JMI Realty
JMI Realty is a private real estate investment and development firm, founded in 1992 as the real estate subsidiary of JMI Services, Inc. The firm develops, acquires, and repositions hotels, mixed-use, multifamily, and office properties across the US for institutional investors, REITs, and public-sector partners.
- Company typePrivate
- Founded1992
- HeadquartersAustin, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
What JMI Realty does
JMI Realty is a private real estate investment and development firm organized in 1992 as the real estate investment subsidiary of JMI Services, Inc., the investment vehicle of the John J. Moores family. The firm develops, acquires, repositions, and sells large-scale lodging, mixed-use, multifamily, and office projects across the United States. Its current real estate investment portfolio is valued at approximately $800 million, and it has executed roughly $550 million in completed land, office, hotel, and multifamily sales since inception. The firm's lodging footprint includes approximately 1,030 completed hotel rooms across three ground-up developments, nearly 1,000 acquired rooms, three hotels comprising nearly 2,500 rooms in active development, and over 3,000 rooms acquired and repositioned in aggregate.
Revenue is generated through one-time gains on real estate development and disposition, plus recurring management fees and carried interest from managing its investment portfolio. The firm goes to market exclusively through direct, enterprise-grade relationships with institutional investors, REITs (e.g., Sunstone Hotel Investors, LaSalle Hotel Properties), private equity, family offices, and public-sector partners such as the City of San Diego, the San Diego Padres, and the City of Fullerton. Major capital co-investors across its deal history include Goldman Sachs, Merrill Lynch, Carey Watermark Investors, Siguler Guff, Behringer Harvard, and Sycuan Tribal Development Corporation. Distribution channels are 100% direct-to-enterprise; there is no retail, marketplace, or channel-partner model.
Its underlying technology and capabilities are proprietary deal sourcing, underwriting, debt and equity financing, franchise negotiation, construction oversight, and asset management - not a software platform. There is no unified technology product offering, no mobile app, no API, and no documented AI/ML capability. The firm operates from a single headquarters at 111 Congress Avenue, Suite 800, Austin, Texas, and is led by CEO John Kratzer, who joined John Moores in 1998, co-founded HomeGate Hospitality (sold for ~$192 million at 2.8x multiple and 81.5% net IRR), and began his career at Trammell Crow Realty Advisors. The firm is appointed Master Developer of the Ballpark District adjacent to PETCO Park in San Diego (with $3.0B+ in redevelopment value) and Master Planner for the Fullerton Transportation Center, defining its core competitive differentiation as an integrated master developer and hospitality investor rather than a technology or product company.
JMI Realty firmographics
Firmographics- Name
- JMI Realty
- Legal name
- JMI Realty LLC
- Website
- https://jmirealty.com
- Company type
- Private
- Founded year
- 1992
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- JMI Realty is a private real estate investment and development firm, founded in 1992 as the real estate subsidiary of JMI Services, Inc. The firm develops, acquires, and repositions hotels, mixed-use, multifamily, and office properties across the US for institutional investors, REITs, and public-sector partners.
- Ownership category
- akta.pro rank
JMI Realty industry classification
Industry- Product category
- Real Estate Investment and Development
- NAICS
- Other Activities Related to Real Estate (531390), Real Estate Property Managers (53131)
- SIC
- Real Estate Dealers (For Their Own Account) (6532), Investors, Nec (6799)
- akta.pro primary industry
- Real Estate Development & Feasibility Advisory (Highest-and-Best-Use, Entitlements Support) (BPAJANAC)
- akta.pro secondary industries
- Family Office Investment Platforms & Direct Investing (PE/VC/Co-Invest) (FSAAADAH), Real Estate M&A / Joint Venture Advisory (Platform Deals, Partnerships) (BPAJANAF)
Keywords
Where JMI Realty is headquartered
LocationHeadquarters
- HQ city
- Austin
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
JMI Realty business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Infrastructure, Marketing or Sales, Others
Revenue model
- Real Estate Development: JMI Realty generates returns through developing hotels, mixed-use, multifamily, and office properties, then selling or maintaining ownership of completed assets.
- Investment Management: Management fees and carried interest from managing the company's real estate investment portfolio valued at approximately $800 million.
