Flournoy Properties Group

What Flournoy Properties Group does

Flournoy Properties Group, legally Flournoy Development Group LLC, is a privately held real estate development and property management company headquartered in Columbus, Georgia. Founded in 1967 and operating as a subsidiary of Kajima USA Group, the company has developed more than 48,000 residential units, $5 billion+ in developed assets, and 200+ communities across 25 active markets in the Southeast and Sunbelt regions of the United States, spanning Texas, Florida, Georgia, Alabama, Tennessee, Kentucky, North Carolina, South Carolina, and Virginia.

The company operates through two integrated service lines: Development Services and Property Management Services. The development arm produces Class A multifamily, build-to-rent, and active adult communities, with the Ellison sub-brand representing named residential properties (e.g., Ellison at The Exchange in Buford, GA; Ellison Parkview in Atlanta, GA; Ellison at the Preserve in Asheville, NC; Ellison Mallard Creek in Charlotte, NC). The property management arm delivers boutique, fully integrated management for premier communities with a stated commitment to five-star resident experience. The company employs 111 people and sells through direct relationships with property owners, investors, REITs, and institutional capital providers, using a sales-led go-to-market motion across the Southeast and Mid-Atlantic. Revenue is generated from development fees and property management fees, both quote-based and not publicly disclosed.

Name

Flournoy Properties Group

Legal name

Flournoy Development Group LLC

Website

https://flournoyproperties.com

Company type

Private

Founded year

1967

Operating status

Operating

Headcount range

101–250 employees

Short description

Flournoy Properties Group is a Southeastern U.S. real estate developer and boutique property manager that develops and manages Class A multifamily, build-to-rent, and active adult communities across 25 markets for institutional investors and residents.

Ownership category

akta.pro rank

Product category

Residential Real Estate Development

NAICS

Real Estate Property Managers (53131)

SIC

Land Subdividers & Developers (No Cemeteries) (6552)

akta.pro primary industry

Core Real Estate (Stabilized/Core-Plus) (FSAAAKAA)

Keywords

• Multifamily real estate development
• Build-to-rent development
• Property management services
• Active adult communities
• Residential real estate investment

Headquarters

HQ city

Columbus

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Development Services: Flournoy develops Class A multifamily, build-to-rent, and active adult communities from concept to completion. Revenue is generated through development fees, construction oversight, and potentially through ownership stakes in developed properties.
2. Property Management Services: Boutique property management services for premier communities. Revenue is generated through management fees charged to property owners and investors who engage Flournoy's services.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

Flournoy Properties Group is a vertically integrated real estate firm that develops Class A residential communities — multifamily apartments, build-to-rent single-family rentals, and active adult (55+) communities — across the Southeast and Sunbelt U.S. The company also provides boutique, in-house property management services for its own portfolio and for third-party owners and investors, with more than 48,000 units developed and $5 billion+ in developed assets across approximately 25 active markets.

Product overview

Flournoy Properties Group operates as a unified platform offering two integrated service lines: Development Services (Multifamily, Build-to-Rent, and Active Adult verticals) and Property Management Services. The development arm crafts communities from concept to completion, with the Ellison brand representing named residential communities (e.g., Ellison at The Exchange, Ellison Parkview, Ellison at the Preserve, Ellison Mallard Creek). The property management arm provides fully integrated boutique management for premier communities. Together, these services enable the company to create and operate remarkable residential communities across the Southeast and Mid-Atlantic markets.

Differentiator

Problem solved

Functional benefit

Brands

• Ellison: Sub-brand for residential communities including Ellison at The Exchange, Ellison Parkview, Ellison at the Preserve, and Ellison Mallard Creek.

Products and services

• Development Services (Multifamily) Full-cycle Class A multifamily apartment development for property owners and investors, including site selection, design, construction oversight, and delivery of stabilized communities across the Southeast and Sunbelt U.S.
• Build-to-Rent Development Services Single-family build-to-rent community development for property owners and investors, delivering purpose-built rental homes in high-growth Sunbelt and Southeast submarkets.
• Active Adult (55+) Development Services Development of active adult (55+) residential communities, designed for the lifestyle and service expectations of older renters and delivered to property owners and investors.
• Property Management Services Boutique, in-house property management services covering leasing, maintenance, accounting, and resident experience for both Flournoy-owned and third-party-owned communities across approximately 25 active markets.
• Ellison Residential Communities Branded Class A residential rental communities (multifamily, build-to-rent, and active adult) delivered under the Ellison brand, leased directly to individual residents and built/managed by Flournoy.

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators6 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Lincoln Property Company: Lincoln Property Company is a vertically integrated multifamily and commercial real estate developer and manager. Its residential development and third-party management platform directly parallels Flournoy's integrated development-plus-management model.
• Trammell Crow Company: Trammell Crow is a major national commercial and multifamily real estate developer. Its multifamily development platform and institutional capital relationships make it a direct comparable to Flournoy's development business.
• Greystar Real Estate Partners: Greystar is the largest multifamily property manager and a major developer in the US, with deep Sunbelt exposure. Like Flournoy, it operates both development and property management platforms serving Class A multifamily communities, making it the closest direct peer.
• Wood Partners: Wood Partners is a national multifamily developer with a heavy Southeast/Sunbelt presence and a focus on Class A communities. It is highly comparable to Flournoy's development arm in product type, geographic mix, and target customer.
• Mid-America Apartment Communities (MAA): MAA is a Sunbelt-focused multifamily REIT that develops, acquires, and manages Class A apartment communities. Its geographic concentration and product focus overlap closely with Flournoy's footprint and target tenant base.
• JLB Partners: JLB Partners is a Dallas-based multifamily developer focused on the Sunbelt. Its product mix, Class A focus, and regional footprint directly overlap Flournoy's core markets including Texas, Florida, Georgia, and the Carolinas.
• Camden Property Trust: Camden Property Trust is a multifamily REIT that develops and manages Class A apartment communities across the Sunbelt. It is comparable to Flournoy in product type, target demographic, and Southeast/Sunbelt operating geography.
• Mill Creek Residential: Mill Creek Residential is a multifamily and build-to-rent developer with strong Sunbelt exposure. Its BTR and Class A multifamily focus makes it a direct comparable to Flournoy's development verticals.

Broad incumbents

• Toll Brothers: Toll Brothers is a national luxury homebuilder that has expanded into active adult and build-to-rent through Toll Brothers Apartment Living. Its active adult and rental living verticals overlap with Flournoy's emerging product lines.
• PulteGroup (Del Webb): PulteGroup is one of the largest US homebuilders, with its Del Webb brand a leading active adult (55+) community operator. Its active adult focus and for-sale housing platform make it a broad competitive comparable to Flournoy's active adult and multifamily development.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/flournoycompanies
• LinkedInlinkedin.com/company/flournoy-properties
• Instagraminstagram.com/flournoypropertiesgroup

Revenue estimate

Valuation estimate

Number of profiles

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 Flournoy Properties Group