Ravine Park Partners

What Ravine Park Partners does

Ravine Park Partners is a private Chicago-area real estate investment and development firm founded in 2008 as a joint venture between Annenberg Investments (Jeff Annenberg) and Moyer Properties (Greg Moyer). The firm acquires, repositions, develops, and manages multifamily, commercial office, industrial, retail, and mixed-use properties across the U.S. — with an active footprint spanning Illinois, Wisconsin, Indiana, Ohio, Arizona, and South Carolina. Its portfolio spans more than thirty disclosed assets ranging from a 48-unit apartment building to a 330,000 SF office tower, including signature holdings such as the Barilla Pasta HQ in Northbrook, IL, the Hawthorn Apartments in Somers, WI, the 300 West Adams office building in Chicago, and the 877 Torrington Road industrial facility in Clinton, SC.

The operating model combines direct acquisitions, asset repositioning, ground-up development, asset management, and property management under one platform, with services sourced primarily through the principals' direct relationships rather than third-party marketing. Pricing is transaction-specific and not publicly disclosed; revenue derives from capital appreciation, rental income, asset management fees, and gains realized at disposition. Repeat joint-venture partnerships — notably with Legacy Varin Property Management (six multifamily assets), Development Resources Inc. (land and retail), Farpoint (industrial), and Sterling Bay (Chicago office/retail) — provide co-development and co-investment capacity. Financing relationships with Fannie Mae, Freddie Mac, American National Bank, Associated Bank, AIG, Voya, and Heitman underwrite the firm's ability to recycle capital across deals.

The team is concentrated in four principals with 90+ years of combined commercial real estate experience: Founding Partners Jeff Annenberg (prior SVP at Heitman Financial overseeing $2B+ of Class A assets) and Greg Moyer (25 years at Marcus & Millichap before founding Moyer Properties in 2008), Partner Keith Fanelli (construction, asset management, underwriting; joined 2009), and Associate Cooper Annenberg (joined fall 2020 from RKF). No institutional private equity or venture capital sponsorship is indicated; ownership sits with the two affiliated operating entities and individual partners. Disclosed deal economics demonstrate a value-add investment thesis: IRRs of 14%–82% and MOICs of 1.9x–14x across representative exits, with more than $800M of property acquisitions and redevelopments over firm history.

Name

Ravine Park Partners

Legal name

Ravine Park Partners LLC

Website

https://ravinepark.com

Company type

Private

Founded year

2008

Operating status

Operating

Headcount range

1–10 employees

Short description

Ravine Park Partners is a private Chicago-area real estate investment firm that acquires, repositions, develops, and manages multifamily, office, industrial, and retail properties across the U.S. for JV partners, credit tenants, and institutional buyers.

Ownership category

akta.pro rank

Headquarters

HQ city

Chicago

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Property Acquisition and Development: Acquiring, developing, repositioning, and managing commercial and residential real estate properties for profit through capital appreciation and operational income.

Distribution channels1 record

Marketing channels1 record

Core offering

Ravine Park Partners is a real estate investment and development firm that acquires, repositions, develops, and manages multifamily, office, industrial, and retail properties across the United States. The company provides a unified suite of services spanning acquisitions, asset repositioning, ground-up property development, asset management, and day-to-day property management for investors and national tenants.

Product overview

Ravine Park Partners is a real estate investment and development company structured as a joint venture between Annenberg Investments and Moyer Properties. The company offers a unified suite of real estate services including acquisitions, asset repositioning, property development, asset management, and property management. Their portfolio spans diverse property types—multifamily (apartment complexes ranging from 48 to 248 units), commercial office (Class A office buildings), industrial (flex buildings and warehouse facilities), retail (shopping centers and tenant-occupied properties), and land development. The company's value proposition centers on identifying underperforming assets, repositioning them through strategic improvements, and managing them for superior occupancy and returns. Notable named property products include residential complexes (Woodview Apartments, Buffalo Creek Apartments, Georgetown Apartments, Hawthorn Apartments, Falls at Pike Creek, Park 150, The Waters at Pike Creek, Clare Meadows Apartments, Central Park Apartments, Park Colony Apartments), mixed-use developments (Lakeview 3200 with Target retail), commercial properties (Barilla Pasta HQ, Roosevelt Galleria, The East Ohio Building, 300 West Adams), and industrial assets (877 Torrington Road, Green Oaks Flex Buildings). The company emphasizes partnerships with Legacy Varin Realty, Development Resources Inc., Farpoint Development, and Sterling Bay across its projects.

Differentiator

Problem solved

Functional benefit

Products and services

• Acquisitions

Quantifiable outcome

• Investor IRR of 14.38% and MOIC of 3.09x on Barilla Pasta HQ property (2010-2020)
• +5 more outcomes

Named customers11 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

15 partnerships are on record, tiered core and minor.

