What Norhaven Partners does

Norhaven Partners, LLC is a privately held multifamily real estate developer headquartered in Marietta, Georgia, operating across the Southeastern United States. The firm develops ground-up apartment communities and Built-to-Rent (BTR) townhome communities for capital partners and investors, with an active portfolio spanning four projects totaling 579 units and approximately $163.5M in capitalized costs — Midland Gainesville (214 units, $57.1M), The Massell (210 units, $51.1M), Kendall At Gilreath (97-unit BTR, $28.2M), and Dogwood Drive (58-unit BTR). Founding Principal William Norris leads the firm and brings prior experience as an architect at Niles Bolton Associates and as an Owner's Representative at Marx|Okubo, with a personal track record of more than 1,750 multifamily units developed across Florida, Georgia, North Carolina, and Tennessee.

The company's business model is project-based real estate development: Norhaven sources land, collaborates with outside architects and designers, engages top-tier construction and management teams, and structures projects for capital partners who provide equity and debt financing. Revenue derives from developer fees, capital appreciation, and investor returns realized upon project completion and stabilization rather than from direct resident rents. The firm sells or delivers completed assets to its investor partners and does not retain operating real estate as a long-term landlord at scale. Gordon Smith serves as Development Director with responsibility for capital partner relationships, municipal approvals, and new project sourcing. The firm previously operated as McNeal Development and now sits within Macallan Group, whose executive team (Managing Partner James L. Rhoden III, CFO John Clotfelter, VP Investments James Baker, and others) provides shared back-office, investment, and finance functions. The GTM motion is sales-led, relationship-based, and reliant on direct outreach to capital partners and institutional investors alongside a portfolio-focused company website.

There is no disclosed technology platform, AI/ML capability, software product, or recurring SaaS revenue component — the offering is entirely physical real estate. Geographic operations remain regional (Southeast US), the customer base is concentrated in unnamed capital partners, and pricing is project-by-project rather than unit-priced.

Name

Norhaven Partners

Legal name

Norhaven Partners, LLC

Website

https://norhavenpartners.com

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

1–10 employees

Short description

Norhaven Partners is a privately held, Marietta-based multifamily real estate developer that builds apartment and Built-to-Rent townhome communities across the Southeastern US for capital partners and investors, with an active four-project, 579-unit pipeline.

Ownership category

akta.pro rank

Product category

Multifamily Real Estate Development

NAICS

New Multifamily Housing Construction (except For-Sale Builders) (236116)

SIC

Operators Of Apartment Buildings (6513)

akta.pro primary industry

Multi-Family Residential Construction (Apartments, Condos, Townhomes) (IMAFABAB)

akta.pro secondary industries

Build-to-Rent (BTR) Community Management (BPAJAFAC), Residential Design-Build & Renovation-Integrated Builders (IMAFABAE)

Keywords

• Multifamily real estate development
• Built-to-rent townhomes
• Apartment community development
• Real estate investment partnerships
• Southeastern US development

Headquarters

HQ city

Marietta

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Real Estate Development: Norhaven Partners generates revenue through developing multifamily apartment communities and townhome built-to-rent communities. Revenue is derived from capital appreciation and investor returns upon project completion and stabilization.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

Norhaven Partners develops multifamily apartment communities and Built-to-Rent (BTR) townhome communities in the Southeastern United States. The company collaborates with external architects and designers on project planning and employs top-tier construction and management teams to execute developments. Active projects span apartment communities (Studio to 3BR units) and BTR townhome communities (3-4 BR units), funded through capital partner relationships.

Product overview

Norhaven Partners is a multifamily real estate development company that develops apartment communities and Built-to-Rent (BTR) townhome communities in the Southeastern United States. The company offers two distinct product lines: multifamily apartment communities (Midland Gainesville and The Massell) featuring studio to 3-bedroom units with amenity packages including clubhouses, coworking spaces, and pools; and BTR townhome communities (Kendall At Gilreath and Dogwood Drive) offering 3-4 bedroom townhomes as built-to-rent products. Prior to founding Norhaven Partners, Principal William Norris completed additional multifamily projects including The Griff, One305 Central, Leigh House, and BluWater Apartments.

