North Town Partners formerly Van Horn Development

What North Town Partners formerly Van Horn Development does

North Town Partners (formerly Van Horn Development / Van Horn Real Estate Development) is a Wisconsin-based real estate development and investment firm founded in 2017 and headquartered in Sheboygan, WI. The company develops, owns, and operates a portfolio of multi-family residential and commercial properties concentrated in Sheboygan, Plymouth, Brookfield, and Watertown, with reported assets under management of $89M (current) versus $85M in 2024. Its product portfolio includes ground-up multi-family developments (The Apartments at North Town, 170 units, opened 2024; Kingsbury Village, 33 townhomes; the previously completed and sold Pineview Park Apartments, 54 units), planned luxury townhome and build-to-rent projects (The Oxbow in Watertown, $25M project cost, and The Villages at North Town, 14 single-family rentals plus 40 townhomes), a forthcoming 188-unit Charter Senior Living community (opening 2027), and commercial properties anchored by national retailers such as Michaels, PGA Superstore, McDonald's, Harbor Freight, Dunham's Sports, Marcus Theaters, Home2 Suites by Hilton, and Jimmy Johns. The firm also operates on-site amenities RISE Fitness (7,700 sq. ft., established August 2020) and Golf 365 within the North Town Sheboygan master-planned community.

The company operates a vertically integrated model spanning site acquisition, municipal negotiations, construction management, and ongoing property management. It relies on no proprietary technology platform; investor relations are handled through an AppFolio investor portal and direct outreach via introductory calls with prospective family offices and accredited investors. Offerings are structured as private placements limited to accredited investors, with disclosed projected returns including 12% cash-on-cash and 2.44x 10-year equity multiple for The Oxbow. Realized exits include Pineview Park Apartments, sold in September 2020 for $5.4M (6.2% cap rate) on a $4.35M build cost. North Town Partners was spun off as an independent entity in 2022 during the employee buyout of its former parent, Van Horn Automotive Group, and was rebranded from Van Horn Real Estate Development to North Town Partners in 2024 to reflect its separate identity.

The go-to-market is direct sales-led, targeting family offices and accredited investors through introductory calls and the investor portal, supplemented by organic social (Instagram, Facebook, LinkedIn) for top-of-funnel visibility. The leadership team consists of founder and majority owner Chuck Van Horn (former CEO of Van Horn Automotive Group), Principal and Director of Real Estate Development Chris Merklein (a Wisconsin licensed real estate broker who handles municipal relationships), and Controller Charmayne Barrington-Anderson. Total headcount is approximately 10 employees. Pricing of investment offerings is not publicly disclosed; tenant pricing is property-specific.

Name

North Town Partners formerly Van Horn Development

Legal name

North Town Partners

Website

https://northtownpartners.com

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

1–10 employees

Short description

North Town Partners is a Wisconsin-based real estate development and investment firm managing $89M in assets, developing multi-family residential and commercial properties across Sheboygan, Plymouth, Brookfield, and Watertown for accredited investors and family offices.

Ownership category

akta.pro rank

Product category

Real Estate Development

NAICS

Residential Property Managers (531311), Real Estate Property Managers (53131), Other Activities Related to Real Estate (531390)

SIC

Real Estate Dealers (For Their Own Account) (6532), Investors, Nec (6799), Operators Of Nonresidential Buildings (6512)

akta.pro primary industry

New Construction & Builder Sales (BPAJAAAB)

akta.pro secondary industry

Independent Living Real Estate Owners/Operators (REITs & Management Companies) (HLADAAAG)

Keywords

• Real estate development
• Property investment management
• Multi-family residential development
• Commercial real estate
• Private real estate offerings

Headquarters

HQ city

Sheboygan

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Real Estate Investment Offerings: The company raises capital from accredited investors through private real estate investment offerings. Investors receive projected cash-on-cash returns and equity multiples from property development and rental income. Example: The Oxbow project projects a 12% cash-on-cash return with 2.44x 10-year equity multiple.
2. Commercial and Residential Property Rental Income: The company generates recurring rental income from its portfolio of commercial and residential properties including retail spaces, industrial buildings, multi-family apartments, and hotel properties.
3. Property Sale/Exit: The company realizes gains through the sale of completed developments. Example: Pineview Park Apartments was sold for $5.4 million in September 2020.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

North Town Partners develops, owns, and manages residential and commercial real estate properties in Wisconsin, offering private placement investment opportunities to accredited investors and family offices. The company's portfolio includes multi-family apartments, luxury townhomes, senior living communities, and commercial retail/industrial properties, with operations spanning development, property management, and investor relations.