• Sterling BaycoreStrategic or Co-development PartnerJoint venture partner on multiple Chicago-area properties including 300 West Adams, 612 South Clinton, and Roosevelt Galleria.
• Conor Commercial Real EstatecoreStrategic or Co-development PartnerJoint venture partner on Woodview Apartments development in Deerfield, Illinois.
• CRGminorStrategic or Co-development PartnerJoint venture partner for real estate development projects.
• FarpointcoreStrategic or Co-development PartnerJoint venture partner on 877 Torrington Road industrial property in Clinton, SC.
• The McShane CompaniescoreStrategic or Co-development PartnerJoint venture partner on Woodview Apartments development in Deerfield, Illinois.
• Legacy Varin Property ManagementcoreStrategic or Co-development PartnerLong-standing joint venture partner on multiple multifamily properties including Buffalo Creek, Georgetown, Central Park, Falls at Pike Creek, Hawthorn, and Park 150.
• BerkadiaminorChannel Partner/ Reseller/ DistributorCommercial real estate broker providing property listings and transaction services.
• CBREminorChannel Partner/ Reseller/ DistributorGlobal commercial real estate services and investment firm providing brokerage services.
• ColliersminorChannel Partner/ Reseller/ DistributorGlobal investment management and advisory company providing brokerage services.
• JLLminorChannel Partner/ Reseller/ DistributorProfessional services and investment management firm providing commercial real estate brokerage.
• Marcus & MillichapminorChannel Partner/ Reseller/ DistributorCommercial real estate brokerage firm providing property transaction services.
• NewmarkminorChannel Partner/ Reseller/ DistributorCommercial real estate advisory firm providing brokerage services.
• Walker & DunlopminorChannel Partner/ Reseller/ DistributorCommercial real estate finance and advisory firm providing lending and brokerage services.
• Development Resources Inc.coreStrategic or Co-development PartnerJoint venture partner on Elston Avenue Land (6.32 acres, purchased November 2016, sold January 2023) and Rosemont Land (22 acres, purchased October 2017, sold November 2023).
• Development Resources Inc.coreStrategic or Co-development PartnerJoint venture partner on Roosevelt Galleria retail center (42,000 SF, purchased June 2012, sold March 2016).

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Heitman: Global real estate investment manager where founding partner Jeff Annenberg was previously Senior VP overseeing a $2B+ Class A portfolio; Heitman is a current mezzanine capital partner and operates an overlapping commercial real estate acquisition and management model.
• Moyer Properties: Co-founder Greg Moyer's personal investment firm founded in 2008 that is a JV parent of Ravine Park Partners; directly comparable as a small-Midwest multifamily acquisition and management platform managing 1,000+ units.
• CRG: Real estate development and investment firm listed as a joint-venture partner on Ravine Park development projects; operates in an adjacent Midwest / national multifamily and mixed-use development lane with comparable value-add approach.
• Annenberg Investments: Co-founder Jeff Annenberg's investment firm that is the other JV parent of Ravine Park Partners; comparable as a principal CRE acquirer with $850M+ in deals since 1995 across multifamily, office, industrial and retail.
• Farpoint Development: Industrial-focused developer that partnered with Ravine Park on 877 Torrington Road in Clinton, SC — directly comparable on industrial asset underwriting, leasing execution and Sunbelt geographic positioning.
• Conor Commercial Real Estate: Multifamily-focused developer that co-developed Woodview Apartments in Deerfield, IL with Ravine Park Partners; operates in the same Midwest value-add multifamily niche with comparable unit counts and repositioning strategy.
• Marcus & Millichap: National commercial real estate brokerage where co-founder Greg Moyer spent 25 years on the national expansion team; comparable on multifamily and commercial investment sales, capital markets and Midwest deal flow.
• Sterling Bay: Chicago-focused commercial real estate developer and investor that has been a recurring joint-venture partner with Ravine Park Partners on multiple Chicago assets including 300 West Adams, 612 South Clinton and Roosevelt Galleria — comparable in deal geography, asset classes (office, multifamily, retail) and JV-driven value-add model.
• Legacy Varin Property Management: Long-standing multifamily JV partner on Buffalo Creek, Georgetown, Central Park, Falls at Pike Creek, Hawthorn and Park 150 — runs a similar Midwest multifamily acquisition and repositioning platform anchored by 1,000+ units managed.
• The McShane Companies: National design-build and real estate developer that co-developed Woodview Apartments in Deerfield, IL with Ravine Park; comparable in multifamily development execution, construction capability and Midwest project footprint.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/ravine-park-partners

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 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 Ravine Park Partners