Coastal Ridge Real Estate Company Profile

Background

Founded in 2013, Coastal Ridge Real Estate is a vertically integrated real estate investment, development, and property management firm headquartered in Columbus, Ohio. The company specializes in rented residential strategies across the United States, encompassing multifamily units, student housing, and build-to-rent communities. With a mission to create value through hands-on management and a vision to redefine residential living, Coastal Ridge has established a significant presence in the real estate industry. As of 2024, the firm manages over $5.1 billion in assets, reflecting its substantial growth and industry impact.

Key Strategic Focus

Coastal Ridge operates through three primary divisions: investment management, property management, and development. The investment management division focuses on identifying and acquiring undervalued properties, aiming to create value through strategic enhancements. The property management division oversees a diverse portfolio, ensuring operational excellence and resident satisfaction. The development division, initiated in 2021, concentrates on build-to-rent communities, addressing the growing demand for rental homes that offer the benefits of single-family living. The firm's strategic objectives include expanding its portfolio through acquisitions and developments, particularly in the Southeast and Midwest regions, and enhancing service offerings to clients.

Financials and Funding

Coastal Ridge has demonstrated robust financial growth since its inception. In 2021, the firm surpassed $3 billion in assets under management. By 2024, this figure increased to over $5.1 billion. In 2023, the company announced plans for more than $1 billion in acquisitions, with a focus on both large apartment buildings and smaller "scattered site apartments." The firm also plans to start one new development in 2024 and secure contracts for three new sites. These financial strategies underscore Coastal Ridge's commitment to growth and market expansion.

Pipeline Development

Coastal Ridge's development pipeline is centered on build-to-rent communities, branded as Stillwell. Recent projects include:

• Stillwell at Avery Centre: A 225-unit build-to-rent community in Round Rock, Texas, developed in partnership with Halstatt Real Estate Partners.

• Stillwell Jerome: A 230-unit luxury build-to-rent community within Jerome Village in Plain City, Ohio.

These developments reflect the firm's strategic focus on providing rental housing that combines the benefits of single-family homes with the conveniences of multifamily living.

Technological Platform and Innovation

Coastal Ridge leverages a vertically integrated platform to manage the entire real estate investment lifecycle. This approach includes proprietary technologies and methodologies that enhance property management efficiency and investment decision-making. In 2024, the firm launched an internal digital marketing agency to assist third-party management clients with website improvements and online leasing promotions. Additionally, Coastal Ridge is exploring the integration of artificial intelligence to further enhance resident services and operational efficiencies.

Leadership Team

Coastal Ridge's leadership team comprises experienced professionals dedicated to strategic oversight and operational excellence:

• Andy Lallathin: Co-Founder and Co-CEO, instrumental in guiding the firm's strategic direction.

• Patrick McBride: Co-Founder and Co-CEO, focusing on investment strategies and growth initiatives.

• Jay Harkrider: Co-Founder, contributing to the firm's development and expansion efforts.

• Ben Texler: Partner and President, overseeing daily operations and corporate strategy.

• Dan Dooley: Chief Investment Officer, responsible for investment management and portfolio growth.

• Mark Yale: Chief Financial Officer, guiding the firm's financial performance and reporting.

• Matt Comer: Managing Director of Accounting, ensuring financial accuracy and compliance.

• Ryan Dolan: Managing Director and General Counsel, overseeing legal affairs.

• Chris Dusseau: Managing Director and General Counsel, focusing on legal strategy.

• Jeremy Gorsky: Managing Director of Investor Relations, managing relationships with investors.

• Joe McDiffitt: Managing Director of Property Management, leading property operations.

• Mike Meehl: Managing Director of Asset Management, overseeing asset performance.

• Jerimi Nuckolls: Managing Director of Development, directing development projects.

• Taylor Smith: Managing Director of Business Development, driving growth initiatives.

• Mike Barker: Executive Director of Information Technology, managing IT infrastructure.

• Caitlin Carney: Executive Director of Sales & Learning, leading sales strategies and training.

• Tim Gribben: Executive Director of Capital Projects, overseeing capital improvement projects.

• Michael Huereque: Executive Director of Marketing, directing marketing efforts.

• Allison Jividen: Executive Director of Human Resources, managing HR functions.

This team collectively drives Coastal Ridge's mission and strategic objectives.

Leadership Changes

In March 2023, Coastal Ridge appointed Mark Yale as Chief Financial Officer. Mr. Yale brings over 20 years of financial leadership experience, having previously served as Executive Vice President.