Redwood Investor Insights

Redwood Releases 2025 Investor Impact Report

Fri, 06 Feb 2026 18:51:56 GMT

Redwood’s 2025 performance reflects a year of steady, intentional growth, strengthened day-to-day operations and continued interest in the company’s single-story apartment homes. Strategic investment activity, paired with a resilient portfolio, allowed Redwood to make notable progress across development, leasing and capital markets.

“Redwood’s achievements this year demonstrate the power of our model: thoughtful development, strong operational fundamentals and an unwavering commitment to creating value for our residents, team members and investors,” said Steve Kimmelman, founder and CEO of Redwood. “We are optimistic about the opportunities ahead as we continue expanding into highly desirable suburban markets.”

Below are highlights from 2025.

A Growing Portfolio

Delivering for Investors

Redwood’s investment platform was strongly supported in 2025 by long-standing partners and new contributors. A total of 222 investors participated across Redwood’s offerings, including 181 development investors and 41 flexible note investors. Forty-five new investors joined Redwood this year ( 30 within development projects and 15 within the flexible note program) demonstrating confidence in Redwood’s strategy and performance.

Capital raising remained strong. Redwood secured $66.25M in development equity, enabling the launch of 12 new development projects, including three hybrid roll-up financings. The flexible note program contributed another $29.4M , providing efficient capital to support land purchases and pre-development needs.

During 2025, Redwood also:

Paid $46.6M in preferred and promissory note interest
Returned $114.5M in equity, including:
$78.45M to development investors
$36.08M to flexible note participants
Distributed $87.9M in excess cash flow on stabilized assets (inclusive of cash-out refinancing events)

These results reflect the strength of Redwood’s approach — building thoughtfully in suburban markets where new housing is limited, while continuing to deliver steady performance across a portfolio that’s grown and matured over time. With a broadening investor community, a solid financial position and a healthy pipeline of new developments moving into 2026, Redwood is poised to continue creating strong, long-term returns.

Community Impact

Through Redwood Cares , employees, residents and investors nominated six nonprofit organizations that Redwood will support with volunteer time, promotional visibility and financial contributions.

Redwood team members volunteered 2,086 hours , contributing to food banks, shelters, community events and other mission-driven organizations across its markets. Additionally, Redwood continued its partnership with One Tree Planted . The company donated one tree for every new employee, resident and investor, resulting in 7,751 trees planted in 2025.

Looking Ahead

Redwood enters 2026 with strong development momentum and investor engagement. The company anticipates welcoming:

Six new neighborhoods across Indiana, Ohio and Michigan
Redwood Batavia Township (Ohio), Redwood Fairborn Beaver Valley Road (Ohio), Redwood Miami Township SR 28 (Ohio), Redwood Canton Michigan Avenue (Michigan), Redwood New Haven (Michigan) and Redwood Franklin (Indiana)
Four new phases in Ohio and Illinois
Redwood Vermilion , R edwood Oswego , Redwood Crystal Lake and Redwood Aurora

“With new neighborhoods underway and strong investor support, 2026 presents exceptional opportunities for Redwood to expand and deepen its presence in the markets we serve,” Kimmelman said.

To learn more about upcoming investments, development activities, and Redwood’s long-term value creation strategy, we invite you to connect with our investor relations team.

Passive real estate investment: A path to financial freedom

Wed, 29 Oct 2025 18:08:14 GMT

Real estate investment brings multiple benefits to a portfolio, but only if investors select properties and subsequently manage them in such a way to optimize return. Purchasing single-family houses or duplexes, for instance, often requires an owner to handle the management needs – either through his or her own sweat equity or by personally hiring and overseeing a property manager.

Other investment opportunities could involve entities without a solid track record or could be located in cities or neighborhoods that aren’t seeing valuation growth or are exposed to other risks.

The build-to-rent segment of real estate, where Redwood found its niche, is the fastest-growing area of the industry. Supported by a growing population that does not seek homeownership or cannot achieve it, build-to-rent neighborhoods offer the feel of single-family living with the maintenance-free approach that turns tenants into long-term residents.

Redwood Neighborhoods are known for their signature two-bedroom, two-bath floor plans that emphasize features proven to add value for residents: Spacious attached garages, large kitchens with pantries and personal patios for outdoor living. These designs enable residents to easily customize their space, creating a sense of home that encourages many residents to lease for multiple years; contributing to neighborhood stability and supporting long-term asset quality.

Redwood investors also enjoy property ownership as a hedge against inflation, with property valuation and rents historically rising along with inflation. In the meantime, there are ongoing tax advantages to owning real estate in addition to an opportunity through the Redwood Equity Program to receive a return of equity during strategic refinances.

By adding passive real estate income to a portfolio, investors can generate a steady stream of income while at the same time positioning themselves for the future with assets that gain value over time.

There’s a strong alternative to those seeking to invest in real estate without the middle-of-the-night calls from tenants and weekends in property manager mode – it’s all about finding the right partner.

To learn more

Redwood is continually developing new neighborhoods in markets chosen for their growth trajectory, favorable demographics and convenient amenities.

To find out more about current deals, upcoming opportunities and Redwood’s unique approach to real estate investment, connect with a member of our Investor Relations team here .

6 key advantages Redwood build-to-rent neighborhoods offer investors

Tue, 14 Oct 2025 14:25:47 GMT

What began as a belief — that apartment residents desired a different lifestyle — has evolved into a proven business model at Redwood Living, Inc. By creating and cultivating apartments that feel like home, with privacy, attached garages and single-story living, Redwood Neighborhoods have filled and multiplied across the Midwest and beyond.

The numbers begin to tell part of the story:

20,500+ Redwood apartment homes across nine states
2,300+ apartments under construction
Feedback from 30,000 current residents, 640 Redwood Ambassadors, and hundreds of trade partners—all shaping how Redwood designs, builds, and operates
A pipeline of over 8,000 future apartment homes
Assets under management valued at more than $5 billion
And a clear goal: 30×30—30,000 Redwood apartment homes by December 2030

“None of this would be possible without our investors,” Steve Kimmelman, Founder and Chief Executive Officer said. “They’ve built the Redwood platform with us, and as strong as our past has been, we believe the best is still ahead.”

Recently, Redwood leaders shared additional insight into the company’s achievements and growth strategy. Here are six key takeaways for current and prospective investors.

Strong, steady performance

Redwood is enjoying a solid growth trajectory, with success in several key metrics:

Occupancy at 96%, up 1.4% year over year
Rent growth averaging 3%
Renewal rent growth at an outstanding 5%
Resident retention at a strong 59%

“There’s also a strong pipeline ahead,” Kimmelman said. “We’ve secured zoned land in markets we consider Tier 2 growth markets, which allows us to develop and lease up consistently while others in the industry focus on oversaturated markets.”

Long hold strategy and downside protection

Redwood’s approach emphasizes pacing, resilient underwriting and re-underwriting through lease-up. The company takes a conservative approach to debt, avoiding reliance on rate relief.

“We continue to maintain consistent underwriting standards across all projects, with a heavy focus on market rental rates, real estate taxes, and interest rates,” Kimmelman said.

“We are not structuring deals based on speculation around interest rate changes; we're underwriting to current conditions. We’ve also proven resilience across economic cycles because of where—and how—we build: neighborhoods in untapped markets where demand for our product is real and lasting.”

Product differentiation that residents value

Redwood’s single-story living in apartment homes with attached garages reduce shared walls and noise, improve maintenance access and support higher resident satisfaction and retention.

“The BTR universe is diverse, but not all product types perform the same,” Kimmelman said. “At Redwood, our differentiator matters. Our neighborhoods attract renters who want the privacy and simplicity of a home without the burdens of ownership. This is not just about unit count—it’s about fit and execution. We’re not trying to win on density; we’re winning on product-market fit.”

The approach has proven successful, attracting a variety of demographics including empty nesters, downsizers, professionals, and renters-by-choice, with more than 70 percent resident retention in stabilized neighborhoods.

Construction cost discipline and underwriting clarity

In a world of uncertainty, Redwood takes steps to ensure schedule reliability, value-engineering and targeted spec adjustments throughout construction and design.

“Our underwriting is conservative, and our assumptions evolve with policy, labor, and materials volatility,” Kimmelman said.

“We’ve implemented budgeting tools based on neighborhood age that help us anticipate maintenance costs, capital needs, and staffing over time.”

Redwood distinguishes between core features and optional upgrades in its homes, allowing pricing to align with resident expectations and willingness to pay, rather than overbuilding amenities that don’t deliver ROI.

“Our design standards also limit vertical construction complexity, reducing material costs and mitigating some policy-driven regulatory risk compared to denser structures,” Kimmelman said.

Design and technology that matter

Redwood has implemented practical tools and resident-informed designs that continue to remove friction for residents and on-site teams.

“We’ve established design standards that scale without quality loss, allowing for consistency across neighborhoods,” Kimmelman said. “We’re also leaning into technology, including AI, as we continue to hone our approach.”

That includes everything from integrating AI into some of the leasing process to “The Redwood Choice®” which allows residents to choose their communication and apartment touring style.

New smart-home features currently being piloted in some Redwood Neighborhoods include keyless entry, Ring doorbells, connected thermostats and leak sensors.

“Our residents help inform our design choices and amenities,” Kimmelman added. “Their feedback has led to more flexible spaces, optimized storage, a trend toward lighter design palettes, elevated curb appeal and enhanced livability with wider kitchen work zones, pet-friendly flooring and EV-ready garages.”

Capital, liquidity and what’s next

Redwood remains focused on balanced deployment, durable distributions, and selective growth aligned to the 30×30 plan.

“We’ve structured our platform for resilience, but macro policy will always influence timing and scale of returns,” Kimmelman said. “However, our long-term hold philosophy allows us to weather rate cycles without being forced to exit or refinance prematurely.”

Redwood’s vertically integrated model also limits fee leakage, helping preserve margin even in tighter environments.

“We don’t rely on rent spikes or short-term IRR-driven flips, so we can maintain distributions more consistently — even if modestly adjusted,” Kimmelman said.

For product evolution, Redwood is excited to add new layout options for residents, including three-bedroom floor plans and two-story townhomes.

“Reaching Redwood’s long-term goals will take real discipline, but we will achieve it while never compromising on the quality and consistency our residents expect and our investors deserve,” Kimmelman added.

As the broader rental housing industry grapples with oversupply in certain markets, increasing regulatory pressure and shifting renter preferences, Redwood stands apart by anticipating where demand is moving. By delivering the type of homes today’s renters increasingly seek—private, maintenance-free with flexible accommodations in growth markets—Redwood has positioned itself at the intersection of lifestyle demand and investment durability. For investors, that translates into a platform built for resilience, consistent returns and long-term growth that outpaces many traditional multifamily strategies. To find out more about current deals, upcoming opportunities and Redwood’s unique approach to real estate investment, connect with a member of our Investor Relations team here.

Redwood 2025 Mid-Year Update: Strategic Growth, Portfolio Milestones and Capital Momentum

Fri, 08 Aug 2025 14:28:05 GMT

As Redwood Living, Inc. reaches the midpoint of 2025, the company reports continued execution on its strategic growth plan, notable portfolio expansion and strong capital momentum.

“Redwood’s growth comes from execution and discipline,” said Steve Kimmelman, founder and CEO of Redwood. “We’re expanding our footprint and strengthening the portfolio with the right partners.”

Reaching 20,000 Homes — and Counting

Earlier this year, Redwood celebrated a major achievement: surpassing 20,000 apartment homes across its growing national portfolio.

“This milestone proves the strength of our development model and the demand for our single-story product,” said Kimmelman. “Each home reflects our commitment to quality while maintaining simplicity for our residents.”

Redwood’s development activity continues to expand across the Midwest and Carolinas. So far in 2025, the company has opened four new neighborhoods:

Redwood Amherst (OH) | Redwood Amherst also introduces a range of new design and amenity features the company is thoughtfully piloting for potential use in future neighborhoods. Among them are new siding colors, one- and three-bedroom floor plans, extended garages, white cabinetry, refreshed exterior finishes, and an enhanced leasing center — all aimed at enriching the resident experience and guiding future development choices.
Redwood Galloway (OH)
Redwood Fox River Grove (IL)
Redwood Merrillville (IN)

Six more neighborhoods are scheduled to open by the end of 2025:

Additionally, Redwood Obetz (Phase 2) opened earlier this year, and new phases are coming soon at Redwood Washington Township (Phase 3), Redwood Comstock Township (Phase 2), and Redwood Vandalia (Phase 2).

Across its stabilized portfolio, Redwood continues to see strong performance, with average occupancy holding steady at 96%.

Investor Highlights

In the first half of 2025, Redwood successfully executed on several key capital initiatives:

Closing six construction loans
Raising over $30 million in new construction preferred equity
Securing $96 million in new construction financing

These activities support Redwood’s targeted expansion strategy and ensure the company is well-capitalized for future phases of development.

Recognized for Excellence

Redwood’s people-first mindset and strong operating fundamentals continue to earn recognition at both the national and local levels. Recent awards include:

Multifamily Development of the Year for Redwood Bellevue South 25th Street – CoStar Impact Award
Best Overall Operator – 2024 Resident Choice Awards
Top Online Reputation Management Performer – J Turner Research and Multifamily Executive
Multiple workplace culture recognitions – Read more

Redwood’s success and expertise also is making headlines nationwide.

The first half of 2025 brought significant media coverage, resulting in millions of impressions and highlighting everything from its new neighborhoods to thought leadership in the build-to-rent industry.

Coverage has included an array of local media outlets in Redwood markets along with business and trade media such as Crain’s Cleveland Business , CREMarketBeat and MultifamilyBiz . Media with broad reach such as The Associated Press and Yahoo! Finance provided syndicated coverage and helped amplify Redwood’s reach.

“We’re growing in the markets where we’ve proven success—alongside the partners who help make it possible as we exceed 20,000 homes,” said Kimmelman.

Redwood’s First Omaha-Area Neighborhood Named 2025 Multifamily Development of the Year CoStar Impact Award Winner

Fri, 28 Mar 2025 18:25:50 GMT

Redwood Bellevue South 25th Street has been honored for addressing a critical housing need and contributing to local economic growth in the Omaha, Nebraska market.

Redwood Living, Inc. (Redwood), known for building and managing multifamily build-to-rent apartment neighborhoods across the Midwest and the Carolinas, has received a notable industry award for its first Omaha, Nebraska neighborhood.

Redwood Bellevue South 25th Street has been named the 2025 Multifamily Development of the Year CoStar Impact Award winner in the Omaha market. Impact Award winners across the nation—chosen for their growth, diversification, and ability to overcome unique challenges in their markets—were selected by a panel of industry professionals familiar with each respective market.

Redwood Bellevue South 25th Street was specifically chosen as an award-winning project in the Omaha market because, despite rising construction costs, supply-chain delays and labor shortages, it enhanced the area, addressed a critical need for housing and contributed to local economic growth. The neighborhood, which welcomed its first residents last spring, features 131 single-story apartment homes ranging in size from 1,294 – 1,620 square feet. Each of the four different floor plans include two bedrooms, two bathrooms, a two-car attached garage and all the signature advantages that make living in a Redwood apartment feel more like home.

“We are honored that Redwood’s first neighborhood in Omaha has already been recognized with such a prestigious award,” said Steve Kimmelman, founder and CEO of Redwood. “As we continue to grow in the Omaha area with two more neighborhoods under construction, this recognition is a testament to the initial impact we’ve had in the market and reinforces our commitment to providing thoughtfully designed homes that meet the needs of today’s renters.”

The CoStar Impact Awards recognize exemplary commercial real estate transactions and projects completed in 2024 that have significantly influenced neighborhoods or submarkets across 129 major international markets in the United States, Canada, and the United Kingdom. The awards honored over 340 winners for their CRE transactions across five categories: Lease of the Year, Sale/Acquisition of the Year, Commercial Development of the Year, Multifamily Development of the Year and Redevelopment of the Year.

“Each year, the CoStar Impact Awards celebrate commercial real estate professionals that are introducing innovative and transformative projects and transactions in the industry,” said Lisa Ruggles, Senior Vice President, Global Operations at CoStar Group. “We received an incredible number of submissions this year and enlisted a diverse panel of judges across each market to identify the most impactful projects shaping the commercial real estate landscape. Congratulations to all the winners for their efforts to transform the industry and the communities they serve.”

To learn more about Redwood’s upcoming development plans in Omaha, visit here . To learn more about investing in an upcoming Redwood Neighborhood and get access to the BTR equity deal pipeline, fill out our contact form .

About Redwood Living, Inc.

Redwood Living, Inc. (Redwood) is an innovative development and property management company with neighborhoods in Ohio, Michigan, Indiana, Illinois, Iowa, North Carolina, South Carolina, Kentucky and Nebraska. The success of Redwood’s approach to construction, development and property management continues to be validated in new and existing markets. Redwood is a company that believes in its mission, product and amazing people. It creates a simplified, relaxed lifestyle for residents, and offers a rewarding atmosphere for its employees. For more information, visit https://www.byredwood.com.

