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

HRI Properties Overview

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

United StatesNew Orleans, LA

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

HRI Properties funding rounds
DateStageInvestorsRaisedDeal Summary
Mar 2016Undisclosed stageAlmanac Realty Investors$50MHRI 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 2014Undisclosed stageAlmanac Realty Investors$150MHRI 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

Investors in HRI Properties by funding rounds participated
InvestorHQRoundsRoleFirst check

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HRI 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.

Public and private companies comparable to HRI Properties
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
FirstServiceCanadaCanadaPublicly listed$5.5B$525M$5.8B1.4x
CarmilaFranceFrancePublicly listed$626M$327M$2.4B10.8x
Shoucheng HoldingsChinaChinaPublicly listed$183M$79M$1.4B5.8x
Shanghai TaomaoChinaChinaPrivate--$1.3B-
SILA GroupIndiaMumbaiPrivate$190M-$250M1.3x
Zeus LivingUnited StatesSan Francisco, CAPrivate$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 FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
CBRE$41B$2.5B1.2x1.1x19.8x13.6x
Sumitomo Realty & Development$6.8B$2.6B6.5x6.6x17.0x18.0x
KE Holdings$14B$734M0.9x1.0x17.7x10.6x
Swire Properties$2B$152M11.2x9.9x150.4x19.1x
Vonovia$6.1B$4.4B11.3x17.4x15.7x21.6x
JLL$26B$1.3B0.7x0.7x13.7x11.1x
Swiss Prime Site$672M$499M29.4x32.2x39.6x32.8x
CoStar Group$3.2B$183M3.6x3.3x64.6x16.8x

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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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