The real estate development industry in the US is a dynamic sector that involves the planning, financing, and construction of residential, commercial, and industrial properties. Companies range from large private equity firms and venture capitalists to corporate investors, all striving to meet growing demand for housing and commercial spaces. Innovations in sustainable building practices and technology-driven solutions are changing the way projects are approached. As urbanization continues to rise, the industry is shifting toward mixed-use developments and smart city concepts, creating lasting opportunities for growth and collaboration amidst evolving market needs.


This list features 18 notable investors in the US real estate development sector. They vary from large private equity firms like Blackstone and Apollo Global Management to venture capital entities such as Plug and Play Tech Center and FJ Labs, all headquartered in major cities like New York, San Francisco, and Chicago. Founded between 1812 and 2016, these investors represent a range of sizes, with involvement in 5 to over 2,800 deals in 2024. Each one plays an important role in shaping the future of real estate development in the country.


Top 18 Real Estate Development Investors in the US


1. Blackstone

  • Website: blackstone.com
  • Type: Private Equity
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 1985
  • Headcount: 1001-5000
  • Number of deals in 2024: 57
  • LinkedIn: blackstonegroup

Blackstone Inc. is a leading investment management firm based in New York, specializing in alternative investments, including private equity, real estate, and credit solutions. Founded in 1985, Blackstone has built a reputation for delivering lasting value through its extensive portfolio and strategic investment approaches. The firm has been actively involved in the real estate sector, with notable transactions such as the acquisition of an office building in Powai, Mumbai from L&T Realty for approximately $102 million, and the $1.7 billion acquisition of British real estate firm St. Modwen, which has a substantial pipeline of logistics projects. Additionally, Blackstone's acquisition of American Campus Communities for $12.8 billion highlights its commitment to real estate development, particularly in the student housing sector. These transactions, among others, underscore Blackstone's active role in the real estate development industry.


2. IFC - International Finance Corporation

  • Website: ifc.org
  • Type: Venture Capital
  • Headquarters: Washington, D.C., District Of Columbia, United States (USA)
  • Founded year: 1956
  • Headcount: 1001-5000
  • Number of deals in 2024: 107
  • LinkedIn: ifclinkedin

The International Finance Corporation (IFC) is a not-for-profit organization established in 1956, focused on private sector development in emerging markets. Based in Washington, D.C., IFC provides investment, advisory, and asset management services to businesses and financial institutions, helping them access capital and expertise to foster economic growth. In 2024, IFC was involved in several significant transactions in the real estate sector, including a $351 million post-IPO debt investment in Ayala Land, a $53 million post-IPO debt investment in Balwin Properties, and a $155 million post-IPO debt investment in Orascom Development Egypt. Additionally, IFC participated in equity and debt financing for Vinte, a company focused on residential development. These transactions highlight IFC's active role in supporting real estate development projects, particularly in emerging markets, thereby promoting sustainable urban development and addressing housing needs.


3. Kkr

  • Website: kkr.com
  • Type: Private Equity
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 1976
  • Headcount: 1001-5000
  • Number of deals in 2024: 74
  • LinkedIn: kkr

KKR & Co. Inc. is a prominent investment firm based in New York, specializing in private equity, credit, infrastructure, and real estate. Founded in 1976, KKR has established itself as a global leader in asset management, providing tailored solutions to institutional investors and individual clients. In the real estate sector, KKR has been involved in significant transactions, such as providing debt financing to Omkar Realtors & Developers for the construction of residential projects in Mumbai, which underscores their commitment to supporting real estate development. They have also engaged with Lodha Group to raise funds for project completion and acquired a minority stake in Vinhomes Joint Stock Company, further highlighting their strategic investments in the real estate market. KKR's diverse portfolio and expertise enable them to navigate complex investment landscapes effectively, making them a key player in the real estate development industry.


4. Second Century Ventures

  • Website: scv.vc
  • Type: Venture Capital
  • Headquarters: Chicago, Illinois, United States (USA)
  • Founded year: 2009
  • Headcount: 11-50
  • Number of deals in 2024: 8
  • LinkedIn: second-century-ventures

Second Century Ventures is a venture capital firm based in Chicago, Illinois, founded in 2009. The firm specializes in fueling innovation within the real estate technology sector, investing in early to mid-stage technology firms. They operate a growth accelerator program called REACH, which aids startups in scaling their operations. Notable transactions include investments in Knock, which raised $70 million in 2022 and additional undisclosed amounts in 2021, indicating a strong focus on enhancing real estate services. They also invested in Energy-Producing Retail Realty, which aligns with sustainable real estate development. Their recent investment in Downpayments, which raised $1 million in 2024, further demonstrates their commitment to supporting innovative solutions in the real estate market.