About CoStar Group

CoStar Group (NASDAQ: CSGP) is the global leader in commercial real estate information, analytics, and online marketplaces. Founded in 1986, CoStar Group is dedicated to digitizing the world’s real estate, empowering all people to discover properties, insights, and connections that improve their businesses and lives.

CoStar Group’s major brands include CoStar, a leading global provider of commercial real estate data, analytics and news; LoopNet, the most trafficked commercial real estate marketplace; Apartments.com, the leading platform for apartment rentals; and Homes.com, the fastest-growing residential real estate marketplace. CoStar Group’s industry-leading brands include STR, a global leader in hospitality data and benchmarking, Ten-X, an online platform for commercial real estate auctions and negotiated bids and OnTheMarket, a leading residential property portal in the United Kingdom.

CoStar Group’s websites attracted over 134 million average monthly unique visitors in the fourth quarter of 2024, serving clients around the world. Headquartered in Arlington, Virginia, CoStar Group is committed to transforming the real estate industry through innovative technology and comprehensive market intelligence. From time to time, we plan to utilize our corporate website as a channel of distribution for material company information. For more information, visit CoStarGroup.com.

Talking Tours: Apartment Residents Credit In-Person Visits as Major Factor in Deciding Where to Live

Mon, 24 Mar 2025 15:41:33 GMT

When it comes to deciding on a new apartment home, residents generally prefer to see their space in person first.

Touring a model apartment, whether furnished or unfurnished, often is the difference-maker before someone signs a lease, according to the 2024 Build-to-Rent Tenant Survey.

Conducted for New Home Trends Institute by John Burns Research & Consulting, the survey includes responses provided by 7,625 tenants nationwide.

It found touring an apartment home, whether self-guided or with a property representative, was a primary factor that influenced a rental decision.

Seventy-seven percent of respondents toured before deciding on their next home, versus 10 percent who relied solely on photos or video tours.

“At Redwood, we offer in-person and virtual tours as well as self-guided options, understanding that people’s locations and schedules drive a need for flexibility,” said Steve Kimmelman, Founder and CEO at Redwood. “Our goal is to provide the same comprehensive experience no matter how you choose to tour our neighborhoods.”

Other initial factors also influence rental decisions. Nearly four in 10 survey respondents said seeing photos or videos of the apartment community online had an impact on where they decided to rent, speaking to the importance of featuring high-quality photos and videos online.

Nearly half said touring a furnished apartment influenced their decision, while 47 percent were influenced by a non-furnished one.

Self-guided tours have gained popularity in recent years across the industry. Prospective residents can enjoy touring on their own and at their own pace at a time that works for them—even outside normal office hours—helping them gain a better understanding for their design and layout options.

“We want a resident to be able to picture themselves living in one of our neighborhoods,” Kimmelman said. “It’s why we encourage anyone touring on their own to take their timeand truly envision their daily lives if they lived in a Redwood home. We tell people to explore the appliances and storage in the kitchen, consider how each floor plan can accommodate any work-from-home needs or their hobbies, and see the neighborhood outside of the model home.

Redwood’s self-guided touring strategy, in place across the portfolio for years, has always been to provide prospective residents with an additional way to get a feel for life at Redwood, while increasing the hours each day it’s possible to tour. By offering self-guided tours even outside office hours, there is additional opportunity for people to tour, without the restrictions of when on-site teams can meet with them.

If a prospective resident prefers to tour with a team member, Redwood is more than happy to work one-on-one to show the options.

“Our on-site teams love getting to learn about a prospective resident’s lifestyle and their needs for their home, so they can help explain the advantages of living in a Redwood Neighborhood,” Kimmelman said. “It’s easy to schedule an in-person tour online or by phone at any of our neighborhoods.”

And if a prospect’s apartment search is happening from afar, Redwood teams can even provide a fully personalized virtual tour, in addition to the photos and videos available to browse online.

“Our virtual tours are easy to schedule and done using the platform of choice, from FaceTime to WhatsApp or Google Duo,” Kimmelman said. “Our teams can walk prospects through the apartment in real time and answer any questions along the way.”

The entire application process also can be completed online for added convenience.

And while a tour is important, other factors matter greatly once residents move in. Click here to see what survey respondents had to say about on-site maintenance.

Redwood Recognized for Online Reputation and Resident Satisfaction

Thu, 06 Mar 2025 15:42:45 GMT

Prestigious Recognition in the Multifamily Industry

Redwood is proud to announce that its commitment to exceptional resident experiences has been recognized with two prestigious accolades: the Elite 1% ORA® Power Ranking by J Turner Research and Multifamily Executive, and the Resident Choice Awards powered by Opiniion. These honors highlight Redwood’s dedication to providing remarkable living experiences where residents feel valued, heard, and supported.

Elite 1% ORA® Power Ranking: A Benchmark for Online Reputation Excellence

The Elite 1% ORA Power Ranking, now in its 11th year, evaluates over 144,000 properties nationwide to identify those with the highest Online Reputation Assessment (ORA) scores. This independent ranking aggregates and analyzes online ratings from leading review sites and Internet Listing Services (ILSs) to generate a comprehensive measure of a property's online reputation.

A total of 1,371 conventional properties made the Elite list for 2024. To qualify, a property had to achieve a minimum ORA score of 93 as of December 2024 and have at least 20 online reviews.

Redwood is proud to recognize the following neighborhoods for their outstanding achievement:

Redwood Canal Winchester (ORA: 97)
Redwood Battle Creek (ORA: 96)
Redwood North Canton (ORA: 94)

Resident Choice Awards: The True Measure of Resident Experience

Redwood is proud to announce that it has been named the number ONE overall operator for 2024 in the 10,000+ unit segment. It also ranked first in Best Move-In , Best Move-Out , and Best Maintenance .

Beyond public ratings and secret shops, the Resident Choice Awards recognize the best-in-class communities and housing operators based on real, day-to-day resident feedback. This accolade is based on analyzing resident experiences throughout the entire year, including feedback from move-ins, move-outs, maintenance requests, and daily interactions.

Using Opiniion’s advanced scoring algorithm, properties of all sizes and asset classes are evaluated fairly—whether a community has 40 units or 4,000. This ensures an unbiased and comprehensive understanding of how well communities truly serve their residents.

Elevating Resident Experiences

Redwood’s exceptional reputation is built on the dedication of its on-site teams, who consistently go above and beyond to deliver remarkable service. Across review platforms such as Google, Apartments.com, and others, residents have shared glowing feedback about their experiences at Redwood neighborhoods.

To view the complete list of Elite 1% ORA properties for 2024, visit Elite 1% 2024 . To view the complete list of Opiniion Resident Choice Awards, visit Resident Choice Awards - Opiniion .

Interested in Learning More About Redwood or Investing?

Head to our About page or reach out directly to our dedicated Investor Relations team by filling out the contact form .

Redwood marks milestone year in 2024

Mon, 10 Feb 2025 21:08:14 GMT

Strategic investments in new neighborhoods combined with the success of the current portfolio resulted in a remarkable year for Redwood Living, Inc.

“Redwood’s collective accomplishments in the last year once again demonstrated our commitment to operational excellence, savvy site selection and outstanding service to our residents, team members and investors,” said Steve Kimmelman, founder and CEO of Redwood. “We approach the year ahead with solid optimism and are excited by the opportunities we see in the marketplace to continue to deliver strong results.”

Below are some Redwood highlights from 2024.

A Growing Portfolio

Throughout 2024, Redwood welcomed 12 new apartment neighborhoods that opened or are nearing construction completion across 6 states— Ohio, Michigan, Nebraska, Indiana, Illinois, and North Carolina .

In addition to new neighborhoods, 5 Redwood Neighborhoods expanded this year, which included new apartment homes in locations across Michigan, Ohio, North Carolina and South Carolina. In total, more than 2,400 apartments were added to new and existing neighborhoods.

With thousands of new apartment homes came thousands of new residents. Redwood welcomed 7,610 residents to new and existing neighborhoods throughout 2024. As a result, a new revenue milestone was reached—neighborhood LLCs reached a combined total of $400+ million in annual revenue in December 2024.

Redwood’s development success also attracted significant media attention from dozens of local, regional, and national outlets, including GlobeSt , Yahoo , and Crain’s Cleveland Business .

Delivering for Investors

Redwood’s development activity was fueled greatly by the partnership of new and existing investors. In 2024, Redwood welcomed 114 new investors, closed on 10 new construction projects, and secured $292.7 million of development capital, which fueled development activity, and set the stage for future growth.

Thanks to its focus on proactive asset management, Redwood increased rents 4+% and NOI 3+% on its stabilized portfolio, increasing Neighborhood value and the ability to have accretive refinancings. The company secured an incremental $267.9+ million of limited or non-recourse financing on 25 unique loan closes.

Investors benefitted from Redwood’s strategies in 2024, in the following ways:

Redwood paid $42.7 million  in interest on both preferred equity and mezzanine investments combined
It returned $68.9 million  of principal for both preferred interest and mezzanine investments combined
The company distributed an incremental $60.5 million  in excess cash flow to all stakeholders on stabilized assets (inclusive of cash-out refinancing events)

Redwood is looking forward to building on this success in 2025.

A Growing Team + Award-Winning Company Culture

The Redwood team expanded by 197 new ambassadors in 2024, bringing the total employee count to 646 .

The company was also continually recognized for excellence by various national and regional organizations, particularly in the category of company culture:

The National Apartment Association named Redwood a 2024 NAA Top Employer .
For the seventh year in a row, Redwood was certified a Great Place to Work® and was awarded a Top Workplaces award by Cleveland.com and The Plain Dealer.
Redwood was also named a 2024 NorthCoast99 award winner by ERC, the Employers Resource Council.
For the third year, Redwood earned a place on the Best Workplaces in Real Estate™ list.

For the fourth consecutive year, Redwood placed in the top 20 nationally for online reputation management (Division III) in the annual Division ORA® Power Rankings . Overall, Redwood continues to receive exceptionally high online reviews. Redwood’s average Google rating is 4.7 (compared to the industry average 3.8) and an even higher average 4.8 rating on Apartments.com.

New and Impactful Ways to Serve Redwood’s Communities

Redwood takes pride in giving back and found many ways to do so throughout 2024.

Redwood invited its employees, residents, and investors to nominate a verified 501(c)(3) organization for Redwood to support in the form of volunteer time, promotion, and monetary donations. The company donated a total of $45,000 to six deserving charitable organizations. Here’s a closer look at the program’s impact in 2024. In total, Redwood has contributed more than $100,000 to worthy organizations via the Redwood Cares program over the past three years. In addition to Redwood Cares, the company made another sizable $15,000 donation to local organizations chosen by Redwood investors at the company’s annual investor gala.

Redwood is also proud to partner with One Tree Planted, an environmental nonprofit, by donating $1 on behalf of each new Redwood employee, resident and investor to plant a tree in an area in need of reforestation. In 2024, 7,751 trees were planted thanks to these efforts.

Future Growth Plans

Looking ahead, Redwood’s plans call for continued growth and expansion, with the addition of new single-story apartment homes in current and upcoming suburban markets. The company anticipates opening 10 new neighborhoods and 2 new phases to existing neighborhoods across 4 of the states where Redwood currently operates. The company’s strong momentum is propelling Redwood to reach its goal of 20,000 homes in 2025.

To learn more about upcoming deals and Redwood’s specialized approach to development and property management, fill out the contact form to connect with our investor relations team.

Jay Parsons & Steve Kimmelman Talk Build to Rent

Thu, 30 Jan 2025 18:42:51 GMT

In a recent episode of The Rent Roll with Jay Parsons, host and industry expert Jay Parsons spoke with Steve Kimmelman, Founder and CEO of Redwood Living, Inc. about his expertise and Redwood’s success in the BTR industry over the last several decades. Coined “the BTR King” by Parsons, Kimmelman was one of the first to enter the BTR landscape before the term was even recognized. This podcast not only gives an overview of the current BTR market, but dives into Redwood’s historic success in a still-growing segment of the multifamily industry.

Watch the full podcast for an in-depth conversation between Jay Parsons and Steve Kimmelman.

You can also listen to the podcast on Spotify and Apple Podcasts .

Don’t have time for a full watch or listen? Take a look at some of the key points from the interview portion below.

Vision & Beginnings : The idea for Redwood’s current state began in 1991, when Steve Kimmelman looked at the multifamily industry and saw the need for a different type of rental, one with more square footage, open layouts, and an attached garage.

Current Scale : Redwood has approximately 22,000 units in various stages of development and construction, across a nine-state portfolio. John Burns research data shows that Redwood has more than three times build-to-rent units than anybody else in the country.

Challenges : Despite challenges like increased interest rates and construction costs, Redwood continues to thrive by involving construction trades, vendors, and employees in product development.

Popular Designs : Redwood's neighborhoods are designed to feel like single-family subdivisions but offer on-site leasing, maintenance, and amenities. The term "apartment neighborhoods" emphasizes their multifamily zoning while providing a home-like experience.

Future Plans : Looking ahead, Redwood remains committed to building despite economic challenges, leveraging AI and business intelligence to improve operations and maintain quality.

Interested in finding out more about Redwood’s impressive multi-decade track record and seeing what investment opportunities are coming up? Contact Redwood’s dedicated investor relations team today.

Looking for more industry information and reporting about BTR surveys and more? Click here to read relevant posts.

Maintenance matters: Build-to-rent tenants tout importance of on-site maintenance

Wed, 15 Jan 2025 16:32:32 GMT

In deciding where to live, a sizable majority of build-to-rent tenants point to a property’s maintenance as a critical factor.

According to the 2024 Build-to-Rent Tenant Survey, on-site maintenance is “a very important factor in build-to-rent tenants’ rental decisions.”

Conducted for New Home Trends Institute by John Burns Research & Consulting, the survey includes responses provided by 7,625 build-to-rent tenants nationwide in May and June of 2024.

On-site maintenance was rated as an important influence in rental decisions by 84 percent of tenants surveyed. Additionally, 73 percent said it was important that the property be managed by a professional rental company, and 70 percent felt on-site management or a leasing agent was important.

Furthermore, 98 percent of tenants say it’s important that maintenance requests are responded to in a timely manner.

“At Redwood, we couldn’t agree more,” said Mike VanGelder, EVP of Property Operations.

“We pride ourselves on taking a holistic approach to apartment home maintenance. It starts before a resident ever moves in, continues proactively and seasonally and is there when residents need us to respond to requests.”

Eighty-five percent of tenants surveyed said having maintenance professionals present on property – onsite and available – was important. The same number said it was key to know the people performing the work in and around their home.

More than three in four survey respondents also felt having a dedicated maintenance office in the community was important.

“Redwood residents regularly get to know their maintenance professionals,” VanGelder said. “We offer 24-hour onsite maintenance in all neighborhoods plus a resident portal that makes submitting and tracking requests seamless.”

In the summer, the air conditioning condenser is cleaned to ensure efficient cooling and lower energy bills; buildings, patios and sidewalks are power washed; and there’s a monthly exterior lighting inspection along with pest control services.

Fall brings gutter cleaning and irrigation cleaning, neighborhood winterization, utility line and GFCI outlet inspection.

And in the winter, residents receive snow shoveling on walkways and driveways when the snow exceeds two inches. Salt is applied as needed. Crack maintenance is done to prevent further damage and preserve property, along with monthly exterior lighting inspection and pond inspection and maintenance.

“Because we take such an intentional approach to ongoing and preventative maintenance, we hope residents rarely need us to respond to urgent requests,” VanGelder said. “But when they do, our goal is to be an industry leader in timely and effective response.”

The survey found nearly half of tenants – 49 percent – expect an urgent matter, such as a water leak, to be acknowledged within an hour. Two-thirds agree it should be fixed within three hours or less.

Non-urgent matters tended to draw more flexibility in acknowledging receipt and resolution.

“But if it’s an issue for you, it matters just as much to us,” VanGelder said. “We want residents to live in Redwood Neighborhoods because we make living easier, and our approach to maintenance is designed to ensure we do just that.”

Redwood will share more findings from the New Home Trends Institute in the weeks ahead. Check back here for additional reports.

And, for a look at what most build-to-rent tenants consider their most important amenities in deciding where to live, click here .

Interested in investment opportunities with Redwood? Fill out the contact form to get connected to a member of Redwood’s investor relations team.

For build-to-rent tenants, storage and flooring matter greatly in living space

Wed, 27 Nov 2024 16:43:41 GMT

Ample storage and quality flooring are among the amenities build-to-rent tenants are seeking most as they decide where to live.

While storage is a significant priority for residents, when it comes to finishes, flooring tops the list.

