- Companies
- HRI Properties
HRI Properties Funding, Investors & Competitors
HRI Properties has raised $200M across 2 funding rounds, most recently a $50M undisclosed-stage round in March 2016.
Last HRI Properties funding round
$50M
Undisclosed stage · Mar 2016
Cumulative funding HRI Properties raised
$200M
across 2 funding rounds
Key investors in HRI Properties
Almanac Realty Investors
About HRI Properties
HRI Properties is a New Orleans-headquartered real estate firm specializing in urban redevelopment, property management, and tax credit compliance for multifamily housing, hotels, and mixed-use assets. The company manages over 10,000 apartment units and branded hotels like Hilton and Marriott properties in cities including Memphis, Kansas City, and Chattanooga. Services encompass leasing, maintenance, resident programs, and full-cycle development from acquisition to operations.
Founded
1982
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Services
HRI Properties Funding History
HRI Properties has raised a total of $200M across 2 funding rounds.
HRI Properties' first fundraising round was a $150M undisclosed-stage round in October 2014. The most recent completed round was a $50M undisclosed-stage round in March 2016.
HRI Properties funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Mar 2016 | Undisclosed stage | Almanac Realty Investors | $50M | HRI Properties is a New Orleans-based diversified real estate company specializing in the development, acquisition, ownership, and management of premium branded and independent hotels, upscale apartments, and mixed-use properties in major urban U.S. markets, with a focus on urban in-fill projects and adaptive reuse of historic buildings leveraging tax credits. The company has completed over 82 large-scale projects across 12 states totaling more than $2 billion in project costs and operates a portfolio including over 3,000 hotel rooms, 1,500 apartment units, and 165,000 square feet of commercial space, plus third-party management services. Almanac Realty Investors provided initial growth capital of up to $150 million to HRI in October 2014 to support mixed-use developments, acquisitions, national expansion, and joint ventures, which HRI successfully deployed into sixteen properties across eight states. This was followed by an additional investment commitment, referenced as $50 million in March 2016 after full deployment of the prior capital, and noted in Almanac's portfolio as part of 2014 and 2016 commitments totaling around $200 million for hospitality, multifamily, and commercial assets in the South. A later round came from StepStone Real Estate Partners with up to $87.5 million to fund further portfolio expansion into dynamic urban markets. HRI's hospitality affiliate, HRI Lodging, focuses on hotel acquisitions, developments, and repositioning nationwide, while projects often target historic buildings with federal and state incentives like Historic and New Markets Tax Credits. At the time of the Almanac investments, HRI had five projects under construction in Louisiana, Virginia, and Texas with $285 million in total development costs for 702 apartment units and 359 hotel rooms. |
| Oct 2014 | Undisclosed stage | Almanac Realty Investors | $150M | HRI Properties, LLC, a New Orleans-based real estate developer, secured a commitment of up to $150 million in growth capital from Almanac Realty Investors on October 23, 2014. The funding supports HRI's focus on mixed-use and revitalization projects, acquisitions, national growth, and joint ventures with institutional partners and property owners. HRI specializes in historic buildings using federal and state incentives like Historic and New Markets Tax Credits, with its hospitality affiliate, HRI Lodging, pursuing hotel acquisitions, developments, and repositioning nationwide. At the time, the investment spurred significant growth, with HRI having five projects under construction in Louisiana, Virginia, and Texas totaling $285 million in development costs for 702 apartment units and 359 hotel rooms. Almanac later committed an additional $50 million to HRI, as noted in 2016 reports, building on the initial 2014 investment. Almanac Realty Investors, a provider of growth capital to real estate companies, has made similar commitments to numerous firms, with its funds deploying billions across dozens of investments. |
Who has invested in HRI Properties?
1 investor has backed HRI Properties across its funding rounds, including Almanac Realty Investors.
HRI Properties Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialHRI Properties Competitors
HRI Properties competitors include listed companies like FirstService, Carmila and Shoucheng Holdings, and private ones like Shanghai Taomao, SILA Group and Zeus Living.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $5.5B | $525M | $5.8B | 1.4x | ||
| Publicly listed | $626M | $327M | $2.4B | 10.8x | ||
| Publicly listed | $183M | $79M | $1.4B | 5.8x | ||
| Private | - | - | $1.3B | - | ||
| Private | $190M | - | $250M | 1.3x | ||
| Private | $100M | - | $205M | - |
HRI Properties Public Comps
HRI Properties is still privately-owned, but its public comps include CBRE, Sumitomo Realty & Development, KE Holdings, Swire Properties, Vonovia, JLL, Swiss Prime Site, CoStar Group, Plaza and PSP Swiss Property.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $41B | $2.5B | 1.2x | 1.1x | 19.8x | 13.6x | |||
| $6.8B | $2.6B | 6.5x | 6.6x | 17.0x | 18.0x | |||
| $14B | $734M | 0.9x | 1.0x | 17.7x | 10.6x | |||
| $2B | $152M | 11.2x | 9.9x | 150.4x | 19.1x | |||
| $6.1B | $4.4B | 11.3x | 17.4x | 15.7x | 21.6x | |||
| $26B | $1.3B | 0.7x | 0.7x | 13.7x | 11.1x | |||
| $672M | $499M | 29.4x | 32.2x | 39.6x | 32.8x | |||
| $3.2B | $183M | 3.6x | 3.3x | 64.6x | 16.8x | |||
This data is available for Pro users. Sign up to see all HRI Properties competitors and their valuation data. Start Free Trial | ||||||||
Common questions about HRI Properties
| When was HRI Properties founded? | HRI Properties was founded in 1982. |
| Where is HRI Properties headquartered? | HRI Properties is headquartered in New Orleans, LA, United States. |
| Is HRI Properties publicly listed? | No, HRI Properties is a private, VC-backed company. |
| How much funding has HRI Properties raised? | HRI Properties has raised $200M across 2 funding rounds. |
| What was HRI Properties' last funding round? | HRI Properties' last funding round was a $50M undisclosed-stage round in March 2016. |
| Who are HRI Properties' investors? | HRI Properties' investors include Almanac Realty Investors. |
| Which companies are comparable to HRI Properties? | Companies comparable to HRI Properties include FirstService, Carmila, Shoucheng Holdings, Shanghai Taomao, SILA Group and Zeus Living. |
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