
Ideal customer profiles1 record
Reveler Development technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Reveler Development partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core.
- Dolben Co. Inc.coreDolben Co. Inc. is partnering with Reveler Development and Procopio Cos. to develop The Ledger, a 204-unit luxury apartment complex in Westbrook, Maine. This marks Dolben's first multifamily development in Maine, representing a significant strategic expansion into the Maine market.
- Procopio Cos.coreProcopio Cos. is collaborating with Reveler Development and Dolben Co. Inc. on The Ledger project. This is Procopio's second multifamily development project in Maine, indicating established presence and commitment to the Maine real estate market.
Scale indicators3 records
Recent moves4 records
Expansion highlights4 records
Reveler Development competitors and assessment
Company assessmentBroad incumbents
- Greystar Real Estate Partners: Largest multifamily rental housing operator and investment manager globally, with development, investment, and property management services. Overlaps with Reveler's vertically integrated model but at vastly larger institutional scale.
- Bozzuto Group: Diversified residential real estate company that develops, builds, and manages multifamily properties. Comparable vertically integrated developer-operator model, though Bozzuto operates across the East Coast and Mid-Atlantic at much larger scale.
- Wood Partners: National multifamily developer with a strong track record of Class A apartment communities across U.S. metros. Comparable in core product (luxury multifamily for-rent) but at much greater scale and geographic breadth than Reveler's single Maine project.
- Camden Property Trust: Public multifamily REIT that develops, acquires, and operates Class A apartment communities. Comparable luxury multifamily product, though as a public REIT with a national portfolio versus Reveler's private single-asset focus.
- Toll Brothers Apartment Living: Multifamily development arm of Toll Brothers, building luxury rental communities nationwide. Highly comparable in luxury product positioning and pricing tier, but operates as a national platform backed by a public homebuilder parent.
Emerging players
- Two Roads Development: Real estate development company focused on ground-up multifamily and mixed-use communities. Comparable luxury apartment development product, but Two Roads is part of the broader Globalvia family and operates at greater scale and geographic reach than Reveler.
- RangeWater Real Estate: Multifamily developer and operator focused on Class A garden-style and mid-rise apartments across high-growth U.S. markets. Comparable build-to-rent multifamily thesis and developer-operator integration, though at a faster growth pace and broader footprint.
Direct peers
- Dolben Co. Inc. Multifamily real estate developer and property manager actively co-developing The Ledger with Reveler. Highly comparable in product type (luxury multifamily) and operating model (develop + manage), though Dolben is the larger, more diversified regional player.
- The NRP Group: Multifamily developer, builder, and property manager focused on Class A apartment communities, with a vertically integrated platform similar to Reveler. Operates in select metros nationally, comparable on product type and developer-operator integration.
- Procopio Cos. Real estate development and investment firm co-developing The Ledger with Reveler. Comparable in product type and geography (Maine multifamily), serving as a project partner rather than direct competitor, but with similar build-to-rent multifamily exposure.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat3 records
Key risks6 records
Key highlights7 records
Customer concentration
Reveler Development social profiles
Digital presenceReveler Development financial estimates
Financial estimateRevenue estimate
Valuation estimate
Reveler Development leadership team
Management profileNumber of profiles
Profiles1 record
Reveler Development funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Reveler Development M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Reveler Development
What does Reveler Development do?
Reveler Development is a Portland, Maine-based real estate investment and development company that specializes in the development, construction, and property management of luxury multifamily apartment complexes. The company partners with co-developers and financial institutions to build new residential properties, with its current flagship project being The Ledger, a 204-unit luxury apartment complex in Westbrook, Maine.
Is Reveler Development a public or private company?
Reveler Development is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Reveler Development founded?
Reveler Development was founded in 1993. It employs 51 to 100 people.
Where is Reveler Development based?
Reveler Development is headquartered in Portland, United States, in the North America region.
How does Reveler Development make money?
One revenue line is on record: apartment Rental Income.
Who are Reveler Development's main competitors?
Broad incumbents on record are Greystar Real Estate Partners, Bozzuto Group, Wood Partners, Camden Property Trust and Toll Brothers Apartment Living. Emerging players are Two Roads Development and RangeWater Real Estate. Direct peers are Dolben Co. Inc., The NRP Group and Procopio Cos..
Does Reveler Development have an API?
No public API is recorded for Reveler Development.
What industry is Reveler Development in?
Reveler Development's product category is Real Estate Development. Its primary akta.pro industry code is IMAFABAL, Residential Land Development & Subdivision Homebuilding (Build-to-Sell Communities). Its NAICS code is 23611 and its SIC code is 1531.