Nearly two-thirds of residents surveyed – 64 percent – said that a home’s finishes positively influence their rental decision. Flooring ranked the highest priority, noted by 42 percent, followed by countertop material at 33 percent and cabinets at 21 percent.

Solid-surface flooring is valued most, with residents noting its durability and ease of cleaning, especially with children and pets.

“Less carpets makes cleaning easier,” one family responded.

Another resident answered that “the color and material of the floor is perfect because it is easy to clean and scratch resistant.”

In all new builds (and many existing neighborhoods) Redwood offers luxury vinyl plank flooring, an American-made product made of stone plastic composite.

Redwood will share more findings from the New Home Trends Institute in the weeks ahead. Check back here for additional reports.

And, for a look at why most build-to-rent tenants call themselves renters by choice, click here .

Interested in investment opportunities with Redwood? Fill out the contact form to get connected to a member of Redwood’s investor relations team.

Renters by choice: More build-to-rent tenants say they rent because they want to

Fri, 25 Oct 2024 15:37:17 GMT

Call them renters by preference.

An increased number of build-to-rent tenants say they’re renting by choice, according to the 2024 Build-to-Rent Tenant Survey.

Conducted for New Home Trends Institute by John Burns Research & Consulting, the survey includes responses provided by 7,625 tenants nationwide in May and June of 2024.

It found 36 percent of tenants report they prefer to rent their home, compared with 64 percent who ultimately would prefer to own.

That represents a nearly 10 percent increase from the 2023 survey, which found 27 percent of tenants were renters by choice.

“We continue to see increases in renters by choice across our portfolio as well,” said Steve Kimmelman, Founder and CEO at Redwood.

“The benefits of renting are especially evident in our single-story apartments, which are designed to feel like single-family homes thanks to features like attached garages and private entrances. Combine those things with a maintenance-free lifestyle and freedom from the financial burdens that can come with homeownership, and we’re not surprised more people are choosing to rent.”

The preference to rent is increasing across all life stage groups, the survey found.

Among young singles and couples, 35 percent of survey responders said they prefer to rent versus 23 percent last year. Twenty-nine percent of young families surveyed say they prefer renting, compared with 17 percent last year.

Older populations are more consistent but still showing upward trends, with 32 percent of maturing families preferring renting versus 22 percent on last year’s survey. Forty-six percent of maturing singles and couples say they prefer renting compared with 42 percent last year.

“It increasingly doesn’t matter your life stage – the benefits of renting apply across the board,” Kimmelman said.

Consistent with last year, preferences to rent versus own are not correlated strongly with income. Life stage tends to play a bigger role.

No matter the household income, preferences tended to be fairly even on renting versus owning.

Most tenants – 57 percent – also said they expect to live in their current home for two to three years.

“And nearly one in three say they plan to stay four or five years – or never move,” Kimmelman said. “We find as residents customize their homes and settle into their neighborhoods, they quickly develop the same bonds to their community that people living in single-family homes do.”

More than half – 56 percent – of build-to-rent tenants surveyed said they plan to purchase their next home, which is down from 63 percent in 2023. This year, 16 percent are unsure, which is double the number that were unsure in 2023.

“People are reconsidering what it means to rent a home, because neighborhoods like those developed and managed by Redwood have redefined what it means to live in a rented home,” Kimmelman said. “We think this mindset shift combined with market forces and demographics gives our neighborhoods excellent long-term value.”

Higher mortgage rates are a factor, too. Forty-seven percent of tenants reported that mortgage rates need to decline for them to purchase a home, which is seven percentage points higher than those who say they need to save for a downpayment before purchasing.

“Residents are looking at several factors when evaluating homeownership – not just mortgage rates. For many it comes down to finding a home they like with limited options on the market. Others are looking to pay off their debt or raise their credit scores,” Kimmelman said. “And some are still trying to decide if they plan to live in an area long term or are simply waiting for their current lease to end.”

Redwood will share more findings from the New Home Trends Institute in the weeks ahead. Check back for additional reports.

Interested in investment opportunities with Redwood? Fill out the contact form to get connected to a member of Redwood’s investor relations team.

Midway through 2024, Redwood reports strong results

Thu, 15 Aug 2024 20:55:09 GMT

With new neighborhoods celebrating their grand openings, a growing portfolio and additional projects in the pipeline, Redwood has enjoyed a solid start through the first half of 2024.

A developer and manager of single-story apartment homes, Redwood has opened more than 10 new neighborhoods so far in 2024, with more in the pipeline for the rest of the year and into 2025.

“The demand for housing is still strong, and Redwood is meeting the need in markets throughout the Midwest and Carolinas,” said Steve Kimmelman, CEO and Founder. “We’re pleased with our performance through the first half of the year and continue to see momentum heading into the remainder of 2024.”

New BTR Neighborhoods Across the Midwest & Carolinas

Redwood officially welcomed its first residents in the state of Nebraska, opening Redwood Bellevue South 25th Street, which is located about 15 minutes south of Omaha.

“We’re excited about the greater Omaha area and the broader state of Nebraska,” Kimmelman said. “We see significant opportunity to bring our unique model of single-story apartments to a growing area with a strong business community and excellent quality of life.”

Redwood also continues to build on its significant presence in Ohio, opening new neighborhoods from north to south, including the visitor destination of Sandusky on Lake Erie, West Jefferson in the greater Columbus area and Redwood Cincinnati Pippin Road on the north side of Cincinnati.

Other new neighborhoods include two in the greater Chicago area, one east of Indianapolis and two in North Carolina.

“We’re very selective about our geographies and excited by every one of our new markets,” Kimmelman said. “These are outstanding sites surrounded by amenities that will create the comprehensive lifestyle Redwood is committed to delivering.”

Looking forward, Redwood has a robust pipeline of projects in development, with openings scheduled throughout the remainder of 2024 and into next year.

Portfolio Growth, Solid Occupancy

Redwood’s portfolio now encompasses more than 18,000 apartment homes developed and under management.

“It’s our goal to not only grow our presence and market share but maintain our reputation as a best-in-class developer and operator,” Kimmelman said.

“We strategically select our locations, invest in high-quality neighborhoods and the talent to manage them, and view ourselves as a long-term operator. That’s reflected in our steady and stable portfolio growth.”

Redwood’s footprint includes almost 150 neighborhoods in nine states, supported by a team of more than 600 employees.

The Redwood portfolio also continues to report solid occupancy, averaging 94.75 percent across its stabilized properties as of August 14, 2024.

“We strive to be the neighborhood of choice in the communities we serve, and we’re seeing a strong blend of both new residents and renewals, continuing our tradition of exceptional resident retention,” Kimmelman said.

Redwood in the News

Redwood’s success and expertise is making headlines nationwide.

The first half of 2024 drew more than 30 significant pieces of media coverage, resulting in millions of impressions and highlighting everything from its new neighborhoods to thought leadership in the build-to-rent industry.

Coverage has extended from local media outlets in Redwood markets to trade media such as GlobeSt , Connect CRE , REBusinessOnline.com , and MultifamilyBiz.com .

Media with broad reach such as Yahoo News and AOL have picked up local coverage and helped amplify Redwood’s reach.

In addition to highlighting its developments and industry expertise, Redwood has been able to feature its employer recognition and community involvement in these news articles.

“We have a powerful story at Redwood, and we’re grateful so many media outlets have taken interest in sharing it,” Kimmelman said.

Investing in Redwood Neighborhoods

Redwood has delivered significant value for investors so far in 2024 with continued opportunities for the remainder of the year.

Redwood Amherst closed its capital raise in late June, with $15.6 million in equity raised to support a 151-unit project in Amherst, Ohio, about 25 miles west of Cleveland.

Additional offerings include:

Redwood Whiteland, Redwood’s newest apartment neighborhood approximately 25 minutes south of downtown Indianapolis, consisting of 154 apartment homes.
Redwood's Flexible Note Program: This opportunity is a way for investors, acting as lenders, to earn a strong yield on their cash through a promissory note, with flexibility on the hold period.

As of August 15, 2024, the owners of properties that were developed by and are managed by Redwood Living continued to deliver investor returns. Investors in these properties received distributions in excess of of $22,000,000 , which includes both HUD and non-HUD stabilized assets for both Q1 2024 and Q2 2024.

For more information on current investment opportunities with Redwood, click here and to connect with a member of Redwood’s investor relations team, fill out a contact form .

Forward Looking Statements

Certain statements in this article constitute "forward-looking statements" within the meaning of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended (the "Acts"). Any statements contained herein that are not statements of historical fact are deemed to be forward-looking statements. The forward-looking statements in this article are based on current beliefs, estimates, and assumptions concerning the operations, future results, and prospects of the applicable issuer. As actual operations and results may materially differ from those assumed in forward-looking statements, there is no assurance that forward-looking statements will prove to be accurate. Forward-looking statements are subject to the safe harbors created in the Acts. Neither Redwood nor any issuer undertake any obligation to update publicly any forward-looking statements, whether as a result of new information or future events.

The investments described herein are speculative, illiquid and involve a high degree of risk, and are suitable only for sophisticated and qualified investors. Past performance of investments in an issuer that owns a project that is managed by Redwood is not indicative of future results of an investment in another issuer that will own and develop a project to be operated by Redwood. You should not invest unless you can sustain the risk of loss of capital, including the risk of total loss of capital.

Publications, videos and other information in this article are the works of independent third parties and are provided for informational purposes only. Redwood will use reasonable efforts to ensure that the sources of such material are reliable; provided, however, notwithstanding any such efforts, neither Redwood nor any issuer makes any representations or warranties as to the accuracy, reliability, timeliness or completeness of any such information in this article. All such content in this article may change without notice.

Amid market fluctuation, multifamily can remain key investment strategy

Fri, 09 Aug 2024 21:13:13 GMT

Interest rates are projected to fall and the stock market is showing volatility -- making it a timely reminder that the multifamily market can be a key part of an investment strategy.

The CBRE 2024 Global Multifamily Investor Intentions Survey found that among all major real estate sectors, “multifamily remained the top acquisition target this year,” it said.

“Nearly half of the 1,200 global investors surveyed by CBRE in late 2023 said they would primarily invest in multifamily assets and increase their purchasing activity in 2024. Investment activity is expected to pick up in the second half of the year, with more investors considering lower-risk strategies than in 2023.”

Redwood offers investors more than 30 years of multifaceted development and property management expertise, successfully developing more than 18,000 single-story apartment homes in 156 neighborhoods, many consisting of multiple LLCs, across nine states.

“We’re committed to investors throughout market cycles, with an approach that adds long-term value,” said Toney Morton, Chief Financial Officer at Redwood. “We’ve been fortunate to work with more than 800 investors in recent years and deliver a deep commitment to the partners who make our projects possible.”

Here are three key considerations in determining a multifamily investment approach in today’s market.

Strategic markets prevail

While investor attention largely focuses on growth areas in the Sun Belt, don’t ignore outstanding Midwest markets known for steady growth and stability.

“We choose markets for our Redwood Neighborhoods based on in-depth demographic surveys, firsthand knowledge of the geographies and a decades-long track record in most states where we are growing,” Morton said.

“The ‘Steady Eddy’ markets are having a moment right now with investors, but at Redwood we’ve been committed to them for years.”

Vertical integration differentiates

Redwood successfully oversees development, construction, debt placement and leasing of all its units, reducing overhead and optimizing efficiency.

“We believe in our neighborhoods and continue to own and manage nearly all properties we’ve developed over time,” Morton said. “This consistent approach bodes well with investors, team members and residents. We enjoy resident retention that exceeds the industry average and even in today’s record construction development, our portfolio is delivering 95.2 percent* occupancy.”

As of June 2024, Redwood has successfully secured permanent financing on behalf of the owners of over 175 apartment neighborhood LLCs upon stabilization. For many LLC projects, the net proceeds from the applicable project’s permanent financing was sufficient to return the majority of preferred equity to investors in the project.

Long-term demographics are favorable

Put simply, the U.S. has a housing shortage and will continue to experience one for the foreseeable future.

At the same time, residents of all demographics are gravitating toward the lifestyle afforded by renting.

“A multitude of factors are aligning in the multifamily industry’s favor, from the cost of housing to lack of inventory,” Morton said.

“Redwood strategically builds two-bedroom, two-bathroom apartment homes with private, attached garages in suburban markets — giving us broad appeal and positioning investors well no matter how markets fluctuate.”

Considering investing?

Redwood has a limited number of current opportunities, including:

Redwood Whiteland Whiteland Road IN P1 LLC | Redwood Whiteland will be Redwood’s newest neighborhood in the greater Indianapolis metro area, adding to its 2,400+ unit portfolio in the market and located at a key intersection with excellent visibility.
Redwood's Flexible Note Program | This opportunity is a way for investors, acting as lenders, to earn a strong yield on their cash through a promissory note, with flexibility on the hold period. By participating, investors receive a 10 percent interest rate for their contribution, and can choose from a 9-month, 18-month or 24-month term. The funds raised will be used for predevelopment costs, real estate acquisition, and preferred equity investments.

Click here to learn more about both opportunities or fill out the contact form to get connected to a member of Redwood’s investor relations team.

*Across stabilized properties as of July 30, 2024

Redwood named a 2024 NAA Top Employer

Tue, 11 Jun 2024 19:48:32 GMT

The results are in – Redwood has been named a 2024 NAA Top Employer by the National Apartment Association, adding to its list of national accolades that recognize outstanding company culture.

NAA’s Top Employers Awards pay tribute to management companies and suppliers from across the rental housing industry that have exceeded expectations in creating a culture that emphasizes growth and contribution. These member organizations go above and beyond to foster environments of collaboration, innovation, and hard work.

The awards are divided into four categories, one for suppliers and three for management companies. Employees and their satisfaction, measured through an anonymous survey, determine the award winners and finalists in each of the categories. The survey results are provided to all nominees to help organizations better understand and recognize employee sentiment.

“This award represents a new honor for our team, and we are especially gratified to be recognized within our industry for the exceptional work environment we have collectively achieved at Redwood,” said Steve Kimmelman, founder and CEO at Redwood. “When employees are prioritized and find meaning in their roles, then residents are happy, neighborhoods thrive, and we can continue to operate at the highest possible level as Redwood grows.”

For years, Redwood has been continually recognized for excellence by various national and regional organizations, particularly in the category of company culture. Redwood’s 600+ employees span nine states. The team has developed 18,000+ single-story apartment homes and manages 150 neighborhoods throughout the Midwest and Carolinas.

“Congratulations to Redwood for going above and beyond to cultivate an exceptional workplace environment that values engagement and learning,” said NAA president and CEO Bob Pinnegar. “Their employees made it clear that as we navigate evolving challenges, Redwood understands that the most valuable thing a company can do is invest in its workforce.”

Redwood’s commitment to its employee experience is one of the reasons it consistently hires top talent that provides an elevated experience to current and prospective residents. As Redwood grows, that top talent drives leasing at new and existing neighborhoods, proving the relationship between top employees and high levels of leasing success.

Accredited investors interested in one of Redwood's upcoming neighborhood investment opportunities can work with Redwood’s dedicated Investor Relations team. To explore current deals and learn more about Redwood’s approach to multifamily real estate investing, fill out the contact form or email InvestorRelations@byRedwood.com .

The four-legged factor: Pet friendliness is a heavy draw in build-to-rent communities

Thu, 09 May 2024 17:11:30 GMT

Build-to-rent residents love their pets – and choose their homes accordingly.

As many as two-thirds of residents say pet friendliness is a very important part of their housing decision.

The data is part of a recent survey for the New Home Trends Institute, part of John Burns Research & Consulting, which Redwood participated in along with several others in the industry.

It includes results from more than 6,000 build-to-rent tenants nationwide and provides exceptional insight into this changing industry. This is the fifth in a series of pieces detailing those findings.

“Residents’ emphasis on the importance of their pets is no surprise to us, and it’s why we go above and beyond to show that pets are welcome in Redwood Neighborhoods,” said Steve Kimmelman, Founder and CEO at Redwood.

“We allow up to three pets in each home, which far exceeds the standard in our industry and has become a wonderful perk for dedicated pet owners.”

Plus, at Redwood, residents pay the same in pet rent and up-front fees regardless of if they have one pet or three—another differentiator for the operating platform.

According to the survey, an estimated 45 percent of renters have a dog, which is in line with the national average for households. Additionally, 16 percent report having at least one cat.

“[I] chose my home because three dogs were permitted,” one survey respondent said.

Prioritizing pets can even lead to renters increasing their housing budgets.

“[There were] many cheaper options on [the] market [but] I selected my home because it was the only place that allows pets with no discrimination,” one resident said in the survey.

The heavy emphasis on pets was consistent across residents from various life stages.

“[I selected my home because] it was the only pet friendly apartment available for rent in the area at the time when I needed to move,” one resident said in the survey. “No other factors influenced my selection.”

Other elements of the Redwood living experience add to its neighborhoods’ pet friendliness.