5. FJ Labs

  • Website: fjlabs.com
  • Type: Venture Capital
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 2015
  • Headcount: 11-50
  • Number of deals in 2024: 169
  • LinkedIn: fj-labs

FJ Labs is a venture capital firm based in New York, founded in 2015, that specializes in investing in marketplace and network effect businesses. They support entrepreneurs by providing capital and strategic guidance across various industries, including e-commerce and logistics. With over 1,000 companies in their extensive portfolio, many of which have achieved unicorn status, FJ Labs has demonstrated a strong track record in venture capital. Notably, they have invested in several companies relevant to real estate development, such as Assembly OSM, which raised $38 million in Series A funding for modular construction, and CityBldr, a Seattle development technology company that raised $4.3 million in Seed funding. These investments highlight FJ Labs' engagement with innovative solutions in the real estate sector, making them a noteworthy player in the industry.


6. Goldman Sachs

  • Website: goldmansachs.com
  • Type: Private Equity
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 1998
  • Headcount: 10001+
  • Number of deals in 2024: 59
  • LinkedIn: goldman-sachs

Goldman Sachs is a prominent investment bank and financial services firm based in New York, founded in 1998. It offers a wide range of services, including investment banking, asset management, and wealth management, catering to a diverse clientele that includes corporations, financial institutions, and individuals. In the realm of real estate development, Goldman Sachs has been actively involved in several significant transactions. For instance, they provided $2.85 billion in debt financing to Tishman Speyer, a major player in real estate development. Additionally, they invested $150 million in Piramal Realty during a private equity round, and they supported Cybercity Builders & Developers with $2.84 million in Series A funding. Goldman Sachs also facilitated $230 million in debt financing for Al Hamra Real Estate Development and invested $85 million in Vatika Group for its real estate and hotel arms, specifically for construction and refinancing purposes. These transactions highlight Goldman Sachs' commitment to the real estate sector and its role as a key investor in real estate development projects.


7. Citi

  • Website: citigroup.com
  • Type: Venture Capital
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 1812
  • Headcount: 10001+
  • Number of deals in 2024: 107
  • LinkedIn: citi

Citigroup Inc. is a financial services company based in New York, providing a wide range of banking and investment services to individuals and businesses. Founded in 1812, Citi has a significant presence in commercial banking, investment banking, and wealth management. In recent years, Citi has been involved in several transactions that highlight its interest in real estate development. For instance, in 2021, Citi participated in a $207 million Series B funding round for ICON, a company that specializes in advanced construction technologies, which is pivotal for modern real estate development. Additionally, Citi was part of a Series A funding round for ICON in 2020, further emphasizing its commitment to innovative real estate solutions. Furthermore, Citi has provided grants to organizations like The Community Builders and the Northern California Land Trust, which focus on community development and affordable housing initiatives, underscoring its role in supporting real estate development projects that benefit communities.


8. Apollo Global Management, Inc.

  • Website: apollo.com
  • Type: Private Equity
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 1990
  • Headcount: 1001-5000
  • Number of deals in 2024: 46
  • LinkedIn: apollo-global-management-inc

Apollo Global Management, Inc. is an asset management firm specializing in alternative assets and retirement solutions. Founded in 1990 and based in New York, the firm manages a diverse portfolio across credit, private equity, and real assets, catering to institutional investors, corporations, and individual clients. In the real estate development context, Apollo has been actively involved in several significant transactions. For instance, it acquired The New Home Company for approximately $338 million, enhancing its presence in the residential housing market. Additionally, Apollo Funds acquired Miller Homes for £655 million, aiming to leverage its expertise to scale operations and enhance growth strategies. The firm also participated in funding rounds for Aldar Properties and Jain Housing & Constructions, further solidifying its role in the real estate sector.


9. Plug and Play Tech Center


Plug and Play Tech Center is an innovation hub and venture capital firm based in Sunnyvale, California, founded in 2006. They connect startups with corporations to foster growth and innovation, primarily targeting businesses in the technology sector. Their model includes accelerator initiatives and investment opportunities, facilitating partnerships and providing resources for business development. Among their notable transactions, they have invested in Kambio, a proptech company that raised $1 million to lead technological innovation in the construction industry, and aMORA, a real estate startup that received approximately R$16 million to enhance property evaluation tools and acquire real estate. These investments highlight their engagement in the real estate development space, despite their broader focus on technology.


