The Flournoy Companies
The Flournoy Companies is a Southeast and Sunbelt-focused residential real estate developer and operator, founded in 1967 and a subsidiary of Kajima USA Group, that develops and manages multifamily, build-to-rent, and active adult rental housing across 25 markets.
- Company typePrivate
- Founded1967
- HeadquartersColumbus, United States
- Headcount—
- GTM typeB2C
- OfferingServices
What The Flournoy Companies does
The Flournoy Companies is a Columbus, Georgia-based residential real estate firm founded in 1967 that develops, owns, and manages multifamily, build-to-rent, and active adult (55+) rental housing across the Southeast and Sunbelt United States. The company operates through two subsidiaries: Flournoy Development Group, which handles ground-up development and construction, and Flournoy Properties Group, which manages stabilized assets. Since inception, Flournoy has developed more than 48,000 units across 200+ communities and over $5 billion in developed assets, with active operations in 25 markets across North Carolina, Georgia, South Carolina, Tennessee, Virginia, Texas, Florida, Alabama, and Kentucky. The Ellison sub-brand anchors the luxury multifamily product line, with named communities including Ellison at The Exchange (434 units), Ellison Parkview (297 units), Ellison at the Preserve (315 units), and the recently completed Ellison Mallard Creek (397 units, January 2025).
The company generates revenue through a combination of residential rental income from owned and managed communities and property management fees, with monetization distributed across direct leasing, on-site operations, and a centralized web portfolio. Geographic concentration has been progressively reweighted toward Texas and Florida, and the product mix has been extended beyond traditional multifamily into build-to-rent single-family rental and active adult housing, with the most recent Ellison Mallard Creek delivery also incorporating ground-floor retail. Flournoy is a wholly owned subsidiary of Kajima USA Group, the US real estate platform of Japanese conglomerate Kajima Corporation, which underpins capital supply, risk-bearing capacity, and access to broader corporate development resources.
The Flournoy Companies firmographics
Firmographics- Name
- The Flournoy Companies
- Legal name
- Flournoy Development Group LLC
- Website
- https://theflournoycompanies.com
- Company type
- Private
- Founded year
- 1967
- Operating status
- Operating
- Short description
- The Flournoy Companies is a Southeast and Sunbelt-focused residential real estate developer and operator, founded in 1967 and a subsidiary of Kajima USA Group, that develops and manages multifamily, build-to-rent, and active adult rental housing across 25 markets.
- Ownership category
- akta.pro rank
Where The Flournoy Companies is headquartered
LocationHeadquarters
- HQ city
- Columbus
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
The Flournoy Companies business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Operations, Personnel, Infrastructure, Marketing or Sales
Revenue model
- Residential Rental Income: Flournoy generates primary revenue through rental income from multifamily apartment communities, build-to-rent townhome developments, and active adult communities across 25 active markets in the Southeast and Sunbelt.
- Property Management Services: Flournoy Properties Group provides fully integrated boutique property management services for premier communities it develops and potentially for third-party owners, generating management fee revenue.
Go-to-market motion2 records
Distribution channels3 records
Marketing channels6 records
The Flournoy Companies product offering
Product offeringCore offering
The Flournoy Companies develops and manages Class A residential communities in the U.S. Southeast and Sunbelt through two operating groups: Flournoy Development Group builds multifamily, build-to-rent, and active adult (55+) communities from concept to completion, while Flournoy Properties Group provides fully integrated boutique property management services for those premier communities. The company has developed 48,000+ units across 200+ communities since 1967.
Product overview
The Flournoy Companies operates as a unified real estate development and property management platform. The company is organized under two primary operating groups: Flournoy Development Group (which crafts residential communities from concept to completion) and Flournoy Properties Group (which manages communities post-development). The development portfolio centers on the 'Ellison' sub-brand product line, encompassing named communities such as Ellison at The Exchange, Ellison Parkview, Ellison at the Preserve, and Ellison Mallard Creek. Development services span three distinct offerings—Multifamily, Build-to-Rent, and Active Adult—while property management delivers integrated boutique services for premier communities. The Ellison communities range from 297 to 434 units and include both traditional multifamily and mixed-use formats with ground-floor commercial components.
Differentiator
Problem solved
Functional benefit
Brands
- Ellison: Brand name used for multiple residential communities including Ellison at The Exchange, Ellison Parkview, Ellison at the Preserve, and Ellison Mallard Creek.
Products and services
- Multifamily Development Development of Class A multifamily residential communities from concept to completion, leveraging market-driven insights and intentional design for long-lasting value and sustainability. Targeted at prospective residents seeking high-quality rental housing and at capital partners/landowners seeking an experienced development partner.