“These are single-story spacious floor plans with attached garages, so it’s very easy to go outside with your dog,” Kimmelman said. “Our neighborhoods are also extremely walkable with lots of green space.”

In previous pieces exploring the New Home Trends Institute Survey, data indicates that build-to-rent tenants consistently cite location as their main driver in choosing a home, for a variety of reasons. Redwood dives deeper into those findings here .

Additionally, the survey revealed that build-to-rent tenants often place heavy emphasis on the quality of their professional property maintenance. Redwood details that data here .

For those looking for investment opportunities in the BTR sector, fill out our contact form to get connected with a member of Redwood’s investor relations team.

Why they lease: Build-to-rent tenants cite location as their top decision driver

Mon, 15 Apr 2024 19:16:16 GMT

They say it’s all about location – and build-to-rent tenants appear to agree.

Location is the biggest factor influencing their home selection, followed by home size.

The data is part of a 2023 survey for the New Home Trends Institute, part of John Burns Research & Consulting, which Redwood participated in along with several others in the industry.

It includes results from more than 6,000 build-to-rent tenants nationwide and provides exceptional insight into this changing industry. This is the fourth in a series of pieces detailing those findings.

“It seems simple, but it’s quite powerful: Where we live matters more than anything else about our living situation,” said Steve Kimmelman, CEO and Founder at Redwood. “That’s why Redwood puts such thorough analysis into our neighborhood development. Sometimes there’s only one opportunity to choose the locale that’s best for your future residents, and that decision can affect the property for decades.”

Proximity to work, family and friends are the specific influences in a tenant’s location decision, the survey found.

Depending on life stages, respondents weighed either how close they were to work or to their personal circle more heavily.

Overall, proximity to work was the main driver for 44 percent of respondents, followed by family and friends at 34 percent and grocery shopping at 30 percent.

Other location-specific factors included nearby restaurants, a desired school district, healthcare services and entertainment.

“These are all components of a vibrant, supportive community, and we consider all of this when choosing the location of our properties,” Kimmelman said. “Redwood’s neighborhoods generally enjoy easy access to all of the above.”

Many survey respondents echoed those priorities in their comments.

“I own a lake home in Wisconsin but would rather be near my kids and grandkids when I’m not at the lake,” one respondent said.

Location was the top factor in decision-making whether an individual preferred to rent or own.

In both cases, home size ranked second.

“These are universal priorities,” Kimmelman said. “People care about living in specific areas and then they are not willing to compromise on the size of the home, which often includes the number of bedrooms.”

All Redwood apartment homes are two-bedroom floor plans, which meet a range of households’ needs.

“The difference that we see in home selection priorities is from those who prefer to rent versus those who would prefer to own a home,” said Kimmelman. “Among those who prefer to rent, lifestyle ranks third and cost ranks fourth. For owners, it’s reversed. So that shows us dedicated renters appreciate the ambiance and amenities a build-to-rent community offers.”

In a previous piece exploring the New Home Trends Institute Survey, data indicates that build-to-rent tenants often place heavy emphasis on the quality of their professional property maintenance. Redwood dives deeper into those findings here .

Additionally, the survey revealed that build-to-rent tenants often have higher incomes and have previously owned a home. Redwood details that data here .

For those looking for investment opportunities in the BTR sector, fill out the contact form to get connected with a member of Redwood’s investor relations team.

Maintenance matters: Build-to-rent tenants detail importance of quality property management

Tue, 02 Apr 2024 19:07:37 GMT

Leaving the headaches and hassles of homeownership behind is a key driver for residents who move to build-to-rent communities and place heavy emphasis on the quality of their professional property maintenance.

The data is part of a 2023 survey for the New Home Trends Institute, part of John Burns Research & Consulting, which Redwood participated in along with several others in the industry. It includes results from more than 6,000 build-to-rent tenants nationwide. This is the third in a series of pieces detailing those findings.

“From our beginnings, we’ve prioritized on-site maintenance and professional management just as much as residents do,” said Steve Kimmelman, CEO and Founder at Redwood.

“We know that people do business with people, and the quality of management and maintenance services can be a differentiator for build-to-rent communities.”

In fact, maintenance-free living is the No. 1 reason why tenants prefer to rent. Fifty-six percent of survey respondents said they did not want the maintenance responsibility of homeownership.

“Even more than living in a newly built home, residents say they value on-site maintenance and professional management,” Kimmelman said. “It far eclipses any other reason for renting.”

The second and third most common reasons for renting include not wanting the financial responsibilities of homeownership and having the flexibility to move as needed or desired. Both drew 37 percent of respondents.

Timing for buying, including interest rates, other financial priorities, a recent relocation, temporary living situation or life transition rounded out reasons for moving to build-to-rent communities. But maintenance-free living by far was the bigger driver.

As one resident responded in the survey: “Homeownership maintenance became burdensome. [We] moved closer to our doctors and hospital. Renting gives us freedom to travel.”

“People discover build-to-rent communities at all life stages,” said Kimmelman.

“No matter what your life situation, we all find ourselves with increasingly more obligations, less time and often less capacity or interest in juggling the demands of homeownership,” he added. “The right approach to property management and maintenance takes that off our residents’ shoulders and gives them back more of their time to spend as they choose.”

It’s also a distinguishing factor from other rental options, such as renting a single-family home.

“[I selected my home because] my yard is low maintenance and I can call [the] office to have repairs done if needed,” one build-to-rent resident said in the survey.

Eighty-one percent of respondents said on-site maintenance was very or somewhat important, and 68 percent said management by a professional rental company was very or somewhat important.

“Just like the apartment homes themselves, quality maintenance and management are significant to residents,” said Kimmelman. “It validates our decision to invest in exceptional talent to support our Redwood Neighborhoods. Residents build strong bonds with our team members, and they are a key factor in strong retention.”

Findings from the New Home Trends Institute Survey also indicated that build-to-rent tenants often have higher incomes and have previously owned a home. Redwood dives deeper into those topics here .

Additionally, the survey revealed that build-to-rent tenants are often new residents to their states and will rent homes with the intent to get to know an area before ultimately moving to an owner-occupied property. Redwood details that data here .

For those looking to learn more and explore investment opportunities in the BTR sector, fill out the contact form to get connected with a member of Redwood’s investor relations team.

In transition: Build-to-rent communities attract residents on the move

Fri, 01 Mar 2024 23:00:28 GMT

Moving to a new community or state can be a big transition.

For new residents, build-to-rent communities often become their first new address, offering them a chance to acclimate to a different place while enjoying all the comforts of home.

“Getting to know a new community doesn’t happen overnight,” said Steve Kimmelman, Founder and CEO at Redwood. “When residents are new to an area, it takes time to determine which neighborhood might be the best fit for their household, where their favorite amenities are located and where they ultimately might connect to friends and neighbors who enhance their lives as they integrate into a new place.”

According to a recent survey for the New Home Trends Institute, part of John Burns Research & Consulting, 62 percent of tenants in build-to-rent communities are from a different state.

The survey includes results from more than 6,000 build-to-rent tenants nationwide and provides exceptional insight into this changing industry. This is the second in a series of pieces detailing those findings.

Within build-to-rent communities, the survey found fewer than one in five residents moved from the same zip code, while 37 percent of tenants came from the same state but lived in a different city prior to their move. One in four tenants moved from out of state.

“These residents often want to rent until they become familiar with the area,” Kimmelman said. “It’s a great way to try out a commute, see if you connect to a favorite community gathering place and get to know a neighborhood as a renter before you make a significant more permanent investment.”

The survey also revealed that most build-to-rent tenants are somewhat transient. The majority expect to live in their home two to three years, though one in five plan to be there at least five years, if not permanently. Only about one in 10 expected to be a one-year tenant.

“That shows plenty of opportunity for retention and relationship-building,” Kimmelman said. “At Redwood, because our apartment homes feel so much like a single-family home, residents quickly make it their own and feel part of the neighborhood.”

Across the build-to-rent market, the survey found most tenants, regardless of life stage, say their next living situation likely will be a transition to homeownership. The data showed that transition is particularly pronounced among young families, singles and couples, but it’s also true among mature households.

“In some cases, tenants are building homes and renting until they’re complete,” Kimmelman said. “The benefits of Redwood’s apartment homes clearly come into play for these situations, with spacious floor plans and attached garages that often serve as bonus storage.”

For those not planning to purchase a home, other plans include renting a different single-family home, purchasing a home that is not single-family detached or moving in with someone else.

“Build-to-rent communities can easily be a fit for people in transition,” Kimmelman said. “However, the underlying demographics are strong enough that even if they are shorter-term residents, they often become ambassadors of the community for others.”

Redwood participated in the New Home Trends Institute Survey along with several others in the industry. In part one of the survey, data indicates that build-to-rent tenants often have higher incomes and have previously owned a home. Redwood dives deeper into those findings here .

For those looking for investment opportunities in the BTR sector, fill out the contact form below to get connected with a member of Redwood’s investor relations team.

The affluence effect: Build-to-rent tenants reflect higher incomes, former homeownership

Fri, 16 Feb 2024 22:39:01 GMT

Build-to-rent tenants tend to be more affluent than other renters, and one in three tenants has owned a home prior to renting.

The data is part of a 2023 survey for the New Home Trends Institute, part of John Burns Research & Consulting, which Redwood Living, Inc. participated in along with several others in the industry.

It includes results from more than 6,074 build-to-rent tenants nationwide and provides exceptional insight into this growing industry. This is one in a series of pieces detailing those findings.

“We find that the data revealed from this survey often mirrors our own experience at Redwood, but also reflects broader themes that exist in the build-to-rent marketplace,” said Steve Kimmelman, Founder and CEO at Redwood. “We think our stakeholders will find these insights as valuable as we do and are looking forward to sharing them in the months ahead.”

Nearly half of build-to-rent tenants report a household income of at least $100,000, and only 10 percent report a household income of less than $50,000. Nearly 20 percent report an income of $150,000 or more.

“These residents have options, and it’s gratifying that they choose to live with Redwood,” said Kimmelman. “They appreciate our neighborhood settings, quality finishes and exceptional resident services.”

Many build-to-rent tenants often bring a history of homeownership with them, the survey found.

“When you consider that many build-to-rent tenants have previously owned a home, it’s not surprising that few build-to-rent residents require guarantors when they rent,” said Kimmelman.

“The survey found only a small percent of build-to-rent renters need one. These generally are renters with consistent income flow, a successful track record of tenancy or ownership and the means to support a lifestyle with Redwood.”

In some cases, prior homeownership encourages living in a Redwood Neighborhood, Kimmelman added.

“Many of our residents have experienced the headaches of homeownership and love the easy lifestyle a Redwood apartment home offers,” Kimmelman said. “Maintenance and DIY repairs become things of the past, leaving them more time to enjoy travel, hobbies or focus on other priorities.”

These tenants are not necessarily renting as a choice, however.

The survey found 73 percent of build-to-rent tenants would prefer to own a home.

“Life stages bring many transitions in living situations, including difficulties finding a home in some markets because of inventory challenges,” said Kimmelman. “We’re aware of that, but we also see our relationship with these residents as an opportunity to show them the benefits of build-to-rent communities.”

Saving for a down payment is a concern for only about a third of build-to-rent tenants. Market conditions—high home prices and high mortgage rates — rank higher.

“An improvement in those conditions could affect build-to-rent-demand, but long-term we know the nation is projected to have a continued housing shortage and that many in our population are expected to seek the sort of lifestyle Redwood offers,” said Kimmelman.

Other factors influencing residents’ decisions to buy a home versus rent include paying down debt, waiting to make more money or holding out until a more desirable supply of homes exists.

“Understanding our residents’ life situations and resulting rental choices is a key step in allowing us to better serve them,” said Kimmelman. “Even residents who might prefer not to rent appreciate that Redwood apartments feel like single-family homes, with attached garages, generous floor plans and outstanding amenities.”

Follow along as Redwood shares more insights and findings from the build-to-rent survey with John Burns Research & Consulting. For those looking for investment opportunities in the BTR sector, fill out the contact form to get connected with a member of Redwood’s investor relations team.

Celebrating a Successful 2023 at Redwood

Fri, 05 Jan 2024 20:44:29 GMT

Two dozen new neighborhoods, a portfolio milestone and more than 100 new investor partners helped make 2023 an exceptional year for Redwood Living, Inc .

“As we reflect on another remarkable year for Redwood, we take great pride that the strength of our product continues to stand the test of time, the uncertainties of varying market conditions and the inevitable shifts in consumer preferences,” said Steve Kimmelman, CEO of Redwood. “But our strength also comes from hundreds of investors who have placed their trust in Redwood. We are humbled by their confidence and united as a team to make 2024 another year of growth and achievement.”

Below are some Redwood highlights from 2023.

Remarkable portfolio growth

Throughout the year, Redwood welcomed 24 new apartment neighborhoods that opened or are nearing construction completion across five states—Ohio, Michigan, North Carolina, Illinois, and Nebraska. One of these neighborhoods is Redwood Bellevue South 25th Street , Redwood’s first Nebraska neighborhood, which will welcome new residents home early this year.

In addition to new neighborhoods, 10 Redwood Neighborhoods expanded this year, which included new apartment homes in locations across Ohio, Michigan, Indiana, South Carolina, and Kentucky. In total, 2,078 apartments were added to new and existing neighborhoods.

Redwood’s grand opening and development activity was fueled greatly by the partnership of new and existing investing entities. In 2023, Redwood welcomed 120 new investing entities and raised $93,717,643 in capital, closing nine deals throughout the year.

In 2023, Redwood's LLCs continued to deliver investor returns. Investors received a total of $34,292,560 in preferred interest payments and $3,637,334 in mezzanine interest payments. Additionally, Investors received $38,626,006 in distributions, which includes both HUD and non-HUD stabilized assets.

Redwood's LLCs also made significant strides in securing long-term financing for its projects in 2023. The company closed on 34 permanent loans or refinances, securing a total of $347.4 million in non-recourse or limited recourse financing. Refinancing activities resulted in a return of capital from construction investments of $30,796,055 for our preferred members, along with an additional $58,321,243 in refinance distributions. Importantly, six of these financing arrangements involved the consolidation of multiple LLCs through "rollups."

All this momentum helped the company reach its goal to grow the portfolio to 16,000 occupied homes by the end of 2023—a goal that was accomplished months ahead of schedule. The company’s development success also attracted significant media attention from dozens of local, regional, and national outlets, including Modern Home Builders , Yahoo , and Cleveland.com .

Thousands of new and deepened relationships

In 2023, Redwood significantly expanded its network of relationships.

New and existing Redwood Neighborhoods welcomed 6,915 new residents throughout the year. One of the many ways that Redwood retains and thanks those residents for choosing to rent is by hosting Resident Appreciation Months three times each year. While activities vary by month, they typically include everything from special gifts to neighborhood events to an annual grand giveaway. At the end of 2023, Redwood chose two residents to surprise in early 2024 with a once-in-a-lifetime trip to the Redwood Forest. Read more about how Redwood demonstrates appreciation for its residents all year long.

The Redwood team also expanded by 193 new ambassadors, bringing the total employee count to 634 . The company continued enhancing the ways it educates, recognizes and rewards team members to help build satisfying careers and encourage advancement. For example, the company prioritizes on-the-job training as well as external opportunities for employees to continue learning. In 2023, Redwood granted $19,672.29 in tuition assistance for employees looking to pursue degrees, certifications, attend classes and more. Redwood also had the privilege of promoting 75 team members across the company throughout the year.

A record-breaking year for awards and distinctions

Throughout 2023, Redwood was continually recognized for excellence by various national and regional organizations, for everything from construction achievements to online reputation and company culture. Continuously striving for innovation in the building process led to recognition in 2023. The company received a Gold Level award for Excellence in Construction by the Associated Builders and Contractors organization for construction of Redwood Medina Lafayette Township.

Additionally, for the third consecutive year , Redwood placed in the top 10 nationally for reputation management in the annual Division ORA® Power Rankings . Redwood earned an ORA score of 82.92 , ranking the company fourth in Division III, when the national average of 63.26. That remarkable reputation has helped Redwood gain new residents across its portfolio.

Redwood was awarded recognition consistently in the category of company culture:

For the sixth year in a row , Redwood was once again certified as a Great Place to Work® and was awarded a Top Workplaces award by Cleveland.com and The Plain Dealer. The awards reflect positive employee feedback about their workplace experience and showcase the company’s standout culture.

The company was also recognized with a Top Workplace honor in Michigan by the Detroit Free Press. Redwood developed its first neighborhood in Michigan in Lake Orion in 2013. A decade later, the company continues to expand its footprint across the state with more than 3,700 single-story apartment homes in 34 neighborhoods—and new homes being built each day.

For the second year, Redwood earned a place on the Best Workplaces in Real Estate™ list. Compiled by Fortune and Great Place to Work®, securing a spot on this list means that Redwood is one of the best companies to work for in the country.

