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Top 10 Black Owned Real Estate Companies
Real estate is a highly lucrative industry that has historically been dominated by non-minority groups. However, there's no doubt that Black excellence is everywhere, and the real estate industry is no exception.
In recent years, there has been a surge in Black-owned real estate companies that are making a name for themselves in the industry. These companies are not only breaking barriers and paving the way for other minority groups to enter the industry, but they are also contributing to the growth and development of local communities.
In 2023, the market size of the Real Estate Sales Brokerage industry in the U.S. is reported to be at $222.3 billion. Every year, many Black real estate agents close huge sales and several Black-owned real estate companies make billions of dollars. Some of these firms were founded decades ago while some are relatively new to the market. Black professionals in the industry are also stepping up in this new age. More and more individuals are making an effort to secure a real estate license so that they can become a qualified real estate agent, Realtor or real estate broker.
From owning to managing to operating properties in different states in the U.S., here are 10 notable Black-owned real estate companies that are making great strides in the real estate industry.
Key Points
- In 2023 Q1, the market size of the Real Estate Sales Brokerage industry in the U.S. is reported to be at $222.3 billion
- 10 excellent Black-owned real estate companies include Capri Investment Group, CB Emmanuel Realty, Elite Realty Partners, Inc., Emmitt Smith Advisors, H.J. Russell & Company, Integrated Capital LLC, MacFarlane Partner, Omni New York, LLC, RLJ Lodging Trust, The Peebles Corporation
- Some reasons why you should consider working with Black-owned real estate companies include; they can help to promote diversity and inclusion in the real estate industry and also accelerate the growth and development of minority-owned businesses
Disclaimer
The contents of this article are for educational purposes only. They are not intended to be a source of professional financial advice. You will find experts on financial planning, financial management, and real estate here. More on disclaimers here.
10 Excellent Black Owned Real Estate Companies
These are favourites:
1. Capri Investment Group
Capri Investment Group is a leading real estate investment management firm that is headquartered in Chicago, Illinois. The company was founded in 1992 by Quintin E. Primo III, a seasoned real estate investor with over 30 years of experience in the industry.
Capri Investment Group specializes in acquiring, developing and managing commercial real estate properties across the United States. Capri Investment Group has a diverse portfolio of properties, including office buildings, retail centers, industrial properties and multifamily housing units. The company's focus is on acquiring properties that are located in high-growth markets and have strong cash flow potential.
The real estate group makes direct equity and structured finance investments in markets with property across the U.S. With $14+ billion completed real estate investment transactions, the firm is committed to the growth and development of urban commercial and residential communities. Aside from apartments which have a potential for high income, Capri also targets co-located retail property as well as office spaces.
In addition to its real estate investment activities, Capri Investment Group is also committed to making a positive impact on the communities in which it operates. The company has a number of initiatives in place to promote economic development, support local businesses, and create affordable housing opportunities.
2. CB Emmanuel Realty
CB Emmanuel Realty is a Black-owned real estate company based in Houston, Texas. CB Emmanuel Realty was established by Christopher Bramwell Jr. and Benathan Upshaw in 2005.
The company's mission is to create affordable and good quality housing and community assets that serve and uplift the residents. They are keen on creating positive community outcomes for the cities and the towns that they serve.
The company's diverse team is made up of professionals with expertise in real estate finance, construction management, architecture, urban planning, and property management consulting. Since inception, the firm has invested in 30 projects with a total value of roughly $500 million.
CBE is certified as a MBE by the City and State of New York.
3. Elite Realty Partners, Inc.
Elite Realty Partners, Inc. was established in 2018 by Tenisha Williams, a real estate broker, after leaving her career as a Miami county employee. The firm is currently the biggest Black female-owned real estate firm in the Ft. Lauderdale, Miami.
The firm primarily focuses on high-end residential real estate sales in Florida, distressed property management, short sales, BPO and REO services.
Named as one of Florida's top 100 realtors, Williams has managed to create a team of over 150 real estate agents who collectively, have closed over 130 million in sales in just 2 years.
What sets Elite Realty Partners, Inc. apart is the fact that they provide top notch services to each of their clients while taking them through the real estate process. They understand that the home buying process is a complicated one, and that is why they deliberately put passion over profit and pay great attention to their clients in order to help them find their dream home(s).