- Property Acquisition and Repositioning: Acquiring underperforming hotel properties, renovating and rebranding them, then selling for profit or holding for ongoing income.
Go-to-market motion1 record
Distribution channels3 records
Marketing channels4 records
JMI Realty product offering
Product offeringCore offering
JMI Realty is a private real estate investment and development firm that sources, underwrites, finances, develops, and manages lodging, mixed-use, multifamily, and office real estate projects across the United States. The firm partners with institutional investors, REITs, private equity, and family offices on individual developments, earning returns through development profits, asset sales, and ongoing investment management fees. Its portfolio spans hotel acquisition and repositioning, urban master-plan redevelopment (notably San Diego's Ballpark District), luxury condominiums, and Class-A office campuses.
Product overview
JMI Realty is a private real estate investment and development firm organized in 1992 as the real estate investment subsidiary of JMI Services, Inc. (the investment vehicle of the John J. Moores family). The firm operates as a single-entity real estate investment platform rather than a software product company. Its portfolio consists of four distinct product categories: Lodging Properties (hotels developed, acquired, and re-positioned), Urban Redevelopment (mixed-use master plan developments), Residential Properties (multifamily and condominium projects), and Office Projects. The lodging portfolio includes approximately 1,340 completed hotel rooms across four properties plus over 3,000 acquired and re-positioned rooms across multiple hotel assets. The company currently manages a real estate investment portfolio valued at approximately $800 million and has sold approximately $550 million of land, office, hotel, and multifamily investments. There is no unified software platform or technology product offering.
Differentiator
Problem solved
Functional benefit
Products and services
- Alila Marea Beach Resort Encinitas Fully entitled 130-room luxury hotel development featuring three food and beverage outlets and over 11,000 square feet of event and meeting space, set on a bluff-top site in Encinitas, California with panoramic beach and lagoon views.
- Kimpton Hotel Fontenot 208-room Kimpton boutique hotel in New Orleans' Warehouse District acquired in 2018 and reopened in Q1 2020 following a $17 million-plus renovation.
- Omni San Diego Hotel
- Marquette Minneapolis
- Hotel Van Zandt 319-room, 16-story Kimpton Boutique Hotel in Austin's Rainey Street District, featuring Geraldine's restaurant, Cafe 605, a pool deck, and approximately 12,000 square feet of meeting space.
- Sheraton Austin at the Capitol 365-room full-service hotel acquired in May 2014 in joint venture with Carey Watermark Investors, featuring 17,250 square feet of meeting and function space including a 9,650 square foot ballroom.
- Hyatt Regency Denver Tech Center 451-room AAA Four Diamond upscale hotel in the Denver Tech Center area with over 30,000 square feet of function space and the Root25 Taphouse & Kitchen.
- Snow King Resort Jackson Hole 203-room resort hotel on 8.28 acres at the base of Snow King Mountain, featuring nearly 16,000 square feet of meeting space, restaurant, lounge, outdoor pool, and fitness facilities.
- Inn at Rancho Santa Fe 80-room luxury Tribute Portfolio Hotel on 21 landscaped acres in the Village of Rancho Santa Fe, featuring Morada Restaurant, Huntsman Whiskey Bar, and nearly 18,000 square feet of meeting space.
- Courtyard Kauai at Coconut Beach 311-room hotel on 10.4 acres of oceanfront land at Coconut Beach in Kapaa, Hawaii, featuring a 272-seat restaurant, 6,200 square feet of meeting space, pool, whirlpool, and tennis court.
- Phoenix Inns & DoubleTree Hotel Portfolio Collection of nearly 937 rooms across ten all-suite hotel properties in Oregon and Washington, acquired in March 2006, later converted to DoubleTree by Hilton franchise and sold in 2014.
- San Diego Marriott Del Mar
- Hotel Solamar San Diego 235-room Kimpton Boutique Hotel on the edge of San Diego's Gaslamp Quarter, featuring JSix restaurant and a 10,000-square-foot rooftop pool deck.
- Holiday Inn Express New Orleans Downtown 129-room limited-service hotel located downtown near the French Quarter, offering hot breakfast buffet, Wi-Fi, fitness center, and outdoor pool.