- Build-to-Rent Development Development of purpose-built for-rent townhome communities designed for individual tenancy, offering residents single-family home-style living with community amenities and management services.
- Active Adult Development
Companies that use The Flournoy Companies
Customer profileSegments4 records
Ideal customer profiles5 records
The Flournoy Companies technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
The Flournoy Companies partnerships and signals
Strategic signalScale indicators7 records
Recent moves6 records
Expansion highlights6 records
The Flournoy Companies competitors and assessment
Company assessmentDirect peers
- Greystar Real Estate Partners: Greystar is the largest multifamily property manager and a major developer/operator globally with substantial Sunbelt exposure. Flournoy competes with Greystar for third-party management contracts and institutional capital partnerships in similar submarkets.
- RangeWater Real Estate: RangeWater is a Sunbelt-focused multifamily developer and operator explicitly focused on the same growth states as Flournoy (NC, SC, GA, FL, TN, TX). Both pursue Class A garden-style and build-to-rent product targeting similar demographics.
- Wood Partners: Wood Partners is one of the largest multifamily developers in the U.S., developing Class A apartment communities concentrated in the Sunbelt and Southeast. Both compete head-to-head for land, capital partners, and renter demographics across overlapping metro footprints.
- Mill Creek Residential: Mill Creek Residential is a national multifamily developer and operator with strong Southeast/Sunbelt exposure, building Class A apartment communities in similar growth markets as Flournoy. Both pursue market-driven design and integrated development-and-management models serving similar renter demographics.
- RAM Partners: RAM Partners is a multifamily property management and development firm based in Atlanta with strong Southeast presence. Comparable third-party management focus and Class A resident experience emphasis to Flournoy Properties Group.
- Toll Brothers Apartment Living: Toll Brothers Apartment Living is the multifamily development arm of Toll Brothers, focused on Class A urban and suburban multifamily in similar Sunbelt/Mid-Atlantic markets. Comparable product positioning and resident demographics to Flournoy's Ellison communities.
- Lincoln Property Company: Lincoln Property Company is a large multifamily developer and third-party manager with deep Sunbelt/Southeast presence. They compete directly with Flournoy for institutional capital relationships, management mandates, and Class A renters in the same growth corridors.
- Cortland Partners: Cortland is a vertically integrated multifamily developer and operator with major Sunbelt presence. Both compete for institutional capital, residents in walkable mixed-use formats, and operate integrated development + management platforms.
Regional players
- Dominium: Dominium is a multifamily developer and operator specializing in affordable and mixed-income housing across the Southeast and South-central US. Adjacent peer given overlapping Sunbelt footprint and renter demographics, though focused on affordable rather than Class A.
Others
- JLL Capital Markets / Greystar equivalent: JLL (Jones Lang LaSalle) is a broad real estate services platform serving the same institutional capital partner ecosystem that funds Flournoy's developments. Relevant as an adjacent capital-markets intermediary rather than a direct operating competitor.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
The Flournoy Companies social profiles
Digital presenceThe Flournoy Companies financial estimates
Financial estimateRevenue estimate
Valuation estimate
The Flournoy Companies leadership team
Management profileNumber of profiles
The Flournoy Companies subsidiaries and ownership
Company hierarchySubsidiaries2 records
The Flournoy Companies funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
The Flournoy Companies 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 The Flournoy Companies
What does The Flournoy Companies do?
The Flournoy Companies develops and manages Class A residential communities in the U.S. Southeast and Sunbelt through two operating groups: Flournoy Development Group builds multifamily, build-to-rent, and active adult (55+) communities from concept to completion, while Flournoy Properties Group provides fully integrated boutique property management services for those premier communities. The company has developed 48,000+ units across 200+ communities since 1967.
Is The Flournoy Companies a public or private company?
The Flournoy Companies is a private company. It is classified as corporate owned and is currently operating.
When was The Flournoy Companies founded?
The Flournoy Companies was founded in 1967.
Where is The Flournoy Companies based?
The Flournoy Companies is headquartered in Columbus, United States, in the North America region.
How does The Flournoy Companies make money?
Two revenue lines are on record. Residential Rental Income is the primary driver. The others are property Management Services.
Who are The Flournoy Companies's main competitors?
Direct peers on record are Greystar Real Estate Partners, RangeWater Real Estate, Wood Partners, Mill Creek Residential, RAM Partners, Toll Brothers Apartment Living, Lincoln Property Company and Cortland Partners. Dominium is listed as a regional player. JLL Capital Markets / Greystar equivalent is listed as an others.
Does The Flournoy Companies have an API?
No public API is recorded for The Flournoy Companies.