10. Morgan Stanley

  • Website: morganstanley.com
  • Type: Venture Capital
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 1986
  • Headcount: 10001+
  • Number of deals in 2024: 79
  • LinkedIn: morgan-stanley

Morgan Stanley is a prominent investment bank and financial services firm founded in 1986, headquartered in New York, New York. With a workforce exceeding 10,000 employees, the firm provides a wide array of services, including wealth management, investment banking, and capital markets. Morgan Stanley has a global reach, offering tailored financial solutions to individuals, families, corporations, and governments. In the realm of real estate development, Morgan Stanley has made significant investments, including a $113.6 million post-IPO equity investment in Indiabulls Real Estate in April 2022 and a $111.1 million investment in DB Realty in March 2024. They also participated in a $55 million Series B funding round for Factory_OS, a company focused on innovative multifamily housing construction. Furthermore, they contributed to a $250 million private equity round for BRIDGE Housing in July 2022, highlighting their commitment to supporting affordable housing initiatives. These transactions underscore Morgan Stanley's active role in the real estate development sector.


11. Advantage Capital


Advantage Capital is an investment firm based in New Orleans, Louisiana, specializing in providing equity and debt financing to small businesses, agribusiness, solar projects, and affordable housing. Founded in 1992, the firm focuses on supporting entrepreneurs and businesses in underserved communities, offering flexible capital solutions to help them grow and thrive. Advantage Capital has been involved in several relevant transactions in the real estate development sector, including debt financing for HRI Properties and Gulf Coast Housing Partnership, both of which are engaged in affordable housing projects. Additionally, they participated in venture rounds for Wisconsin Housing Preservation Corp. and Adams Grove, further demonstrating their commitment to supporting real estate initiatives that enhance community welfare.


12. MRI Software

  • Website: mrisoftware.com
  • Type: Corporate
  • Headquarters: Solon, Ohio, United States (USA)
  • Founded year: 1971
  • Headcount: 1001-5000
  • Number of deals in 2024: 4
  • LinkedIn: mri-software-llc

MRI Software is a corporate investor based in Solon, Ohio, specializing in software solutions for real estate and investment management. Founded in 1971, the company has grown to serve various sectors, including residential and commercial real estate, with a focus on providing innovative technology solutions. Notable transactions include the acquisition of TCAM Asset Management in 2018, which enhanced its affordable housing solutions and investment management expertise. In 2017, MRI Software acquired eCondoSystems, a provider of cloud-based software for the condominium development and sales sector, further strengthening its offerings in the multifamily market. Other acquisitions, such as Engage Property Technology and eSight Energy, demonstrate MRI's commitment to improving facilities and real estate management capabilities, particularly in energy efficiency. These strategic moves position MRI Software as a key player in the real estate development ecosystem, providing essential tools and services to property owners and developers.


13. Fifth Wall

  • Website: fifthwall.com
  • Type: Corporate
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 2016
  • Headcount: 51-200
  • Number of deals in 2024: 15
  • LinkedIn: fifth-wall-ventures

Fifth Wall is a venture capital firm founded in 2016, based in New York, specializing in technology investments for the real estate industry. The firm focuses on funding innovative technology companies that tackle critical issues such as climate change and infrastructure challenges. Fifth Wall's clients include major corporations seeking strategic insights and access to cutting-edge solutions to enhance their operations. Notable transactions include a $38 million Series A funding for Assembly OSM, a modular construction startup, and a $400 million Series D funding for Veev, a technology-enabled homebuilding company. Additionally, they participated in funding rounds for Pacaso and Clikalia, both of which are involved in real estate transactions and development. These investments highlight Fifth Wall's commitment to advancing technology in the real estate sector, making them a significant player in real estate development.


14. Tpg

  • Website: tpg.com
  • Type: Private Equity
  • Headquarters: San Francisco, California, United States (USA)
  • Founded year: 1992
  • Headcount: 1001-5000
  • Number of deals in 2024: 27
  • LinkedIn: tpg-capital

TPG Inc. is a leading global alternative asset manager specializing in private equity and investment management, founded in 1992 and based in San Francisco, California. The firm manages $229 billion in assets across various sectors, including technology, healthcare, and consumer markets. TPG serves institutional investors by providing diversified investment opportunities and strategic insights to enhance their portfolios. In the real estate sector, TPG Real Estate has made significant acquisitions, such as TriGranit, a prominent developer and manager of retail and office assets in Central Europe, and Quintain Developments Ireland, showcasing their active role in real estate development. Additionally, TPG acquired the Millennium Corporate Park, a six-building office complex in Redmond, for $153.5 million, further emphasizing their investment strategy in real estate development and management.