These awards are evidence that the strategy at the company is leading Redwood toward continued success as 2024 unfolds.

Incredible opportunities to give back

Redwood takes pride in finding new and impactful ways to serve its communities, and 2023 brought plenty of opportunities to do just that.

For the second year, Redwood invited its employees, residents, and investors to nominate a verified 501(c)(3) organization for Redwood to support in the form of volunteer time, promotion, and monetary donations. The company chose to donate a total of $45,000 to six deserving charitable organizations. Here’s a closer look at the impact of this annual giving.

While Redwood’s annual giving initiative is the company’s most large-scale philanthropic effort, Redwood Ambassadors embrace the spirit of giving back and Redwood Cares all year long. In fact, they can now use up to 16 hours of volunteer time off per year. Team members can be found volunteering everywhere from animal shelters to food banks, and often host special events to benefit local nonprofits in neighborhoods throughout the portfolio. In 2023, Redwood team members volunteered a total of 1,215.5 hours .

Redwood is also proud to partner with One Tree Planted, an environmental nonprofit, by donating $1 on behalf of each new Redwood employee, resident and investor to plant a tree in an area in need of reforestation. In 2023, 7,228 trees were planted thanks to these efforts.

Looking ahead in 2024, Redwood’s plans call for continued growth and expansion, with the addition of new single-story apartment homes in current and upcoming suburban markets. New investors looking to diversify their portfolios through real estate and current Redwood partners who want to build on their success have plenty of opportunities to do so in the coming year. Redwood anticipates adding 15 new neighborhoods and three new phases to existing neighborhoods across six of the states where Redwood currently operates. To learn more about these deals and Redwood’s specialized approach to development and property management, fill out a contact form .

Residential market expert weighs in on trends, expectations for 2024

Fri, 29 Dec 2023 20:44:39 GMT

The year ahead could be a time for growth-minded developers to capitalize on a slight market slowdown while positioning their portfolios for future demand.

That’s according to Don Walker, managing principal of John Burns Research & Consulting, an expert in the single- and multi-family residential housing markets who also maintains the first and largest database of active build-to-rent communities.

Walker recently shared his market insight with Redwood leaders and investors and says multiple factors are creating long-term opportunities despite some short-term headwinds.

“It’s never been harder to buy a home, with mortgage rates up and up and up,” Walker said, noting rates are trending at their highest level since about 2000 and are driving a drop in affordability that hasn’t been this challenging for owners since he started tracking in the mid-1980s.

“People are spending 46 percent of their income to pay the monthly cost of home ownership, and the norm is 32 percent,” Walker said. “Those people that wanted to buy no longer can. They’re going to be renting longer, so that’s good for the rental industry.”

Rental housing, which encompasses everything from traditional apartments, mom-and-pop single- family homes, detached single-family home developments and the build-to-rent model embraced by Redwood, is experiencing its own market fluctuation.

“Coming out of the pandemic, people were leaving apartments in droves and moving into build-to-rent communities,” he said. “We got to around 97.5 percent occupancy coming out of the pandemic, and that’s started to go down, but communities have stopped pushing rent growth and we’ve stabilized around 96 percent.”

Rent growth in the year ahead for the sector is expected to be flat to slightly up, he said.

Land sales also are trending down, he continued.

“So individual builders are taking their foot off the gas,” Walker said. “For those who continue to move forward, you’re going to enter the market with a lot less competition than you otherwise would have.”

Interest in acquiring build-to-rent communities soared after 2020 once “institutional investors saw how well single-family rental and build-to-rents performed,” Walker added. “They said that’s where they want to be. That’s the safest risk-adjusted return they can get.”

Going forward, population demographics suggest continued need for multiple housing options.

“Long-term, we need 17 million new homes for our nation between 2020 and 2030,” Walker said.

That averages a need for 1.7 million new homes annually and given that many buyers are priced out of single-family or prefer the lifestyle offered by renting, it equals opportunity for the build-to-rent sector, he said.

“We have a lot of growth coming from those under 44 and those above 65,” Walker said. “These age groups are attracted to Redwood’s product. It’s people who are older and retired and don’t want to climb stairs or maintain a home, and it’s attractive to younger folks who don’t have children and want to live in a Redwood apartment rather than a traditional one. I think the statistics bode well for Redwood in the next five years.”

Walker has watched Redwood’s growth and calls it intentionally under-the-radar.

“They don’t have a lot of competition in their markets, and I’ve been impressed by how they’ve grown.”

The nine states and multiple metro areas where Redwood has invested in its communities show either positive net in-migration or improving out-migration, Walker said.

Metros like Charlotte, Des Moines and Indianapolis are particularly attractive, he added.

“These are steady migration markets, but we also have improving markets that are losing fewer people, so that’s all good news,” Walker said.

Walker’s firm also recently surveyed tenants, including those who live in Redwood Neighborhoods, about their experience and expectations.

“Redwood’s product is attractive to a lot of different cohorts,” he said. “Seventy-two percent of Redwood tenants said property management is an important reason for choosing their community, and 90 percent said home maintenance was an important reason. That’s an amazing number.”

Another key factor: Pets.

“We see around the country how important pets are, and Redwood has one of the most generous pet policies I see, with up to three pets for $35 in a fixed fee,” Walker said. “What that does is help attract and retain tenants.”

In the year ahead, Walker anticipates some moderation in mortgage rates, at least flat job growth and growth in personal income due to the need for workers.

“We’ve gotten more bullish and think we’ll see solid growth again in 2026,” he said, adding even if the Federal Reserve executes a “soft landing” lowering interest rates, there will be a slower growth environment for a time.

“We think home sales are going to go up as rates come down and incomes continue to go up, and we think rents are going to stay positive and gradually increase,” he said. “Build-to-rent construction, in the long run, is going to grow again, and in the near term will come down quite a bit and help demand for the people who do build in the short term.”

Redwood anticipates a robust pipeline of development activity in 2024. To learn more about current and upcoming investment opportunities with Redwood, call 216.360.9441 or fill out our contact form .

Redwood Living, Inc. exceeds annual development goal, looks ahead to 2024 ‘with great optimism’

Wed, 22 Nov 2023 16:49:25 GMT

Multifamily developer and manager Redwood Living, Inc. continues to make headlines for its new neighborhood openings and robust development plans throughout the Midwest and Carolinas.

“We set out with the goal of reaching 16,000 occupied apartment homes in 2023, and we achieved that goal well before year-end,” said Steve Kimmelman, Redwood’s CEO. “We look to finish 2023 from a position of strength and with great optimism for the coming year. We anticipate another ambitious period of growth throughout 2024 in both new and existing markets, as we welcome thousands of new residents to Redwood Neighborhoods.”

Recently, Redwood celebrated consecutive openings of neighborhoods across Ohio, Illinois, and Michigan. Each ribbon cutting event was well attended by city officials, local chambers of commerce and Redwood team members, and provided a prime opportunity to celebrate these important milestones and the impact that the neighborhoods will have in their communities for years to come.

Recent openings include:

Redwood Brunswick Hills
Location : 4356 Red Ivy Drive in Brunswick Hills, Ohio
Number of apartments : 103
Number of floor plans : 5
Square footage range : 1,294-1,620
Monthly rent : starts at $1,749

Redwood Chardon
Location : 155 7th Avenue in Chardon, Ohio
Number of apartments : 91
Number of floor plans : 3
Square footage range : 1,294-1,381
Monthly rent : starts at $1,600

Redwood Obetz
Location : 3195 Sunflower Place in Obetz, Ohio
Number of apartments : 156
Number of floor plans : 5
Square footage range : 1,294-1,620
Monthly ren t: starts at $1,899

Redwood Batavia Tealtown Road
Location : 4516 Redtinder Lane in Batavia, Ohio
Number of apartments : 100
Number of floor plans : 8
Square footage range : 1,294-1,709
Monthly rent : starts at $1,649

Redwood Groveport
Location : 5056 Sunflower Drive in Groveport, Ohio
Number of apartments : 140
Number of floor plans : 7
Square footage range : 1,294-1,620
Monthly rent : starts at $1,799

Redwood Volo
Location : 901 Wood Rose Dr
Number of apartments : 132
Number of floor plans : 6
Square footage range : 1,294-1,620
Monthly rent : starts at $2,649

Redwood Comstock Township
Location : 4895 Red Willow Trail
Number of apartments : 189
Number of floor plans : 6
Square footage range : 1,294-1,620
Monthly rent : starts at $2,224

All the grand opening and development momentum is attracting significant media attention. Redwood has been featured in dozens of local, regional, and national outlets. Below is just a sample of some of the most recent coverage:

Warren County Post: 110 Single-Story Apartment Homes Coming to South Lebanon
WCMH-TV: Apartment complex approved for Delaware’s 270-acre Addison Farms development
The Oakland Press: Rochester Hills: Building underway adds luxury apartments and new neighborhoods
Yahoo Finance: Redwood Living, Inc. expands across Chicagoland with two new apartment neighborhoods
Cleveland.com: Redwood officially opens its new neighborhood in Brunswick Hills Township
The Gazette: Redwood Apartment Neighborhoods expand to Brunswick Hills
Modern Home Builders: With its inherent expertise in property management, Redwood Living, Inc. (Redwood) is providing a leading rental housing solution across the Midwest and Carolinas
Newswire: Redwood Living, Inc. recognized nationally for reputation management excellence
World Construction Network: Work begins on Redwood Bellevue South 25th Street development
MarketWatch: Redwood Living, Inc. to open first Nebraska apartment neighborhood
MLive: The New Redwood Apartment Neighborhood in Comstock, MI

Redwood has been developing neighborhoods of single-story apartment homes for more than three decades and manages its properties with a long-term vision. Redwood investors benefit from this more predictable passive investment and income stream, allowing them to preserve capital while investing in multifamily projects. Plus, the Redwood team is involved with every stage of each neighborhood’s development and management—from land acquisition, through construction and on to daily operations.

For those interested in learning more about investment opportunities with Redwood, including current and upcoming deals, fill out the contact form below or call 216.360.9441 to speak to a member of the Investor Relations team.

Growing Population of "Homebody" Renters Finds Fit with Redwood's BTR Homes

Fri, 06 Oct 2023 14:22:42 GMT

A lifestyle that at first appeared to be a temporary pandemic shift now seems to be sticking.

According to Lia Nichole Smith of ApartmentRatings.com and SatisFacts Research, introverts and extroverts alike are embracing more time at home, treating their living spaces as sanctuaries and fueling a movement she calls “ the rise of the homebody .”

In fact, data suggests that by 2025, more than 70 percent of Americans will continue with the at-home habits that were adopted during the pandemic.

Those who choose apartment living increasingly are opting for properties that surround them with the features and services they desire as they spend more time at home – leading to positive outcomes for apartment communities that deliver for this changing lifestyle.

For a variety of reasons, Redwood Neighborhoods cater perfectly to those who want to spend more time at home.

Residents enjoy the feeling of home

While many apartments refer to their living spaces as “units,” that’s not the case with Redwood. We see them as “apartment homes” as many of the amenities and attributes feel like those you enjoy in a single-family home. Most notably, all Redwood Neighborhoods feature single-story apartment homes with two bedrooms and two bathrooms. This horizontal format eliminates the need for shared hallways, common areas and noisy neighbors above or below. Plus, private entrances and individual street addresses make it easy for guests and deliveries.

Another popular perk of living in a Redwood apartment home is the attached garage that comes standard with leases. A rarity in the rental world, there are many reasons to appreciate this amenity and creative ways to utilize the space.

A host of other advantages make prolonged time at home a joy, including eat-in kitchens with large pantries, full-size appliances, in-suite washer and dryer hookups, open floor plans with vaulted ceilings and personal patios. And furry family members are not just permitted, they are fully embraced at Redwood’s neighborhoods. So much so that Redwood allows up to three pets per apartment, and the neighborhoods offer plenty of green space for daily walks.

They can work from home

Perhaps one of the most palpable shifts from the pandemic was the transition to more permanent work-from-home or hybrid work arrangements. In turn, an increased number of workers have migrated out of downtowns to suburban living.

Redwood Neighborhoods are strategically located in prime locations within commuting distance of metro areas but outside city limits. Convenient highway access allows for easy work commutes and makes leisure trips to local shops, restaurants, parks and more a breeze. Residents can make a quick trip to the gym or grocery store over lunch and pull back into their attached garage without worrying about finding a parking spot.

In addition to an ideal location, residents living in a Redwood apartment home enjoy spacious and flexible floor plans that provide plenty of room for a well-appointed home office. Numerous windows plus doors out to the personal patio help fill the space with natural light, and single-story floor p lans help eliminate the distraction of noisy neighbors.

And also personalize their space inside and out

There is no shortage of ways to personalize space in a Redwood apartment home. Most Redwood Neighborhoods boast anywhere from five to eight different floor plans that all feature two bedrooms, two bathrooms and an attached garage. Ample storage provides space to keep and rotate seasonal décor and extra square footage means residents can arrange (and re-arrange!) furniture in different configurations.

Just as important as how an apartment looks is how it functions, and flexible floor plans allow residents to get creative in how they use the extra bedroom and living areas. Redwood residents appreciate the opportunity to create home offices, personal gyms or carve out a special spot for hobbies.

Personal patios allow every Redwood resident to enjoy dedicated outdoor living space, plus the freedom to choose how to use it. Everyone’s exterior oasis looks a little different, but many include comfortable patio seating, potted plants, container gardens and outdoor décor.

Residents can call Redwood home for as long as they want

Whether circumstances call for a short six-month lease or a resident is looking to settle into an apartment long term, Redwood offers flexible lease terms that meet them where they are in life.

For many, the decision on how long to stay greatly depends on the service they experience as a resident – and if someone is staying home for extended periods of time, exceptional service becomes even more critical. Richard Berger of GlobeSt.com points out that, “Apartment operators…must be aware that their daily operations are now being observed by their residents, who aren’t simply leaving their apartments at 8 a.m. and coming home at 5 p.m. on weekdays.” Redwood places the highest priority on the resident experience and is continuously identifying ways to demonstrate resident appreciation .

For those invested in a Redwood Neighborhood, this comprehensive approach to site selection, apartment design, operations and service leads to strong occupancy and ongoing demand. The more residents value being at home, the more they appreciate the Redwood experience.

To learn more about Redwood Neighborhoods' BTR strategy, the resident experience or to find out about investment opportunities with Redwood, fill out a contact form.

Redwood Living, Inc. Ranks Nationally for Reputation Management Excellence

Tue, 08 Aug 2023 19:01:50 GMT

Redwood Living Inc. has placed in the top 10 nationally for online reputation management in the annual Division ORA® Power Rankings , for the third time.

The Online Reputation Assessment (ORA™) score is the multifamily industry standard to measure and benchmark a property’s online reputation. The ORA™ statistical model aggregates and analyzes online ratings and reviews of more than 139,000 properties across multiple review sites and ILSs to generate a single score on a 0-100 scale that is easy to monitor, rank, and improve. This score provides a method to compare a company’s individual properties and portfolios nationally, regionally, and against the competition.

Redwood prides itself on providing a remarkable resident experience, and thus retaining residents for a longer period of time in its neighborhoods across the Midwest and Carolinas. As the company grows, it plans to maintain the same high level of renter satisfaction, and rankings like the ORA score help measure that satisfaction. The company has developed 16,000+ apartment homes and manages 130+ neighborhoods throughout the Midwest and Carolinas, with more growth on the horizon.

Accredited investors interested in a passive investment in one of Redwood's upcoming build-to-rent investment opportunities can work with Redwood’s dedicated Investor Relations team. Click to explore current deals , learn more about Redwood’s approach to multifamily real estate investing, or contact our team directly for more information about Redwood’s equity program.

Redwood Living, Inc. reports strong development start to 2023

Tue, 08 Aug 2023 16:22:19 GMT

Redwood's Single-Story Apartment Neighborhoods are Expanding Across the Midwest & Carolinas.

Ohio-based developer and manager of single-story apartment homes, Redwood Living, Inc., is off to an exceptionally strong 2023 with a number of new neighborhoods in development and recently opened throughout the Midwest and Carolinas.

“We’re pleased with our strong trajectory through the first half of 2023,” said Steve Kimmelman, Chief Executive Officer at Redwood. “Our pipeline puts us on pace to achieve our goal of reaching 16,000 occupied apartment homes in our portfolio, bringing a much-needed approach to the multifamily industry that our markets are clearly embracing.”