Differentiator

Problem solved

Functional benefit

Products and services

• Midland Gainesville 214-unit multifamily apartment community offering Studio, 1 BR, and 2 BR unit types with total capitalized costs of $57.1M. Located near downtown Gainesville, GA square on the Midtown Greenway Park. Currently in active development.
• The Massell 210-unit multifamily apartment community with 1 BR, 2 BR, and 3 BR unit types and total capitalized costs of $51.1M. Located on Joe Frank Harris Parkway in Cartersville, GA, featuring six residential buildings and a clubhouse with full amenity package. Currently in active development.
• Kendall At Gilreath 97-unit Built-to-Rent (BTR) townhome community with total capitalized costs of $28.2M. Located on 19 acres minutes north of downtown Cartersville, GA near Piedmont Cartersville Hospital and Cartersville Country Club. Currently in active development.
• Dogwood Drive 58-unit Built-to-Rent (BTR) townhome community with a mix of 3- and 4-bedroom townhomes. Located on 3 acres within walking distance of downtown Hapeville, GA. Construction-launching project.

Quantifiable outcome

• Development of more than 1,750 multifamily units across multiple states
• +1 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered core and minor.

• Top-tier Construction Teams (unspecified)coreStrategic or Co-development PartnerNorhaven Partners employs top-tier construction and management teams in the market to execute their development business plan. Specific construction firm names not disclosed.
• Highly Qualified Architects and Designers (unspecified)coreStrategic or Co-development PartnerThe company collaborates with highly qualified architects and designers to create well-planned multifamily developments. Specific firm names not disclosed.
• Municipal Stakeholders (unspecified)minorStrategic or Co-development PartnerGordon Smith manages relationships with municipal stakeholders for development approvals and community integration. Specific municipal entities not disclosed.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Greystar Real Estate Partners: Largest U.S. multifamily owner/operator/developer with significant Sun Belt exposure. Comparable as the dominant incumbent in the same geographic and product space, though at vastly greater scale across development, leasing, and management.
• AMLI Residential: National multifamily developer and operator with a meaningful Southeastern U.S. portfolio. Comparable product and capital-partner-driven development model, but operates at broader scale and across multiple regions.

Direct peers

• RangeWater Real Estate: Atlanta-based multifamily and Build-to-Rent developer with a significant Sun Belt portfolio. Closely matches Norhaven in combining traditional garden-style apartments with BTR product within the same operating geography.
• Alliance Residential: Large national multifamily developer with extensive Sun Belt portfolio including Atlanta and Charlotte. Comparable by scale of development, product type, and reliance on institutional capital partners.
• Wood Partners: National multifamily developer with deep Southeastern U.S. presence, including Atlanta, Charlotte, and other core Sun Belt submarkets where Norhaven operates. Directly comparable by product type (garden-style apartments), business model (developer with capital partners), and target geography.
• JLB Partners: Multifamily developer headquartered in the Southeast delivering garden-style and mid-rise apartment communities across Sun Belt states. Highly comparable to Norhaven in unit mix, target renter, and capital partner-driven development model.
• Middleburg Communities: Atlanta-based Build-to-Rent developer focused on single-family and townhome rental communities across the Southeast. Directly comparable to Norhaven's Kendall At Gilreath and Dogwood Drive BTR product line and overlapping target geography.
• Crescent Communities: Charlotte-based developer of multifamily and mixed-use communities across the Southeastern U.S. Comparable by product (apartment communities), capital partner model, and Southeastern geographic focus.

Emerging players

• Hawthorne Residential Partners: Southeast-focused multifamily developer and operator with a portfolio of garden-style apartment communities. Comparable by Southeastern geographic focus and renter demographic, though typically operates at slightly larger scale than Norhaven.

Others

• Berkshire Residential Investments: Multifamily investment manager that partners with developers in the Sun Belt. Comparable as an active capital partner and co-investor in the same asset class and region where Norhaven sources its equity capital.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/mcneal-development

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 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 Norhaven Partners