Product overview

North Town Partners operates as a real estate investment and development company offering a portfolio of residential and commercial properties across Wisconsin. The company's product portfolio includes multi-family residential developments (The Apartments at North Town with 170 units, Kingsbury Village with 33 units, and the completed/exited Pineview Park Apartments), planned luxury townhome projects (The Oxbow and The Villages at North Town), and commercial properties (Michaels, PGA Superstore, Jimmy Johns, Home2 Suites by Hilton, Memorial Plaza). The company also provides on-site amenities including RISE Fitness and Golf 365 at its residential developments, and is developing a senior living community (Charter Senior Living) opening in 2027. North Town Partners primarily serves family office and accredited investors seeking private real estate investment opportunities.

Differentiator

Problem solved

Functional benefit

Products and services

• The Oxbow Luxury townhome and apartment development project in Watertown, WI featuring a 65-unit apartment building and 3 townhome buildings (6 units) built along the Rock River. A $25M project projected at 12% cash-on-cash return with 2.44x 10-year equity multiple, offered as a private placement for accredited investors.
• The Villages at North Town Single-family luxury rental homes (14 units) and luxury townhomes (40 units) development in Sheboygan County, WI, part of the North Town master-planned community with walking paths and proximity to the Town of Sheboygan's new three-acre town square.
• The Apartments at North Town 170-unit luxury apartment complex in Sheboygan, WI offering 1, 2, and 3 bedroom apartments with on-site amenities including RISE Fitness and Golf 365.
• Kingsbury Village 33-unit luxury townhome development in downtown Sheboygan located on a brownfield site along the river, with total development cost of $8.1 million and 7.0% cap rate on stabilization.
• Charter Senior Living 188-unit senior living development at North Town in Sheboygan, WI accommodating independent living, assisted living, and memory care residents, operated by Charter Senior Living and slated to open in 2027.

Named customers9 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators7 records

Recent moves9 records

Expansion highlights5 records

Broad incumbents

• Welltower: Public healthcare REIT (NYSE: WELL) that is the dominant U.S. owner/operator of senior living, including partnerships with Charter Senior Living (North Town's senior living operator partner). Comparable as the institutional capital partner of record for many of the operators North Town's senior living development serves, and a benchmark for senior-living asset valuations.

Emerging players

• CrowdStreet: Online marketplace that lets accredited investors buy individual CRE deals and funds from sponsors across the U.S. Comparable as an alternative channel for accredited investor deal flow potentially competing for the same LP dollars North Town targets via its AppFolio investor portal.
• Fundrise: Washington, D.C.-based online real estate investment platform offering private placements to individual (and historically accredited) investors in development and income-producing assets. Comparable as a competing capital-formation platform for private real estate investors, though substantially larger and more diversified nationally.
• Anderson Ashton Design + Build: Brookfield, WI-based boutique design-build and development firm active in residential and mixed-use projects in southeastern Wisconsin. Comparable as a small, local Wisconsin developer in adjacent product categories but smaller in scale and less investment-platform oriented.

Direct peers

• Hammes Partners: Brookfield, WI-based real estate developer specializing in healthcare, medical office and select residential development across the U.S. Comparable as a Wisconsin-headquartered developer with a similar vertically integrated build-and-hold strategy and institutional-style project execution.
• General Capital Group: Milwaukee-based real estate development and investment firm focused on residential, retail, office and mixed-use projects in Wisconsin and the upper Midwest. Comparable as a similarly scaled regional developer that develops to hold or sell.
• Wangard Partners: Wauwatosa, WI-based commercial real estate developer and investor active in office, industrial, retail and multi-family across Wisconsin. Highly comparable because both firms develop, own and operate Wisconsin real estate while raising capital from private investors for value-add and ground-up projects.
• Quarles Capital: Brookfield, WI-based boutique commercial real estate investment and development firm sourcing capital from private investors for ground-up development in the upper Midwest. Comparable as a closely held Wisconsin developer with a similar LP-driven capital stack and project sizes in the $10M-$30M range.
• Irgens Development Partners: Milwaukee-based full-service commercial real estate developer with a development, investment and property management platform across the Midwest. Closely mirrors North Town's vertically integrated model (develop-to-own, manage in-house, deploy LP capital) with similar scale.
• The Commonwealth Companies: Madison, WI-based developer with residential, commercial and senior living development experience; previously listed as an employer of North Town's controller. Highly comparable given overlapping Wisconsin footprint, residential and senior-living focus, and similar mid-market development scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/VanHornRealEstate
• LinkedInlinkedin.com/company/north-town-partners
• Instagraminstagram.com/northtownadelineapartments

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 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 North Town Partners formerly Van Horn Development