Redwood’s recently opened neighborhoods and those in development include:

Redwood Brunswick Hills

Location : 4356 Red Ivy Drive in Brunswick Hills, Ohio
Situated off Pearl Road and Sleepy Hollow with convenient access to nearby shopping and dining options.
Number of apartments : 103
Number of floor plans : 5
Square footage range : 1,294-1,620
Monthly rent : starts at $1,749
Neighborhood website : Redwood Brunswick Hills

Redwood Charlotte Harris Houston Road

Location : 5110 Red Alder Lane in Charlotte, N.C.
This neighborhood is adjacent to the University of North Carolina campus and is located 16 miles from Downtown Charlotte. Residents will enjoy convenient access to some of Charlotte’s best commercial and entertainment destinations, including Concord Mills, PNC Music Pavilion, Charlotte Motor Speedway and several parks and golf courses.
Number of apartments : 73
Number of floor plans : 5
Square footage range : 1,294-1,709
Monthly rent : starts at $1,999
Neighborhood website : Redwood Charlotte Harris Houston Road

Redwood Delta Township Willow Highway

Location : 7877 Celosia Drive in Delta Township, Mich.
This neighborhood is located near the corner of Willow Highway and Canal Street within close proximity to shopping, dining and entertainment options.
Number of apartments : 87
Number of floor plans : 6
Square footage range : 1,294-1,620
Monthly rent : starts at $1,799
Neighborhood website : Redwood Delta Township Willow Highway

Redwood Kannapolis Parkway

Location : 5476 Milestone Avenue in Kannapolis, N.C.
Ideally situated within minutes of Oak Avenue Mall, Vietnam Veterans Park and Frank Liske Park, along with the region’s picturesque running and biking trails. Commuters will enjoy convenient access to downtown via Interstate 85 or Amtrak.
Number of apartments : 159
Number of floor plans : 7
Square footage range : 1,294-1,709
Monthly rent : starts at $1,999
Neighborhood website : Redwood Kannapolis Parkway

Redwood Norton

Location : 3599 Redwood Boulevard in Norton, Ohio
Redwood Norton is ideally located near many points of interest, including Columbia Woods Park, Akron-Summit County Public Library, Summit Mall and the Montrose shopping area, as well as Akron-Canton Airport.
Number of apartments : 174
Number of floor plans : 4
Square footage range : 1,294-1,620
Monthly rent: starts at $1,799
Neighborhood website : Redwood Norton

Redwood Oswego

Location : 317 Madrone Drive
Situated at the southeast corner of Orchard Road and Mill Road near Oswego Village Square Park, Washington Park and Wormely Heritage Park, Little Hite School Museum, Fox Bend Golf Course and Prairie Point Community Park.
Number of apartments : 103 in Phase I and 84 in Phase II
Number of floor plans : 5
Square footage range : 1,294-1,620
Monthly rent : starts at $2,200
Neighborhood website : Redwood Oswego

Redwood Portage

Location : 1201 Snowapple Avenue in Portage, Mich.
Redwood Portage spans 18.5 acres at Lovers Lane and Centre, next to Celery Flats Historical Area.
Number of apartments : 109
Number of floor plans : 8
Square footage range : 1,294-1,709
Monthly rent : starts at $1,849
Neighborhood website : Redwood Portage

Redwood South Lebanon

Location : 4537 A Redhewn Lane in South Lebanon, Ohio
Located at the southeast corner of Mason Morrow Milgrove Road and Sutton Drive within close proximity to retail, dining and Kings Island.
Number of apartments : 110
Number of floor plans : 7
Square footage range : 1,294-1,710
Monthly rent: starts at $1,899
Neighborhood website : Redwood South Lebanon

Redwood Troutman

Location : 145 Macel Drive in Troutman, N.C.
Ideally located near recreational offerings such as Alex Cooper Park, Lake Norman State Park and Kids@Play, along with several retail destinations.
Number of apartments : 96
Number of floor plans : 6
Square footage range : 1,294-1,709
Monthly rent : starts at $1,674
Neighborhood website : Redwood Troutman

Redwood Troy Arthur Road

Location : 1030 Office Redharvest Drive in Troy, Ohio
Number of apartments : 130
Number of floor plans : 8
Square footage range : 1,294-1,709
Monthly rent : starts at $1,699
Neighborhood website : Redwood Troy Arthur Road

Redwood Vandalia

Location : 7212 Redwood Forest Drive in Vandalia, Ohio
Situated within minutes of popular city amenities, such as Charleston Falls Preserve, Benchwood Station, Montgomery County Bark Park and the city’s state-of-the-art recreation center.
Number of apartments : 171
Number of floor plans : 7
Square footage range : 1,326-1,620
Monthly rent : starts at $1,799
Neighborhood website : Redwood Vandalia

Redwood Volo

Location : 901 Wood Rose Drive
This neighborhood is located at the northeast corner of N. Ellis Drive and N. Gilmer Road, offering convenient access to local shopping and dining establishments, as well as Wauconda Area Public Library and River East Public Library. Residents can also enjoy nearby Fish Lake, Marl Flat Forest Preserve, Volo Sledding Hill, Singing Hill Forest Preserve and Jurassic Gardens.
Number of apartments : 132
Number of floor plans : 6
Square footage range : 1,294-1,620
Monthly rent : starts at $2,350
Neighborhood website : Redwood Volo

Redwood continually plans for strategic expansions, and the current pipeline is robust, with multiple new neighborhoods scheduled to open by the end of the year as well as additional phases in existing neighborhoods.

“As we look toward the next six to 12 months, the Chicagoland and Omaha areas will be geographic focuses and we anticipate continued leasing momentum and new development accordingly,” said Kimmelman.

Unlike traditional apartment complexes, Redwood’s signature design feels more like a single-family home thanks to the single-story floor plans, attached garages and private entrances with individual street addresses. Redwood apartment homes include two bedrooms and two bathrooms along with a two-car attached garage complete with ample storage.

Additional advantages that come with living in a Redwood apartment include spacious eat-in kitchens with large pantries, open floor plans, large closets, washer and dryer hookups, full-size appliances, vaulted ceilings, bonus living space, personal patios and pet-friendly accommodations, among others.

Redwood has developed 16,000+ apartment homes and manages 130+ neighborhoods throughout the Midwest and Carolinas and continues to expand. Accredited investors interested in passive investing and build-to-rent investment opportunities can work with Redwood’s dedicated Investor Relations team to find out if a Redwood project makes sense for their portfolios. Click to explore current deals , learn more about R edwood’s approach to multifamily real estate investing, or contact our team directly for more information about Redwood’s equity program.

Apartment Rents Are Falling, But Not At Redwood

Fri, 04 Aug 2023 21:14:36 GMT

A surge in new apartment construction could continue to drive rents down, as much of the U.S. has experienced moderate declines in rental rates over the last six months.

Increased inventory, rising unemployment, and an affordability crunch caused by higher prices are some of the factors at play nationally.

Redwood, however, is countering that trend. Its rents have increased steadily, and the company continues to experience high occupancy and demand for new properties.

Learn more about Redwood’s approach to pricing from Executive Vice President of Property Operations, Mike VanGelder.

Pricing in general tends to reflect supply and demand. What does that look like in the case of Redwood’s portfolio? How has occupancy been trending and what does the development pipeline look like?

Since the beginning of 2023, our occupancy has trended in a positive direction. We are seeing strong leasing interest, and as such have held our rents steady or continued to implement planned upward adjustments. We use a revenue management system that enables us to strategically make pricing decisions based on trends, including availability, traffic, leases, and comparable communities. We continue to pursue our planned pipeline, which includes nearly 1000 apartments in development in 30 new and existing neighborhoods, and we have not seen any impact on our ability to lease and deliver apartments.

What has Redwood been experiencing in terms of resident retention? In general, are you finding residents’ incomes can continue to support their existing rents, or absorb slight increases?

We are experiencing high – in some cases record high – retention percentages, despite also implementing rent increases. We have not seen pricing pressure impacting our residents at this point. Redwood residents often choose to live and stay in our neighborhoods because they are looking for stability where they can experience the same lifestyle as a single-family home without the maintenance and other considerations. These demographics and lifestyle choices support a sought-after resident base that often has the capacity to absorb rent increases.

How would you describe Redwood’s philosophy in terms of setting rents? How do you approach ongoing adjustments to rents?

We consider rent adjustments more a science than an art. I compare it to the philosophy used by appraisal companies, which value properties based on comparable properties. We take that into consideration when projecting rent. Then, after lease-up, our revenue management system takes over, using trends and performance data to adjust rents appropriately. This allows us to react with data, not emotion or expectation, and we feel the market has responded positively to the approach.

What do you think has allowed Redwood to avoid cutting rental rates in the current environment?

Simple supply and demand dictates much of it. Our product type and resident base have driven consistent demand, as residents embrace single-story rental living for a variety of reasons. We strategically choose our markets for their neighborhood settings and strong demographics, which result in a population base that frequently leads to long-term residents.

What are your expectations for rents in this sector going forward? What are some indicators Redwood will be watching as it manages its approach to setting rents?

Our expectation is a return to more historical rent increases as opposed to those seen over the last few years. We are monitoring the rental market, as well as the single-family market, as both could dictate how aggressive we are modeling future rents.

In today’s volatile market, real estate investments can be a valuable addition to your investment strategy. To learn more about investing with Redwood, call 216.360.9441 or fill out a contact form .

Redwood expands across Greater Chicagoland with two new apartment neighborhoods

Tue, 01 Aug 2023 20:42:23 GMT

Redwood's remarkable growth continues in the Chicago market with two more neighborhoods.

Ohio-based developer and manager of single-story apartment homes, Redwood Living, Inc., is building on its residential offerings across Chicagoland, adding 319 apartments in two new neighborhoods.

“On the heels of welcoming Redwood’s first Chicago-area neighborhood in Lockport, we are thrilled to enter two new communities and offer residents a unique and remarkable rental experience,” said Steve Kimmelman, CEO at Redwood. “We are confident that the growing populations of Volo and Oswego will embrace Redwood’s single-story approach to apartment living and find these new residences fill their complete lifestyle needs.”

Redwood’s two new area neighborhoods include:

Redwood Volo

Location : 901 Wood Rose Drive

This neighborhood is located at the northeast corner of N. Ellis Drive and N. Gilmer Road, offering convenient access to local shopping and dining establishments, as well as Wauconda Area Public Library and River East Public Library. Residents can also enjoy nearby Fish Lake Beach, Marl Flat Forest Preserve, Volo Sledding Hill, Singing Hill Forest Preserve and the Volo Antique Auto Museum/Jurassic Gardens.

Property acreage : 32.2

Number of apartments : 132

Number of floor plans : 6

Square footage range : 1,294-1,620

Monthly rent : $2,349-$2,900

Timing : The first residents are currently moving in

Redwood Oswego

Location : 317 Madrone Drive

Ideally situated at the southeast corner of Orchard Road and Mill Road near Oswego Village Square Park, Washington Park and Wormely Heritage Park, Little Hite School Museum, Fox Bend Golf Course and Prairie Point Community Park.

Property acreage : 25.8

Number of apartments : 103 in Phase I and 84 in Phase II

Number of floor plans : 5

Square footage range : 1,294-1,620

Monthly rent : $2,200-$2,700

Timing : The first residents are expected to move in this fall -- Phase II is expected to open Summer 2025

Unlike traditional apartment complexes, Redwood’s signature design feels more like a single-family home thanks to the single-story floor plans, attached garages and private entrances with dedicated street addresses. Every Redwood apartment home includes two bedrooms and two bathrooms along with a two-car attached garage complete with ample storage.

Redwood has developed and manages more than 15,000 apartment homes in 120+ neighborhoods throughout the Midwest and Carolinas, with more Chicagoland projects on the horizon.

For more information about investment opportunities in the Greater Chicagoland area or across Redwood's Midwest portfolio, contact our dedicated Investor Relations team or call (216) 360-9441 .

Redwood Welcomes New Neighborhoods in Illinois & Michigan

Fri, 19 May 2023 17:33:56 GMT

Redwood has officially opened its first neighborhood in Illinois and its 27th neighborhood in Michigan.

Mayors, city officials, local Chambers of Commerce and Redwood team members gathered to celebrate the recent openings of Redwood Lockport and Redwood Rochester Hills .

After some brief remarks, the ribbons were cut and guests were invited to meet the Redwood team, enjoy lunch, and tour the model homes. Redwood takes great care in staging its models so visitors can best visualize what living in a signature single-story Redwood Apartment Home is all about.

“Whether we are breaking ground or celebrating grand openings, it’s very exciting to feel the momentum at Redwood as we continue to expand the portfolio,” said Mike VanGelder, EVP of Property Operations. “It takes a tremendous effort for projects like these to come to fruition, and we could not be more delighted to welcome residents to these latest neighborhoods.”

Redwood Lockport

Upon completion, this neighborhood will include 112 single-story apartment homes in six different floor plans ranging in size from 1,294 to 1,620 square feet.

While Lockport will be Redwood’s first completed neighborhood in Illinois, there is much more to come. Looking ahead, Redwood is eyeing major expansion across the region with the potential to add as many as 3,000 apartment homes across Chicagoland over the next five years.

Redwood Rochester Hills

This new neighborhood in Michigan features 121 apartment homes in five different floor plans ranging in size from 1,294 to 1,620 square feet.

The thriving community of Rochester Hills has received multiple public accolades as a “best place to live.” Redwood Rochester Hills gives residents yet another place to call home that is just minutes away from downtown and local parks.

Check out some photo highlights from both events here.

Interested in hearing from the Rochester Regional Chamber of Commerce for their thoughts on Redwood Rochester Hills coming to the community? Watch the full video here .

Redwood is continuously expanding in markets across the Midwest and Carolinas. For accredited investors interested in passive investing and build to rent, one of our upcoming projects may be a good fit. Find current deals and more information about Redwood’s approach to multifamily real estate investing, or contact our team today!

The Ripple Effect of Resident Appreciation

Mon, 17 Apr 2023 12:30:01 GMT

Maximizing resident satisfaction and retention is vital to the success of any multifamily property. In addition to the value of a renewed lease, happy residents can significantly influence prospective residents. As flag carriers for their properties and the brand, the endorsements they share through word of mouth and positive online reviews are invaluable.

As a manager of more than 15,000 apartment homes, Redwood understands that the foundation of all of this is the meaningful relationships between team members and residents.

Get to know some of our Redwood ambassadors as they reflect on the significance of resident appreciation and how it is reinforced through ongoing expressions of gratitude.

Three times throughout the year, Redwood celebrates its residents with Resident Appreciation Months. What do those months look like for your neighborhood(s)?

We provide our residents with a token of appreciation at Valentine’s Day, Fourth of July and Thanksgiving. The corporate team at Redwood will send us small gifts to put together to deliver directly to their doors. We take this opportunity to remind residents how much we appreciate them for choosing Redwood as their place to call home. Some past examples of gifts include tote bags at Thanksgiving and Redwood engraved grilling spatulas for Fourth of July.
- Haleigh Montz – Neighborhood Manager (Redwood Batavia Tealtown Rd.)

Redwood provides a framework for the gift and a timeline for when the gift should be delivered, but our teams are also able to add their own flair before delivery. The teams really enjoy picking out additional items that they feel would be appreciated by their residents, and they even work with nearby, local vendors to add even more goodies, coupons, etc.! The teams work together to pass out the gifts to each door, often dressing up or decorating their golf carts to celebrate the occasion.
- Melissa Schneider – Regional Manager

Resident Appreciation Months are so important to our entire team! It is an opportunity to show our residents how much they mean to us while providing a meaningful way to connect with them during visits in our office or in their homes.
- Sara Dunn – Regional Manager

Our team always adds an additional personal touch to our gifts. We love to include chocolates or other treats. The residents often call to thank us or stop into the office to say how much they love the gifts. We have even had current residents stop and talk with prospective residents to encourage them to move in while bragging about how special we make them feel!
- Karol Edwards – Neighborhood Manager I (Redwood North Canton) & Aarika Thornberry – Regional Manager

What have been some of your favorite Resident Appreciation Month events, giveaways, etc.?

My favorite resident appreciation events are the ones that the onsite teams organize. These tend to be the most personal and appreciated by residents. For example, passing out treat bags for Halloween or taking around waters and drinks on the golf cart on a hot day in July. When the residents can get out in the neighborhood and receive a gift/gesture directly from the onsite team, it matters.
-Haleigh Montz – Neighborhood Manager (Redwood Batavia Tealtown Rd.)

Personally, I loved the little toiletry bags we gave out.
- Malissa Peruzzi - Neighborhood Manager II (Redwood Macomb)

One year we did car washes for a neighborhood that just came out of construction to thank our residents for dealing with our mess!
-Melissa Schneider – Regional Manager

The Valentine’s Day event where we gave out aprons that said “The Secret Ingredient is Love” was a huge hit. I thought the idea was very fun, and the teams expanded on it by providing extra goodies during the delivery.
- Sara Dunn – Regional Manager

One of our favorite resident appreciation gifts was a Redwood oven mitt – we tucked in a cookie-making kit with a spatula. Another time we passed out a Redwood grilling tool with a can of Dr. Pepper and a pre-printed recipe card for Dr. Pepper Barbeque Sauce.
- Karol Edwards – Neighborhood Manager I (Redwood North Canton) & Aarika Thornberry – Regional Manager

Redwood created a unique tradition, where each year the company surprises and delights three residents with a trip to the Redwood Forest. Can you share some details about the most recent recipients, and how you surprised them with the news?

