Pedcor Homes

What Pedcor Homes does

Pedcor Homes Corporation is a privately held real estate development, construction, and management company headquartered in Carmel, Indiana, and operating as a wholly-owned subsidiary of United Fidelity Bank, fsb, a $4.5 billion thrift savings bank based in Evansville, Indiana. Founded in October 1999, the company has built a residential portfolio of 53 apartment properties totaling over 9,400 units across seven states (Indiana, Illinois, Tennessee, Florida, North Carolina, South Carolina, and Georgia), spanning both affordable housing subject to income-based eligibility and market-rate apartments. Its commercial operations are concentrated in Carmel, IN, where a Facilities Services Division manages more than 800,000-900,000 square feet of retail, restaurant, office, and warehouse space across flagship assets including Carmel City Center, the Indiana Design Center, and Carmel Old Town Shops, supplemented by a complimentary CCC Valet parking service.

The company's revenue model rests on three primary streams: (1) recurring rental income from the multifamily portfolio across seven states, billed monthly under quote-based pricing that varies by property and unit type; (2) managed-services revenue from facilities management of Pedcor-partnered commercial buildings; and (3) intra-affiliate acquisition management and rehabilitation construction management services performed for sister entities Pedcor Housing Corporation and Village Capital Corporation, both service corporation subsidiaries of the parent bank. The bank parent provides a structural capital advantage: all-cash acquisitions enable a 30/30 due diligence window and 60-day closings unavailable to most peers. Go-to-market is sales-led and direct, with leasing handled through on-site property management offices and the resident portal at pedcorliving.com.

Technology is conventional and non-differentiated: website and resident portal infrastructure is hosted on Microsoft Azure and AWS, with Google Analytics for web analytics and Landport for tenant maintenance requests. There is no public disclosure of proprietary AI/ML, no API platform, and no consumer mobile app; the marketing stack is built on a corporate website, an apartment listings site, an ADP-hosted careers portal, and direct phone/email contact. Geographic expansion has been episodic and acquisition-driven, beginning with a ~$200M portfolio across San Diego, the Inland Empire, Phoenix, and central Indiana in 1999, followed by 18 properties in Southwest Florida and the Florida Panhandle in 2018, and 12 communities in Georgia, North Carolina, and South Carolina in 2020-2021, with stated intent to continue acquiring in the Carolinas and Georgia.

Name

Pedcor Homes

Legal name

Pedcor Homes Corporation

Website

https://pedcorhomes.com

Company type

Private

Founded year

1999

Operating status

Operating

Headcount range

101–250 employees

Short description

Pedcor Homes, a wholly-owned subsidiary of United Fidelity Bank, develops, constructs, and manages a portfolio of 53 affordable and market-rate apartment properties (9,400+ units) across 7 US states, plus commercial facilities management in Carmel, IN.

Ownership category

akta.pro rank

Product category

Real Estate Development & Property Management

NAICS

New Multifamily Housing Construction (except For-Sale Builders) (236116), Residential Building Construction (2361)

SIC

Operators Of Apartment Buildings (6513), Services-Facilities Support Management Services (8744)

akta.pro primary industry

Multifamily Apartment Property Management (BPAJAFAA)

akta.pro secondary industries

Affordable & Subsidized Housing Property Management (LIHTC, Section 8) (BPAJAFAD), Multi-Family Residential Construction (Apartments, Condos, Townhomes) (IMAFABAB)

Keywords

• Affordable housing development
• Market-rate apartments
• Property management
• Facilities management
• Real estate acquisitions

Headquarters

HQ city

Carmel

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Apartment Rental Income: Revenue generated from rental income across 53 apartment properties totaling over 9,400 units, including both affordable housing and market-rate apartments throughout IN, IL, TN, FL, NC, SC, and GA.
2. Facilities Management Services: Facility management services provided on over 800,000 square feet of retail, restaurant, office and warehouse space for Pedcor-partnered buildings in Carmel, IN.
3. Acquisition Management Services: Acting as acquisition manager and rehabilitation construction manager for affiliated companies Pedcor Housing Corporation and Village Capital Corporation, acquiring properties as investment opportunities.
4. Valet Parking Services: Complimentary valet parking services provided to enhance the Carmel City Center experience for visitors and commercial tenants.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Pedcor Homes develops, constructs, and manages affordable and market-rate apartment communities (53 properties, over 9,400 units across IN, IL, TN, FL, NC, SC, and GA), provides facilities management services for commercial buildings, and delivers acquisition and rehabilitation construction management services for affiliated investors with all-cash purchases enabling 30/30 due diligence and 60-day closing timelines.

