Price Brothers is a family-owned real estate firm established in 1922, headquartered in Overland Park, Kansas. With a legacy spanning over a century, the company has grown into one of the largest real estate owners in the Kansas City area, managing a diverse portfolio that includes over 10,000 apartment units, single-family home subdivisions, and commercial properties. Price Brothers is committed to enhancing community living through quality development, construction, and management of residential and commercial spaces.
Key Strategic Focus
Price Brothers specializes in the development and management of residential and commercial real estate. Their strategic objectives include expanding their portfolio through acquisitions and new developments, with a focus on mixed-use projects that integrate living, working, and recreational spaces. The company targets markets experiencing robust population growth, such as the Dallas metroplex, to capitalize on increasing demand for quality housing and commercial spaces.
Financials and Funding
As of November 2024, Price Brothers reported annual revenues of approximately $75 million. The company employs around 230 individuals across multiple continents, including North America, Europe, and South America. In September 2024, Price Brothers expanded its Dallas portfolio by acquiring Eastpark Apartments in Denton, Texas, a 333-unit community built in 2022. This acquisition was made in partnership with 7Acre, a Kansas City-based investment manager, reflecting the company's strategic use of partnerships to finance and manage new developments.
Pipeline Development
Price Brothers has several key projects in various stages of development:
- Bluhawk Development: A 277-acre mixed-use project in Overland Park, Kansas, featuring residential units, retail spaces, office buildings, and a sports complex.
- AdventHealth Sports Park at Bluhawk: A 420,000-square-foot sports facility set to open in October 2024, including an NHL/NCAA-regulated ice rink, basketball and volleyball courts, and a family entertainment center.
- The Marketplace at Bluhawk: A 270,000-square-foot retail development offering a variety of shopping and dining options.
- Sky on Main: A 21-story former office building in Kansas City, Missouri, being converted into 281 residential units and 20,000 square feet of ground-floor commercial space.
Technological Platform and Innovation
Price Brothers leverages a robust technological infrastructure to enhance operational efficiency and customer experience. Their tech stack includes Google Analytics, Cloudflare, Amazon Web Services (AWS), and other modern tools, reflecting a commitment to innovation in property management and development. This tech-forward approach enables the company to streamline operations, analyze market trends effectively, and provide superior service to residents and commercial tenants.
Leadership Team
The leadership team at Price Brothers comprises experienced professionals dedicated to the company's growth and success:
- Kent Price: President with over 35 years of experience in real estate development, construction, and management.
- Bart Lowen: Vice President of Development, overseeing strategic planning and execution of development projects.
- Mark Sherwin: Director of Construction, managing all phases of construction projects with over three decades of industry experience.
- Stephanie Collins: Director of Development Finance, responsible for evaluating development opportunities and sourcing capital.
- Jim Calvert: Project Manager, focusing on the successful delivery of development projects.
- Ty Turner: Project Manager, overseeing project planning and execution.
- Joe Behrman: Hotel Development Manager, specializing in hospitality projects within the company's portfolio.
Competitor Profile
In the competitive real estate market, Price Brothers distinguishes itself through its extensive property portfolio and long-standing history. Key competitors include:
- The Peterson Companies: Managing approximately 4,983 units in the Kansas City area, focusing on residential and commercial properties.
- NFI Management: A significant player in property management with a diverse portfolio.
- Maxus Realty Trust: Specializing in real estate investment and management, with a focus on residential properties.
- Landmark Realty: Managing a variety of residential and commercial properties, contributing to the competitive landscape.
Strategic Collaborations and Partnerships
Price Brothers actively engages in strategic partnerships to enhance its market position and development capabilities. The collaboration with 7Acre for the acquisition of Eastpark Apartments exemplifies this approach, allowing the company to expand its footprint in the Dallas metroplex and leverage shared expertise in property management and development.
Operational Insights
Price Brothers' strategic considerations include:
- Market Position: As one of the largest real estate owners in Kansas City, the company leverages its extensive portfolio to maintain a competitive edge.
- Competitive Advantages: A commitment to quality, integrity, and community engagement sets Price Brothers apart in the industry.
- Distinct Differentiators: The company's long-standing history and family-owned structure contribute to a unique market presence, fostering trust and reliability among stakeholders.
Strategic Opportunities and Future Directions
Looking ahead, Price Brothers aims to:
- Expand into High-Growth Markets: Continue targeting areas with robust population growth, such as the Dallas metroplex, to capitalize on increasing demand for quality housing and commercial spaces.
- Enhance Technological Integration: Further integrate advanced technologies to streamline operations and improve customer experiences.
- Develop Mixed-Use Projects: Focus on creating integrated communities that offer residential, commercial, and recreational spaces to meet diverse consumer needs.
For more information about Price Brothers and their portfolio, visit their official website:
Price Brothers' commitment to quality development and community engagement positions them as a significant player in the real estate industry, with a strategic focus on growth and innovation.