We had the best time celebrating three lucky residents with a once-in-a-lifetime trip and experience to the Redwood Forest! First, we started with a group of local Redwood employees who visited the Redwood Neighborhood of each winner. It was a joyous occasion as we got ready to walk to their home with a giant, custom-made sign that was personalized with the winner’s name, along with flowers and balloons! We were fortunate to catch all three winners at home as we surprised them with the news. Celebrating and taking photos with the winners are some of the best days we have at Redwood. We are fortunate to have such amazing residents and our Redwood Forest Giveaway is an incredible opportunity to celebrate them.

-Aimee Rainwater, Director of Property Operations

Outside of Resident Appreciation Months, what other events, activities, and even small gestures and special touches do you do to help keep the spirit of resident appreciation alive all year?

We host quarterly events in our office – some examples include Wine Wednesday, taco bars, cookie decorating, and just recently a sip-and-paint event.
-Malissa Peruzzi - Neighborhood Manager II (Redwood Macomb)

We provide a move-in gift that includes move-in day essentials and a housewarming gift, such as wine, coffee, a houseplant, or something for their pet! We often add additional items from local vendors so they can discover some of those hidden gems in the surrounding area. We have also hosted free food truck events, cookouts, wine and canvas parties, and even a car detailing day! We have swag closets at my neighborhoods and love passing out new items to our residents when we see them out in the neighborhood. Even at move-out we provide a thank you card and Starbucks gift card to wish them well on their next adventure and thank them for choosing Redwood.
- Melissa Schneider – Regional Manager

During one of our snowstorms, we boxed up snowman cookies with a note saying, “We’re snow glad you are a Redwood resident!” and delivered to each door. We also had a “Find the Leprechaun” contest where residents followed clues to find the hidden leprechaun on the property. They sent in daily photos via email or text for a chance to win an Alexa Echo. But I think our most successful and appreciated event was our movie night behind the office. We set up a large movie screen to show Hocus Pocus, had everyone bring a chair, and offered warm blankets, hot cocoa, cider, donuts, popcorn and candy. We had most of the neighborhood attend which was a true feeling of “community!”
-Karol Edwards – Neighborhood Manager I (Redwood North Canton) & Aarika Thornberry – Regional Manager

In the summer we host a few different resident events. A unique one from last year was a boutique truck – residents loved it and had so much fun shopping. At Halloween, our team dressed up and had a little Halloween party and passed out candy. The residents got such a kick out of our Chick-fil-A costumes!
-Jessica Juric – Neighborhood Manager III (Redwood Canal Winchester)

Why is it so critical to show residents just how much you care?

We want every resident to feel like they are home and with family. Giving them nice gifts is one way of showing how we care, but also just calling residents or talking to them out in the neighborhood goes a long way. Redwood Core Value No. 6 (install family and team spirit) is not just for employees – it is something we should be trying to do with everyone. Residents at my neighborhood are part of my Redwood family and team.
-Malissa Peruzzi - Neighborhood Manager II (Redwood Macomb)

We understand that our residents have many choices when it comes to where they choose to call home, and we feel that our level of care sets us apart from the pack. When our residents have issues/questions/problems, we feel it is easier to discuss and work through solutions when we have that established relationship and rapport with each other. We truly see our residents as our “neighbors” and want to help enrich their lives and experience.
- Melissa Schneider – Regional Manager

It is so important to show residents how great of a team we have and how all of us are willing to go the extra mile. They truly appreciate our hospitality, which starts right away at their tour or prospective phone call, all the way through their move-in. We really try to make every resident feel at home, and we try to accommodate their needs to the best of our abilities.
- Jessica Juric – Neighborhood Manager III (Redwood Canal Winchester)

Our residents are the sole reason that we are here. There are many housing options, and we want them to know how much we enjoy having them call their Redwood Neighborhood home.
- Sara Dunn – Regional Manager

Is there anything else you would like to add?

In my eight years of property management, I can honestly say Redwood is one-of-a-kind. No other property management company treats their residents and employees like Redwood does. Redwood is a company with strong core values, and we truly cherish our residents.
- Haleigh Montz – Neighborhood Manager (Redwood Batavia Tealtown Rd.)

We always maintain positivity, understanding and support for our residents, who know we have an “open door” policy in our office, so they feel welcome to vent, ask questions, or just pop in to say hello.
- Karol Edwards – Neighborhood Manager I (Redwood North Canton) & Aarika Thornberry – Regional Manager

I think the best thing is to come in to work every day with a positive attitude. To always make every interaction with a prospect, applicant, and/or resident a positive experience, regardless of the situation. We always want them to know that no matter what else we have going on, we make them the priority. I think our residents can really feel that.
- Jessica Juric – Neighborhood Manager III (Redwood Canal Winchester)

To learn more about Redwood Neighborhoods, the resident experience or find out about investment opportunities with Redwood, reach out to a member of our team at 216.360.9441 or by filling out a contact form .

Redwood Kicks off 2023 with a Strong Media Presence Across BTR Markets

Thu, 13 Apr 2023 18:31:32 GMT

As a build-to-rent developer and property management company, Redwood Living, Inc. (Redwood) has had a strong first quarter in 2023. Efforts to secure land for new neighborhoods, close deals, build efficiently and open new Redwood Neighborhoods across the Midwest and Carolinas are moving along nicely, and the media is paying attention.

Read all about where Redwood is expanding, and why residents are choosing to rent Redwood apartment homes:

Newswire: Redwood announces portfolio milestone: 15,000 apt homes
The Times of Northwest Indiana: Rental housing development proposed in Hobart
GlobeSt.com: BTR Tenants Want an Experience, Not a Clubhouse
Dayton Daily News: UPDATE: Change for apartments at 19th century farmhouse site gains initial approval
Yahoo News: UPDATE: Change for apartments at 19th century farmhouse site gains initial approval
Northwest Herald: Why developers are taking a cautious approach to new McHenry County housing
Daily Herald: Why developers are taking a cautious approach to new McHenry County Housing
Columbus Business First: Redwood proposes 280-unit apartment complex at Addison Farms development in Delaware
Holland Sentinel: More than 250 units of workforce housing coming to Holland Township
Newswire: Redwood Living, Inc. expands across Charlotte with three new apartment neighborhoods
Charlotte Business Journal: Redwood Living grows local portfolio with apartment projects in Charlotte, Kannapolis and Troutman
Dayton Daily News: Vote expected on rezoning of 19th century farmhouse land for apartments
Independent Tribune: Friday Five: An outstanding student, theater and more apartments
Dayton Daily News: Riverside, developer plan apartments to replace 200-year-old farmhouse
Daily Journal: Redwood Living proposes 156 single-story apartments in Franklin
Charlotte Business Journal: Apartment developer Redwood Living acquires Catawba County site for $1.4M
Dayton Daily News: New apartment development in Vandalia opening
Yahoo News: Steady stream of multifamily developments continues into new year
Daily Journal: Redwood Living approved for rezone enabling 156 apartments in Franklin

Redwood’s signature build-to-rent strategy is distinctive in the industry and differentiates us from the typical real estate investment. Where many developers build a rental property and sell it, Redwood has no interest in selling Redwood-managed neighborhoods. From start to finish, we use the skills of our capable, professional in-house staff to drive projects to close and construct efficiently while paying attention to the details that make each Redwood Neighborhood a great place to live. And when we’re done with the development phase, we don’t go anywhere. Our commitment to excellence includes the way we maintain and manage our neighborhoods. We ensure our Redwood residents can enjoy the advantages of living in a high-quality home for as long as they’d like.

Are you interested in finding out more about Redwood’s unique multifamily investment opportunities? Our dedicated Investor Relations team is happy to talk through current and upcoming deals, deal structures and how investors can benefit from partnering with Redwood! Fill out a contact form or call 216.360.9441 to get started.

Opening soon: Redwood Living, Inc. celebrates new Chardon neighborhood

Mon, 27 Mar 2023 19:12:38 GMT

Redwood is coming to Chardon, Ohio, and potential residents are excited.

This May, Redwood Living, Inc. will welcome the first residents to its newest east-side suburban neighborhood of single-story apartments – Redwood Chardon .

This approximately 20-acre neighborhood is located near the corner of Route 44 (Center Street) and 7th Avenue. It features 91 single-story apartment homes ranging in size from 1,294-1,381 square feet. Monthly rent will start at $1,600.

“Ever since we started construction, we’ve received incredible interest from the Chardon community for Redwood’s first neighborhood in Geauga County,” said Kevin Kwiatkowski, EVP of Acquisitions and Construction. “Currently the neighborhood is 22% leased, with no signs of slowing down. This is tremendous validation that residents are looking for the kind of lifestyle that comes with living in one of Redwood’s signature single-story apartment homes—one that prioritizes comfort, convenience and flexible accommodations.”

Each of the three floor plans available at Redwood Chardon will include two bedrooms and two bathrooms, along with a two-car attached garage complete with ample storage. Other enhanced amenities include:

Spacious eat-in kitchens with large pantries
Vaulted ceilings
Full-size appliances
Washer and dryer hookups
Large closets
Upgraded finishes and fixtures
Extra living space, commonly used for an at-home office or gym
Personal patios
Pet-friendly accommodations – residents are permitted up to three pets

Redwood Chardon is located at 155 7th Avenue. The neighborhood will offer easy access to I-90, nearby retail, the Maple Highlands Trail, and downtown Chardon. Until the opening, interested residents can take a tour at Redwood’s other Northeast Ohio neighborhoods that offer self-guided tours.

Redwood has developed and manages 15,000+ apartment homes in more than 120 neighborhoods throughout the Midwest and Carolinas. For information about upcoming projects and how to get involved, contact our team !

Why Residents are Choosing to Rent vs Buy in Today’s Housing Market

Tue, 07 Mar 2023 19:39:54 GMT

People looking to move are asking the age-old question: is it better to rent or buy their next home?

Residents weigh a multitude of factors when deciding whether to rent or buy their home. In addition to lifestyle and personal needs, current economic conditions such as rising interest rates, persistent inflation and housing market shortages are making the decision even more complex.

For many, homeownership might be the ultimate goal, but maybe it’s not the best fit for today. Below are just a few reasons why people are leaning toward rental life instead of homeownership.

They are carefully considering their costs

In this inflationary environment, many people are debating the economics of buying a home or leasing an apartment. According to Bankrate , as of March 1, the current average 30-year fixed-mortgage rate is hovering around 7%. If someone buys a $250,000 home with a $50,000 down payment with a 30-year fixed mortgage rate of 7.4%, the mortgage payment will be comparable to an all-inclusive rent payment – but also require other financial considerations such as taxes, insurance and maintenance.

Of course, everyone’s financial picture is different and there are many variables in this equation, but there are some common costs that people are comparing.

Upfront costs when buying a home will include the down payment, inspection, closing costs and any necessary repairs at move-in. Renters are typically only required to pay processing and application fees along with a security deposit.
Monthly costs for both homeowners and renters will include either their mortgage or rent, water, gas, electric, insurance and sewer/trash. Homeowners will additionally be strapped with property taxes and property maintenance costs, and will likely pay more for insurance than renters .
When selling a house, homeowners might get hit with a prepayment penalty on their loan, title search/notary/escrow fees, a mortgage balance payoff, real estate agent commissions, closing costs/credits to the buyer, transfer tax, capital gains tax and a home warranty. Renters, on the other hand, will typically just pay for any damages to their unit and a potential buy-out fee if they are moving out before their lease is up.

They want to leave maintenance behind

As a homeowner, there is no denying that the list of home maintenance duties and repair projects can feel never-ending. Just a few of the indoor headaches include plumbing problems, faulty HVAC systems, replacing air filters, maintaining appliances and pest extermination. The list continues outdoors with landscaping, snow removal, window washing, roof repairs, gutter cleaning and more.

For renters, these worries are things of the past. All they need to do is start a work order and let the professionals do the rest. Plus, there is some peace of mind knowing that having on-site property management and maintenance teams means emergency requests can often be addressed within 24 hours.

They’re benefiting from flexible lease terms

Homeownership means commitment – to the location, the mortgage and of course, the house itself. Sometimes life calls for something more flexible. Maybe someone needs short-term accommodations while building a home. Or perhaps an empty nester is trying to balance home life and extended travel plans. Whatever the reason, apartment living will not lock anyone into a long-term arrangement – unless that’s the preference. Oftentimes the freedom that comes with renting will inspire a resident to turn their apartment into their forever home.

They’re discovering nontraditional rental options

Apartment living does not always mean multi-floor buildings with noisy neighbors, dimly lit hallways, broken down elevators and inconvenient parking. Residents looking to rent an apartment without sacrificing the comfort of a single-family home are finding more options than ever before.

For example, living in a Redwood Neighborhood means that all apartment homes are single-story with two bedrooms and two bathrooms, attached garages, private entrances, personal patios, eat-in kitchens, vaulted ceilings, large closets, pet-friendly accommodations and many other advantages that make every square inch feel more like home.

For multifamily investors, this type of “horizontal apartment” is an attractive asset, because despite all the variables that can change with the market, this style of housing will often appeal to people that are transitioning from homeownership, those bridging the gap between homes, or those that want to buy but are simply not ready.

To learn more about investing with Redwood, call 216.360.9441 or fill out a contact form .

In the Know: How Depreciation Can Be an Advantage in Real Estate Investing

Tue, 28 Feb 2023 15:00:06 GMT

In real estate investing, depreciation can be an advantage.

Often when people think of depreciation, it has a negative connotation: Buy a vehicle, drive it off the lot and it nearly instantly depreciates. Try selling it a short time later, and the resale price likely is less than what it was bought for and less than what might be owed on a car loan.

But while that sort of depreciation can be viewed as a loss, or a negative, the tax and accounting rules related to the allocation of depreciation for property can be a benefit in certain circumstances.

As an asset, the right real estate investment may increase over time. The value of the land involved, for instance, may go up in certain markets. An apartment building with good occupancy and good rental rates, for example, has the potential to sell or refinance for more than the cost to build or buy it.

But along the way, while an owner builds equity in the building and the actual value that would be realized in a sale or refinance might increase, the tax rules allow the owner of tangible personal property (e.g., buildings, furniture, equipment, etc., but not land) to depreciate certain costs of the property. The tax rules are based on the concept that everything from the roof to the appliances to the bathroom fixtures will wear out over time.

That depreciation may become a tax deduction when tax time arrives. So, real estate investors in an entity that has elected pass through taxation can benefit from an investment in an asset that may increase in value over the long-term, distribute income from rental activities, and at the same time, receive an allocation of depreciation of the investment’s property, which an investor may be able to use a deduction.

The combination of potential long-term asset growth, projected income and possible tax benefits is a strategy sought-after by many savvy investors.

Of course, not all real estate investment opportunities are equal. While tax rules permit the depreciation of certain costs, it is important that the property is well maintained and managed to achieve projected revenue and value. That is why it is still important to invest with a real estate partner with a record of portfolio growth and high-quality asset management. Real estate built and maintained in neighborhoods with favorable demographics, managed by professionals with first-class customer service, tends to perform well for investors regardless of other market conditions.

The Redwood Equity Program is now offering an increased allocation of depreciation to qualifying investors. Following extensive analysis, a modified operating agreement will be used for future Redwood projects, starting with Redwood Holt Phase III. The modified operating agreement provides for a greater allocation of any depreciation on the project cost to the investors than was allocated on prior Redwood investments.

The increased allocation of depreciation will only impact future Redwood projects.

Redwood’s solid track record as a developer, builder and manager of remarkable single-story apartment homes has produced strong participation in the Redwood Equity Program. Its emphasis on site selection, intentional design and resident retention makes Redwood Neighborhoods an outstanding addition to investment portfolios. And now, qualifying investors will enjoy a great benefit – an increased allocation of potential depreciation – adding one more significant reason to consider a Redwood investment.

To learn more about investing with Redwood, call 216.360.9441 or fill out a contact form .

Neither the information contained in this article or any other communication from Redwood should be construed by the recipient as legal or tax advice. Each prospective investor in a Redwood project should consult its own legal and tax advisors to ascertain the merits and risks of such investment prior to investing. Tax laws and treasury regulations limit the ability of investors to utilize losses and deductions that may arise from a pass-through entity’s activities (e.g., if the investment entity’s activities constitute a passive activity for purposes of the passive activity rules, an investor would not be able to utilize the deductions from an investor’s non-passive sources of income).

The material contained this article is solely for informational purposes and is not to be used or considered as an offer, invitation, solicitation, advice or recommendation to a potential investor with respect to any securities. Investment opportunities in a to-be-built apartment neighborhood are speculative, illiquid and involve a high degree of risk, and are suitable only for sophisticated and qualified investors that are verified as “accredited investors.” Certain statements in this article constitute "forward-looking statements" within the meaning of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended. Past performance is not indicative of future results. You should not invest unless you can sustain the risk of loss of capital, including the risk of total loss of capital.