Product overview

Pedcor Homes is a real estate development and property management company offering a unified portfolio of services centered on apartment communities and commercial facilities. The core offering consists of apartment portfolio management (53 properties, 9,400+ units across 7 states) supplemented by facilities management services (800,000+ sq ft of commercial space) and valet services at its flagship Carmel City Center location. The company also provides acquisition management for affiliated investment entities, enabling rapid all-cash transactions with streamlined due diligence.

Differentiator

Problem solved

Functional benefit

Products and services

• Pedcor Homes Apartment Portfolio Development, construction, and management of affordable and market-rate apartment communities across the United States, totaling 53 properties and over 9,400 units located in IN, IL, TN, FL, NC, SC, and GA. Served to individuals and families as renters.
• Facilities Management Services Facility management services provided on over 800,000 square feet of retail, restaurant, office, and warehouse space for Pedcor-partnered buildings in Carmel, IN, including Carmel City Center, The Indiana Design Center, Carmel Old Town Shops, and Pedcor Campus. Served to commercial tenants and property owners.
• CCC Valet Complimentary valet parking service at Carmel City Center, operating Wednesday through Saturday evenings, to enhance the experience for visitors and commercial tenants.
• Acquisition Management Acquisition manager and rehabilitation construction manager services for affiliated companies Pedcor Housing Corporation and Village Capital Corporation, acquiring projects as investment opportunities with all-cash purchases enabling 30/30 due diligence and 60-day closing timelines.

Quantifiable outcome

• Portfolio of 53 properties totaling over 9,400 apartment units
• +4 more outcomes

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Scale indicators9 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Greystar Real Estate Partners: Greystar is the largest multifamily property manager and a major developer and investor globally. While much larger and broader in scope, it is the dominant third-party manager and operator that competes for the same acquisition opportunities and management contracts Pedcor targets.
• Asset Living: Asset Living is one of the largest third-party multifamily property managers in the U.S., managing over 200,000 units. It is comparable to Pedcor's property management arm and competes for institutional third-party management contracts at similar asset sizes.
• Mid-America Apartment Communities: MAA is a publicly traded multifamily REIT with over 100,000 units concentrated in the Sunbelt. It is a relevant comparable for Pedcor's Sunbelt-focused market-rate portfolio, though at materially greater scale and with public-market capital access.

Direct peers

• Bozzuto Group: Bozzuto is a privately held multifamily developer, owner, and operator active in the Mid-Atlantic, Northeast, and Sunbelt. Its integrated development and management platform and mixed-income exposure closely resemble Pedcor's structure.
• Harbor Group International: Harbor Group International is a privately held real estate investment and management firm owning and operating multifamily housing across the U.S. It matches Pedcor's profile as a private, vertically integrated multifamily owner-operator pursuing scale through acquisitions.
• Weidner Apartment Homes: Weidner Apartment Homes is a private multifamily owner and operator with a portfolio of tens of thousands of units concentrated in the U.S. and Canada. It is a direct comparable as a large-scale private apartment operator pursuing similar growth-by-acquisition.
• Fairfield Residential: Fairfield Residential is a national multifamily owner, operator, and developer of market-rate and affordable apartments. Its vertically integrated build-to-rent and acquisition strategy and large unit count closely parallel Pedcor's operating model.
• WinnCompanies: WinnCompanies is a multifamily owner, developer, and property manager with a large affordable housing portfolio alongside market-rate units across multiple U.S. states. Comparable to Pedcor in vertical integration, resident services, and mixed-income property management at scale.
• The Michaels Organization: The Michaels Organization is a vertically integrated national multifamily developer, owner, and operator specializing in affordable and market-rate housing. It is one of the largest LIHTC syndicators in the U.S. and directly parallels Pedcor's develop-finance-construct-manage model with similar affordable/market-rate mix.

Others

• JLL (Multifamily Capital Markets): JLL is a global commercial real estate services firm active in multifamily investment sales, debt placement, and property management. It is relevant as a counterparty and competitor in the same acquisition and management services market where Pedcor operates.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries3 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 Pedcor Homes