15. Wells Fargo

  • Website: wellsfargo.com
  • Type: Corporate
  • Headquarters: San Francisco, California, United States (USA)
  • Founded year: 1852
  • Headcount: 10001+
  • Number of deals in 2024: 42
  • LinkedIn: wellsfargo

Wells Fargo & Company is a financial services company based in San Francisco, California, founded in 1852. It offers a wide range of banking products, including loans and investment management services, catering to both individual consumers and businesses. In the context of real estate development, Wells Fargo has been involved in several notable transactions. They managed an $850 million capital raise for Dreamscape Companies, which is focused on real estate development and investment, specifically for financing a multi-phase renovation of the Rio Hotel & Casino in Las Vegas. Additionally, they participated in significant debt financing for Tishman Speyer, raising $2.85 billion and $3.5 billion in separate transactions. These activities highlight Wells Fargo's active role in supporting real estate development projects through financial services.


16. Värde Partners

  • Website: varde.com
  • Type: Private Equity
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 1993
  • Headcount: 201-500
  • Number of deals in 2024: 6
  • LinkedIn: varde-partners

Värde Partners is an investment management firm based in New York, specializing in alternative investments, particularly in credit-related assets and distressed securities. Founded in 1993, the firm serves a global investor base, including institutional investors, by providing expertise in navigating complex investment opportunities. Värde operates across various sectors, including Corporate & Traded Credit, Real Estate, and Financial Services. In the real estate sector, Värde has been involved in several notable transactions, such as providing Rs 440 crore to Omaxe to expedite construction and project delivery, showcasing their role in real estate development financing. They also acquired the Grade A office building Lodha Excelus, further emphasizing their investment in real estate assets. Additionally, Värde's acquisition of a 20% stake in Borio Mangiarotti S.p.A., a Milan-based construction and real estate development company, highlights their strategic involvement in significant development projects, including the SEIMILANO regeneration project with an investment of over €250 million. These transactions illustrate Värde Partners' active participation in the real estate development industry.


17. Goodwater Capital

  • Website: goodwatercap.com
  • Type: Venture Capital
  • Headquarters: Burlingame, California, United States (USA)
  • Founded year: 2014
  • Headcount: 51-200
  • Number of deals in 2024: 41
  • LinkedIn: goodwater-capital

Goodwater Capital is a venture capital firm based in Burlingame, California, founded in 2014. The firm specializes in consumer technology and supports seed-stage entrepreneurs by providing investment, resources, and a community to help them grow. Goodwater focuses on various sectors, including healthcare and financial services, with a mission to improve access to technology solutions for underserved communities. In the realm of real estate, Goodwater has made notable investments in companies like Homebase, a Vietnam-based real estate technology platform that raised $30 million to expand its market leadership in Southeast Asia’s Proptech industry. Additionally, they invested in AMORA, a real estate startup that aims to enhance property evaluation tools and customer risk profiles, indicating their engagement in the real estate development space.


18. KeyBank

  • Website: key.com
  • Type: Corporate
  • Headquarters: Cleveland, Ohio, United States (USA)
  • Founded year: 1849
  • Headcount: 10001+
  • Number of deals in 2024: 33
  • LinkedIn: keybank

KeyBank is a financial services company based in Cleveland, Ohio, founded in 1849. It offers a comprehensive range of banking products, including checking and savings accounts, loans, and investment services tailored for both consumers and businesses. In the context of real estate development, KeyBank has been involved in several notable transactions, including providing $1.15 billion in post-IPO debt for American Healthcare REIT and $200 million for NHI - National Health Investors. Additionally, it facilitated $325 million in debt financing for ShopOne Centers REIT. These transactions highlight KeyBank's active role in supporting real estate development through financial solutions.



Real Estate Development Insights: Key Investors in the US


InvestorHeadquarterSizeFoundedDeals 2024
BlackstoneNew York, New York, United States (USA)1001-5000198557
IFC - International Finance CorporationWashington, D.C., District Of Columbia, United States (USA)1001-50001956107
KkrNew York, New York, United States (USA)1001-5000197674
Second Century VenturesChicago, Illinois, United States (USA)11-5020098
FJ LabsNew York, New York, United States (USA)11-502015169
Goldman SachsNew York, New York, United States (USA)10001+199859
CitiNew York, New York, United States (USA)10001+1812107
Apollo Global Management, Inc.New York, New York, United States (USA)1001-5000199046
Plug and Play Tech CenterSunnyvale, California, United States (USA)501-10002006253
Morgan StanleyNew York, New York, United States (USA)10001+198679
Advantage CapitalNew Orleans, Louisiana, United States (USA)51-20019925
MRI SoftwareSolon, Ohio, United States (USA)1001-500019714
Fifth WallNew York, New York, United States (USA)51-200201615
TpgSan Francisco, California, United States (USA)1001-5000199227
Wells FargoSan Francisco, California, United States (USA)10001+185242
Värde PartnersNew York, New York, United States (USA)201-50019936
Goodwater CapitalBurlingame, California, United States (USA)51-200201441
KeyBankCleveland, Ohio, United States (USA)10001+184933


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