- Ballpark Village
- Fullerton Transportation Center
- East Village Square
- Island Village
- Casoleil
- The Metropolitan Condominiums 38 ultra-luxury condominium units on floors 22-32 atop the Omni San Diego Hotel, ranging from 1,600 to 2,500 square feet with private entrance, gated parking, pool, and terrace.
- Paseo Del Mar 232,000 rentable square-foot Class-A office campus consisting of three three-story buildings in Del Mar Heights within the San Diego Corporate Park.
Quantifiable outcome
- $3.0 billion+ in redevelopment value created through Ballpark District Master Plan
- +4 more outcomes
Companies that use JMI Realty
Customer profileNamed customers21 records
Segments4 records
Ideal customer profiles3 records
JMI Realty technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
JMI Realty partnerships and signals
Strategic signalPartnerships
15 partnerships are on record, tiered core and minor.
- San Diego PadrescoreThe San Diego Padres, along with the City of San Diego, appointed JMI Realty as Master Developer of the Ballpark District in 1998. This partnership resulted in the successful implementation of the Ballpark District Master Plan and Petco Park development.
- City of San DiegocoreThe City of San Diego, along with the San Diego Padres, appointed JMI Realty as Master Developer of the Ballpark District in 1998. This public-private partnership has been recognized nationally as a template for successful urban revitalization.
- City of FullertoncoreThe City of Fullerton selected a partnership of JMI Realty and the Morgan Group to serve as Master Planner of the Fullerton Transportation Center, a 35-acre transit-oriented development project.
- Morgan GroupcoreJMI Realty partnered with the Morgan Group to serve as Master Planner of the Fullerton Transportation Center project selected by the City of Fullerton.
- Monarch GroupcoreJMI Realty and Monarch Group were responsible for land assemblage and master planning of Island Village, a four-city block urban residential project in San Diego's Ballpark District.
- Aimbridge HospitalitycoreAimbridge Hospitality was operating partner for Phoenix Inns & DoubleTree Portfolio, managing hotel operations after acquisition. They consolidated management, implemented reservation systems, and coordinated franchise conversions.
- Davidson Hotels & ResortsminorDavidson Hotels & Resorts served as operating partner for Courtyard Kauai at Coconut Beach Hotel after acquisition and rebranding.
- Benchmark Hospitality InternationalminorBenchmark Hospitality International was operating partner for Snow King Resort Jackson Hole after acquisition in 2012.
- Kimpton Hotels & RestaurantscoreKimpton is a major brand partner for multiple JMI Realty hotels including Hotel Solamar San Diego, Kimpton Hotel Van Zandt, and Kimpton Hotel Fontenot New Orleans. JMI handles development and franchise relationships with Kimpton brand.
- Hyatt HotelscoreHyatt is brand/franchise partner for Hyatt Regency Denver Tech Center and Marquette Minneapolis (under Curio Collection by Hilton). JMI acquired properties and entered into franchise agreements with Hyatt.
- Marriott InternationalcoreMarriott is brand/franchise partner for San Diego Marriott Del Mar, Courtyard Kauai at Coconut Beach, and Phoenix Inns/DoubleTree Portfolio properties.
- Hilton WorldwidecoreHilton is brand/franchise partner for Marquette Minneapolis (Curio Collection), Sheraton Austin (Starwood/Sheraton), and Phoenix Inns/DoubleTree Portfolio (DoubleTree by Hilton).
- Omni Hotels & ResortscoreOmni Hotels & Resorts is brand/management partner for Omni San Diego Hotel, which was a critical element of the Ballpark District development.
- InterContinental Hotels Group (IHG)minorIHG is brand/franchise partner for Holiday Inn Express New Orleans property.
- Trammell Crow CompanyminorTrammell Crow Company's condominium project The Shore shares amenities with Hotel Van Zandt in Austin's Waterfront District.
Scale indicators10 records
Recent moves9 records
Expansion highlights4 records
JMI Realty competitors and assessment
Company assessmentDirect peers
- Watermark Lodging Trust (formerly Carey Watermark Investors): Hotel-focused private investment platform that was JMI's JV partner on the Sheraton Austin acquisition. Highly comparable as a sponsor of comparable hotel acquisitions, repositionings, and dispositions with similar institutional LP base.