In February of 2022, Williams was named one of the "20 under 40" in real estate by the Miami Association of Realtors® Young Professionals Network.
4. Emmitt Smith Advisors
Emmitt Smith Advisors is a real estate development firm that was founded by NFL Hall of Fame running back, Emmitt Smith in 2005.
The firm is a leading provider of real estate solutions, and in partnership with Newmark Knight Frank (NKF), Emmitt Smith Advisors is part of a global network with operations in more than 400 offices worldwide. They bring to the table integrity, innovation and fresh insight to the commercial real estate industry.
As a Minority-owned business, the company places a lot of emphasis on DEI practices in line with the services that they offer their clients as well as in their hiring process. The company is very keen on establishing long lasting partnerships based on trust and consistent results with their clients.
Among the services offered by the company include property management, investment sales and capital markets, valuation and advisory, and lease management.
5. H.J. Russell & Company
H.J. Russell & Company is a construction and real estate development firm based in Atlanta, Georgia, USA. The company was founded in 1952 by Herman J. Russell, and is currently led by his son, Michael Russell. The company started off as a plastering company, but not too long after, Russell began developing and managing rental properties. The company grew and became successful as they continued to build and manage affordable housing for citizens in the South East.
In the 1960s when African-American leaders were fighting for civil rights, Russell was invited to the the all-white Metro Atlanta Chamber of Commerce (MACC), without the organization realizing that he was an African American. He accepted and became a member of the group. He later went on to become the 2nd Black president of MACC.
H.J. Russell & Company has been involved in many high-profile construction projects in the Atlanta area and beyond. Some of its notable projects include the construction of the Georgia Dome (former home of the NFL's Atlanta Falcons), the Atlanta Marriott Marquis hotel, and the Mercedes-Benz Stadium (current home of the Atlanta Falcons and Atlanta United FC).
The company continued to diversify and among the services that they offer today include; construction, real estate development, property management and program management.
The company has received numerous awards and recognitions for its work in the construction industry, including being named one of the "Top 400 Contractors" by Engineering News-Record magazine.
6. Integrated Capital LLC
Integrated Capital LLC is a private equity real estate firm with a focus on hospitality. The company was founded in 2004 by Kenneth H. Fearn, who is also the Managing Partner. The private advisory and investment firm is based in Los Angeles, California.
The firm mainly operates within the hospitality industry, and so far, it has acquired more than $500 million in hospitality assets in primary and secondary markets across the United States. Some of the brands that feature in their catalog include: Residence Inn, Courtyard, Marriott, Doubletree, Sheraton, Crowne Plaza and Holiday Inn.
The management team at Integrated Capital LLC have adequate experience within the hospitality and real estate management sectors. Among the company's areas of expertise include asset management, renovation/ development, financing, consulting and repositioning.
7. MacFarlane Partners
Established in 1987 by Victor B. MacFarlane, MacFarlane Partners has successfully built a great track record of providing real estate investment management services to institutional investors in multiple markets.
For over 30 years, the company has worked diligently to develop new real estate projects, stabilize real estate assets, rehabilitate and reposition existing properties and manage assets to higher value.
The company's focus is now set on real estate investments that promote sustainability in high-density suburban markets, smart growth and urban regeneration.
The firm currently has $2.2 billion in investor equity and $6 billion in managed properties. Its objective is to succeed at real estate investing while making a positive difference in the communities in which it invests.
It has its headquarters in San Francisco, California.
8. Omni New York, LLC
Omni New York LLC is a full service real estate development company that was founded in 2004 by Maurice "Mo" Vaughn, a former Major League Baseball first baseman and co-founder Eugene Schneur.
Their vision, when starting this real estate firm, was to create quality and affordable housing that was well managed, specifically to historically underserved communities.
The company is very keen on strengthening and improving the quality of life of involved communities. They do this not only by providing quality, affordable and environmentally friendly housing, but also through solidifying the bonds among people in the neighborhoods. The firm also provides vital social services including after-school programs for children, skills training seminars and adult education classes.
Since its inception in 2004, Omni has owned and managed 17,000 units of affordable housing in 11 different states across the U.S. These include almost a dozen buildings in New York in The Bronx and Brooklyn combined.
9. RLJ Lodging Trust
RLJ Lodging Trust is a self-advised, publicly traded real estate investment trust that was founded in 2000 by Robert L. Johnson, who is also the founder of BET.