- CIM Group: Private urban real estate investment and development firm focused on mixed-use, multifamily, and hospitality in select U.S. markets — directly comparable in urban revitalization and master developer positioning.
- Trinity Real Estate Investments: Austin-based privately held real estate investment and development firm with similar profile of mixed-use, multifamily, and hospitality projects across the U.S. — directly comparable as a similarly sized Texas-anchored private developer/investor.
Broad incumbents
- Crow Holdings: Large diversified private real estate investment and development firm with significant hospitality, multifamily, and mixed-use activity — comparable as a broader-Platform incumbent; CEO John Kratzer's career began at Trammell Crow Realty Advisors.
- Starwood Capital Group: Large private investment firm with deep hotel and hospitality investment focus — comparable as a broad incumbent that competes for similar lodging investment opportunities at materially larger scale.
- Related Companies: Major diversified private real estate developer known for large-scale mixed-use and master-planned urban developments — comparable as a broader incumbent competing for similar PPP and master developer mandates.
Others
- Aimbridge Hospitality: Largest U.S. hotel management company and operating partner on JMI's Phoenix Inns portfolio — comparable as an ecosystem participant that has partnered with JMI on full-service and select-service hospitality investments.
- LaSalle Hotel Properties (acquired by Pebblebrook): Hotel-focused REIT that acquired Hotel Solamar from JMI in 2006 (now part of Pebblebrook Hotel Trust) — comparable as a buyer of JMI-developed boutique and full-service hotels in urban markets.
- Sunstone Hotel Investors: Publicly-traded hotel REIT that purchased San Diego Marriott Del Mar from JMI in 2006 — comparable as a buyer/holder of full-service and upscale hotels in JMI's target markets, and a potential exit counterparty for current portfolio assets.
- Davidson Hotels & Resorts: Hotel operating partner that managed multiple JMI-owned assets including Courtyard Kauai and Hyatt Regency Denver Tech Center — comparable as an ecosystem participant providing third-party hotel management services to JMI's portfolio.
Market position
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
JMI Realty social profiles
Digital presenceJMI Realty financial estimates
Financial estimateRevenue estimate
Valuation estimate
JMI Realty leadership team
Management profileNumber of profiles
Profiles4 records
JMI Realty funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
JMI Realty 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 JMI Realty
What does JMI Realty do?
JMI Realty is a private real estate investment and development firm that sources, underwrites, finances, develops, and manages lodging, mixed-use, multifamily, and office real estate projects across the United States. The firm partners with institutional investors, REITs, private equity, and family offices on individual developments, earning returns through development profits, asset sales, and ongoing investment management fees. Its portfolio spans hotel acquisition and repositioning, urban master-plan redevelopment (notably San Diego's Ballpark District), luxury condominiums, and Class-A office campuses.
Is JMI Realty a public or private company?
JMI Realty is a private company. It is classified as family owned and is currently operating.
When was JMI Realty founded?
JMI Realty was founded in 1992. It employs 11 to 50 people.
Where is JMI Realty based?
JMI Realty is headquartered in Austin, United States, in the North America region.
How does JMI Realty make money?
Three revenue lines are on record. Real Estate Development is the primary driver. The others are investment Management and property Acquisition and Repositioning.
Who are JMI Realty's main competitors?
Direct peers on record are Watermark Lodging Trust (formerly Carey Watermark Investors), CIM Group and Trinity Real Estate Investments. Broad incumbents are Crow Holdings, Starwood Capital Group and Related Companies. Others are Aimbridge Hospitality, LaSalle Hotel Properties (acquired by Pebblebrook), Sunstone Hotel Investors and Davidson Hotels & Resorts.
Does JMI Realty have an API?
No public API is recorded for JMI Realty.
What industry is JMI Realty in?
JMI Realty's product category is Real Estate Investment and Development. Its primary akta.pro industry code is BPAJANAC, Real Estate Development & Feasibility Advisory (Highest-and-Best-Use, Entitlements Support), with a secondary code of FSAAADAH, Family Office Investment Platforms & Direct Investing (PE/VC/Co-Invest). Its NAICS code is 531390 and its SIC code is 6532.