The company's focus lies on owning premium full service hotels. So far, it has 95 hotels under its portfolio. These hotels are located in 22 states and the District of Columbia. The hotels in their portfolio are located in different geographical areas and are concentrated in major urban areas where the demand is high due to the presence of business, leisure and other travelers.
The hotels under RLJ Lodging Trust operate under recognized global brands like Courtyard by Marriott, Residence Inn by Marriott, Hilton Garden Inn, Homewood Suites by Hilton, Hyatt Place, Wyndham and Embassy Suites.
In May 2011, RLJ Lodging became a publicly traded company.
10. The Peebles Corporation
The Peebles Corporation is the most successful Black-owned real estate company in the U.S. It was founded in 1983 by Don Peebles, and has become an industry leader within the real estate space.
The company is a privately held national real estate investment and development company specializing in residential, hospitality, retail and mixed-use commercial properties. Its corporate offices are located in New York City, Miami, and Washington D.C.
The company boasts of a portfolio of active and completed developments which total to 10+ million square feet and $8 billion in the gateway cities of New York, Boston, Philadelphia, Washington D.C., Charlotte, Miami, San Francisco, and Los Angeles.
For over 35 years, the company has developed high profile assets guided by the principles of Affirmative Development™ to help empower women and minorities, create generational wealth and close the wealth gap.
If you're looking to invest in a collection of luxurious Black-owned vacation properties, here is a great opportunity for you.
Resthaven
Resthaven Properties is a collection of Black-owned luxury vacation properties. Resthaven Properties focuses on acquiring vacation property across the world's best travel destinations for predictable income and appreciation. So far, the luxury properties under the Resthaven Properties portfolio include Resthaven Los Angeles, Resthaven Tahoe, and Resthaven Zihuatanejo.
Resthaven Properties operate under membership options that disrupt traditional lodging and timeshare accommodations by implementing a pay once and use for a lifetime strategy. The team acquires properties in the 5-7M range based on the high potential for appreciation and a prime location for leisure travel and intentionally supports diverse vendors in each property.
For more information on the properties, contact us today.
Why You Should Consider working With a Black-owned Real Estate Company
As an investor or Black real estate agent or a real estate professional, working with a Black-owned real estate company can provide a number of benefits, including:
Supporting minority-owned businesses
By choosing to work with a Black-owned real estate company, you are supporting the growth and development of minority-owned businesses. This can help to promote economic empowerment and create more opportunities for diverse communities.
Understanding unique perspectives and experiences
Black-owned real estate companies may have unique perspectives and experiences that can provide valuable insights into the market. This can help to provide a more comprehensive and diverse approach to real estate services.
Building relationships with the local community
Black-owned real estate companies are often deeply rooted in their local communities and may have strong connections to local businesses and organizations. This can help to build stronger relationships and create more opportunities for community development.
Fostering diversity and inclusion
Working with a Black-owned real estate company can help to promote diversity and inclusion in the real estate industry. By supporting minority-owned businesses, you are helping to create a more diverse and inclusive marketplace.
Bay Street Capital Holdings
Bay Street Capital Holdings is an independent investment advisory, wealth management, and financial planning firm headquartered in Palo Alto, CA.
The firm manages portfolios with the goal of maintaining and increasing total assets and income with a high priority on managing total risk and volatility. Although many advisors may focus on maximizing returns, they place a higher priority on managing total risk and volatility.
Bay Street was founded by William Huston founded Bay Street after 13 years of supporting the United States' largest retirement plan ($650B) Thrift Savings Plan. He is recognized as Investopedia’s Top 100 Financial Advisors for 2021.
In Scottsdale Arizona, Ekenna Anya-Gafu CFP, AAMS is recognized among the Best Financial Advisors for his responsiveness, friendliness, helpfulness, and detail. Bay Street was founded to advocate for diverse and emerging fund managers and entrepreneurs.
Sources
https://www.housedigest.com/760365/black-owned-real-estate-companies-you-need-to-know-about/
https://www.blackbusiness.com/2015/11/top-black-owned-real-estate-companies-making-billions.html
https://shoppeblack.us/2021/01/black-real-estate-firms-60m/
https://www.nationalstandardabs.com/our-vision
https://www.rljlodgingtrust.com/
https://www.hjrussell.com/history/