Now open: New single-story apartments in Delta Township, Michigan

Mon, 27 Feb 2023 19:10:25 GMT

Residents are now moving into a brand-new neighborhood of single-story apartments in central Michigan.

As the fourth Redwood Neighborhood in central Michigan, Redwood Delta Township Willow Highway will feature 87 apartment homes available in six different floor plans.

Each apartment home includes two bedrooms and two bathrooms. Unlike traditional apartment complexes, Redwood’s signature design includes single-story open floor plans, attached two-car garages and private entrances with individual street addresses.

Apartment homes at Redwood Delta Township Willow Highway will range from 1,294 to 1,620 square feet and monthly rent will start at $1,799.

“Residents will enjoy the neighborhood’s picturesque surroundings, convenient highway access and close proximity to shopping, dining and entertainment,” said Aimee Rainwater, Director of Property Operations at Redwood. “We recognize that every resident has varying lifestyle needs, so we do our best to offer plenty of options and flexible accommodations throughout their entire journey as a Redwood resident.”

Amenities That Feel Like Home

Every apartment at Redwood Delta Township Willow Highway features a spacious eat-in kitchen with a large pantry, vaulted ceilings, and bonus living space that can be utilized for an office, home gym, or whatever best suits residents’ needs.

Additional amenities include:

Personal patios
Full-size appliances
Washer and dryer hookups
Large closets
Upgraded finishes and features
Pet-friendly accommodations – residents are permitted up to three pets

Redwood Delta Township Willow Highway is located at 7877 Celosia Dr, near the corner of Willow Highway and Canal Street.

Redwood has developed and manages 15,000 apartment homes in more than 120 neighborhoods throughout the Midwest and Carolinas, with more on the way across the portfolio. Interested in becoming an equity partner for an upcoming deal? Contact our dedicated Investor Relations team or call (216) 360-9441 today!

Redwood Living, Inc. expands across Charlotte with three new apartment neighborhoods

Mon, 13 Feb 2023 19:16:54 GMT

Significant Expansion is on the Horizon for Redwood Apartment Neighborhoods in Charlotte, NC

Ohio-based developer and manager of single-story apartment homes, Redwood Living, Inc. , is significantly expanding in Charlotte, adding 268 apartments in three neighborhoods across the region.

“Unlike traditional apartment complexes, no one lives above or below you in a Redwood home. Our signature design offers residents single-story floor plans with two bedrooms, two bathrooms, and a two-car attached garage,” said Steve Kimmelman, CEO of Redwood. “Since first entering the market in 2018, it’s been clear that people in Charlotte and its surrounding areas desire Redwood’s business model for apartment home living.”

Renters continue to flock to Redwood’s neighborhoods because they offer the amenities residents desire: spacious eat-in kitchens with large pantries, open floor plans, large closets, washer and dryer hookups, full-size appliances, and vaulted ceilings. Plus, Redwood’s teams take care of home maintenance and lawn care, allowing residents to focus on what matters, enjoying life.

Each floor plan includes an individual street address, private entrance, a flexible den space for use however residents desire (often an office, workout area, or craft space), and the ability to have up to three pets—a rarity in the apartment rental space.

“Residents love the lifestyle of living in a Redwood Neighborhood, and we are thrilled to bring that experience to three more communities near Charlotte this year.”

Redwood’s three new area neighborhoods include:

Redwood Charlotte Harris Houston Road

Location : 5110 Red Alder Lane
This neighborhood is adjacent to the University of North Carolina campus and is located 16 miles from Downtown Charlotte. Residents will enjoy convenient access to some of Charlotte’s best commercial and entertainment destinations, including Concord Mills, PNC Music Pavilion, Charlotte Motor Speedway and several parks and golf courses.
Property acreage : 20
Number of apartments : 73
Number of floor plans : 5
Square footage range : 1,294-1,709
Monthly rent : $1,999-$2,499
Timing : the first residents are expected to move in by April 2023
Neighborhood contact : (844) 954-4754 // Charlotte2@byRedwood.com

Redwood Kannapolis Parkway

Location : 5476 Milestone Avenue
Ideally situated within minutes of Oak Avenue Mall, Vietnam Veterans Park and Frank Liske Park, along with the region’s picturesque running and biking trails. Commuters will enjoy convenient access to downtown via Interstate 85 or Amtrak.
Property acreage : 37
Number of apartments : 99 (phase one)
Number of floor plans : 7
Square footage range : 1,294-1,709
Monthly rent : $1,999-$2,499
Timing : the first residents are expected to move in during February. Timing for phase two (60 apartments) will be announced separately.
Neighborhood contact : (855) 980-5862 // Kannapolis@byRedwood.com

Redwood Troutman

Location : 145 Macel Drive
Located within close proximity to recreational offerings such as Alex Cooper Park, Lake Norman State Park and Kids@Play, along with several retail destinations.
Property acreage : 20
Number of apartments : 96
Number of floor plans : 6
Square footage range : 1,294-1,709
Monthly rent : $1,674-$2,174
Timing : the first residents are expected to move in by April 2023

Neighborhood contact : (844) 917-0621 // Troutman@byRedwood.com

Redwood has developed and manages 15,000 apartment homes in more than 120 neighborhoods throughout the Midwest and Carolinas, with more under construction each day. For information about upcoming projects and how to get involved, contact our team !

22 Reasons Redwood is Celebrating 2022

Mon, 23 Jan 2023 20:45:28 GMT

From new neighborhoods and new states, to hundreds of new names on the team, Redwood Living, Inc. made the most of 2022 in many ways.

“Redwood has many reasons to look forward with excitement and optimism, but equally as important, we reflect back on a year that brought remarkable growth, opportunity and success to our organization,” said Steve Kimmelman, CEO of Redwood. “Thanks to the talent and determination of our entire team, along with the partnership of our residents, investors, vendors and many others, Redwood continues to deliver on our commitment of bringing best-in-class rental housing to suburbs throughout America.”

Below are 22 highlights that Redwood celebrated at the close of 2022.

1. Ambassador additions

Throughout 2022, Redwood welcomed more than 250 new team members, bringing the total staff count to more than 600. And it’s not stopping there – many opportunities and available positions are ready to be filled across the states Redwood operates in during 2023.

2. New national recognition

Redwood earned a place on the prestigious 2022 Best Workplaces in Real Estate™ list. Compiled by Fortune and Great Place to Work®, securing a spot on this list means that Redwood is one of the best companies to work for in the country.

3. Achieving Great Place to Work® Certification™

For a fifth consecutive year, Redwood has been certified as a Great Place to Work®. Great Place to Work® Certification™ is the only recognition based entirely on what employees report about their workplace experience – specifically, how consistently they experience a high-trust workplace. According to survey results , 90 percent of employees at Redwood say it is a great place to work, compared with 57 percent of employees at a typical U.S.-based company.

4. Earning a local Top Workplaces 2022 honor

Redwood was awarded a Top Workplaces 2022 honor by Cleveland.com and The Plain Dealer Top Workplaces. The program aims to offer data to engage employees, showcase standout culture, and attract and maintain top talent at organizations in Cleveland and surrounding communities. The 2022 list ranked 220 companies, nonprofits, schools and other employers in large, mid-size and small categories.

5. A special month for Redwood Ambassadors

Redwood dedicated an entire month of 2022 to employee appreciation. Ambassadors enjoyed team-gathering events and special treats, such as extra paid time off.

6. A day for mental health

Work-life balance, access to mental health resources, and the knowledge that a company emphasizes mental health fosters a work culture that is beneficial for all. Redwood offices closed in observance of World Mental Health Day on October 10, allowing team members to pause, recharge and engage in their own meaningful activities.

7. Appreciation & award events

After two years of virtual celebrating, the Redwood team was able to reunite in person once again for its annual awards ceremony in downtown Cleveland. Redwood also gathered with its investor partners for a night of appreciation during the annual investor gala.

8. Launching the Redwood Equity Program

In March 2022, Redwood changed its offering approach to Rule 506C, allowing the company to take investments from verified accredited investors. The Redwood Equity Program is a vehicle to enable accredited investors to participate as partners in the funding of new Redwood Apartment Neighborhood developments. With Redwood’s model, investors can benefit from a more predictable investment and income stream, allowing them to preserve capital while investing in multifamily projects. Plus, investing in a high-growth asset class with an organization that has over 30 years of experience perfecting the development process can bring peace of mind in today’s volatile market.

9. Welcoming new neighborhoods

During 2022, Redwood opened ten new neighborhoods throughout major metro areas of Ohio, Michigan, North Carolina, Iowa and Illinois. Land has also been secured to build potential new neighborhoods and expand existing neighborhoods in over 20 locations.

10. An expansion to Illinois

Residents are now moving into Redwood’s first neighborhood in Illinois – Redwood Lockport. The company has the potential to add as many as 3,000 apartment homes across Chicagoland over the next five years. Construction will progress on neighborhoods in Oswego and Volo next.

11. A ninth state to the portfolio

Redwood will welcome residents to its first neighborhood in Nebraska next summer as part of a broader expansion in the state. Currently, Redwood has plans for five neighborhoods in Omaha and its surrounding suburbs. The company is eyeing additional opportunities in the market, along with sites in Lincoln and Council Bluffs, Iowa, over the next several years.

12. Expanding existing neighborhoods

Five Redwood Neighborhoods expanded this year, which added apartment homes throughout major metro areas of Ohio and Michigan – more specifically, Redwood’s Avon Lake, Fairborn, Holt, Southgate and Texas Township locations.

13. Reaching 15,000 apartment homes

Thanks to all the additions in new and existing neighborhoods, Redwood added 1,338 new apartment homes, which pushes the total number of apartments to 15,000 in the portfolio .

14. Ranking for Best Apartments in Fort Wayne

The Redwood teams in the greater Fort Wayne area celebrated a second-place finish in the Best Apartments category for the 2022 Fort Wayne Newspapers Readers’ Choice Awards . This distinction reflects the outstanding service the teams provide residents each and every day.

15. Excellence in construction

Redwood strives for innovation in the building process and was recognized for those efforts in 2022. The company received a Gold Level award for Excellence in Construction by the Associated Builders and Contractors organization for construction of Redwood Copley.

16. Year-round resident appreciation

Three times throughout 2022, Redwood held Resident Appreciation Months, gifting residents everything from branded keepsakes like aprons, oven mitts and travel bags, to discounts on products and services from partners that support nonprofits that align with Redwood’s philanthropic priorities. In addition, three residents will win a trip to the Redwood Forest – winners announced in January! Also, throughout the year many neighborhoods hosted special events for residents, such as craft nights, wine and cheese parties and food truck visits.

17. More opportunities to save via the Redwood Perks Program

Redwood residents and employees now all have access to exclusive discounts on everything from home décor and household products to travel gear, pet supplies, fitness equipment and much more, thanks to the Redwood Perks Program. This curated discount program is just another way Redwood helps to enhance and elevate the lives of its residents and team members.

18. Award-winning reputation management

Online reputation is a critical component to everything from attracting and retaining residents to recruiting new employees. For the second consecutive year, Redwood placed in the top 10 nationally for reputation management in the annual Division ORA® Power Rankings . Redwood earned an ORA score of 83.10, ranking the company fifth in Division III.

19. Rave reviews on Google

Redwood is proud to have achieved an average 4.7 rating on Google across the portfolio – the industry average is 3.8. For the 117 active neighborhoods online, an impressive 3,100 Google reviews were added this year.

20. A new way to care for Redwood’s communities

A new approach to giving resulted in $45,000 in initial contributions in 2022 to the communities that Redwood serves. Redwood Cares, the company’s progressive new philanthropic initiative, allows Redwood employees, residents and investors to nominate a verified 501(c)(3) organization for Redwood to support in the form of volunteer time, promotion and monetary donations. Here’s a closer look at the organizations supported by Redwood in 2022.

21. Giving back to local communities

Redwood Ambassadors consistently supported their communities across the country through everything from packing boxes at food banks to running in charity races, holding food and pet supply drives, cleaning up recreation trails and more. In fact, the Redwood Columbus team was recognized and awarded the “Holiday Helper Spirit Award” in 2022 by LifeCare Alliance. Through this volunteer partnership, Redwood team members helped Meals on Wheels with delivery and packaging meals for those in need in Central Ohio.

22. 6,508 trees planted

The company is proud to partner with One Tree Planted, an environmental nonprofit, by donating $1 on behalf of each new Redwood employee, resident and investor to plant a tree in an area in need of reforestation. In 2022, Redwood is proud to announce 6,508 trees were planted thanks to these efforts, which included 6,083 on behalf of new residents, 266 employees and 159 investors.

Looking ahead to 2023, Redwood’s plans call for continued growth and expansion, with the addition of new apartment homes in existing and new suburban markets. Residents in Columbus, Dayton, northern Kentucky, Charlotte, western Michigan, Northeast Ohio, Chicago and Omaha should all be on the lookout for new Redwood apartments next year.

“Redwood enters 2023 from a position of strength, thanks to strategic planning, sound investments and most importantly, the talent that our team members bring to our organization,” Kimmelman said. “We have much to celebrate but even more to aspire to this year and beyond.”

Remarkable Growth in All Markets

Redwood is growing across its portfolio, with new neighborhoods in nearly every market in eight states currently. With more growth on the horizon in Nebraska and across current markets, now is an excellent time to consider an equity investment in the next Redwood project. Find out more information about this process, how investors can benefit, and next steps by contacting our dedicated Investor Relations team .

Making Headlines: New Redwood Portage, Michigan neighborhood opening soon

Fri, 20 Jan 2023 20:24:26 GMT

Redwood is proud to announce its newest Michigan neighborhood.

In March, Redwood Living, Inc. will welcome the first residents to its newest neighborhood in Michigan – Redwood Portage .

Featuring 109 single-story apartments ranging in size from 1,294-1,709 square feet, Redwood Portage will span 18.5 acres at Lovers Lane and Centre, next to Celery Flats Historical Area.

Each of the eight floor plans available at Redwood Portage will include two bedrooms and two bathrooms, along with a two-car attached garage complete with ample storage. Monthly rent will start at $1,849.

“2023 marks Redwood’s 10th year of development in Michigan, and we are thrilled to welcome our 28th neighborhood in the state to Portage,” said Mike VanGelder, executive vice president of property operations at Redwood. “Throughout the last decade, residents have embraced the brand and appreciate all the touches that make Redwood apartments feel more like home.”

Portage residents will soon have access to the signature benefits that come with living in a Redwood Neighborhood, including:

Spacious, eat-in kitchens with large pantries and extra storage space
Open floor plans
Large closets
Washer and dryer hookups
Full-size appliances
Vaulted ceilings
Upgraded finishes and features
Pet-friendly accommodations
Personal patios
Green-centric neighborhood settings
Bonus space that can utilized based on lifestyle needs, such as a home office or personal gym

Redwood Portage is located at 1201 Snowapple Avenue. During construction, interested residents can book a tour at Redwood’s nearby neighborhood – Redwood Texas Township.

Remarkable Growth in All Markets

Redwood Living, Inc. announces portfolio milestone: 15,000 apartment homes

Tue, 03 Jan 2023 22:21:13 GMT

Ohio-based developer and manager of single-story apartment homes, Redwood Living, Inc ., announces significant growth for its portfolio – the company has now developed and manages a total of 15,000 apartment homes.

“Each time we open a Redwood Neighborhood is a celebration, and the significance of each and every one is never lost on me or our team,” said Steve Kimmelman, CEO of Redwood. “But today we look at the bigger picture and take pride in this remarkable milestone for our brand. After more than 20 years of development we have stayed incredibly true to our mission and to the consistency and quality of our product and service. It’s that level of commitment that got us to 15,000 and it will continue to carry us well into the future.”

Redwood reached the 15,000-unit mark at the close of 2022 thanks to remarkable growth and expansion throughout the year. Here is a look at the most recent additions that contributed to this milestone:

Ohio

Redwood Avon Lake: Phase II expansion

Redwood Batavia Tealtown Road: New neighborhood
Redwood Copley Heritage Woods Drive: New neighborhood
Redwood Fairborn: Phase III expansion

Redwood Kent Tallmadge Road: New neighborhood
Redwood Marysville SR 4: New neighborhood
Redwood Medina Lafayette Township: New neighborhood

Michigan

Redwood Holt: Phase II expansion

Redwood Rochester Hills: New neighborhood

Redwood Southgate Allen Road: Phase II expansion

Redwood Texas Township: Phase II expansion

North Carolina

Redwood Charlotte Ridge Road: New neighborhood

Redwood Monroe: New neighborhood

Iowa

Redwood Waukee Hickman Road: New neighborhood

Illinois

Redwood Lockport: New neighborhood

Spanning eight states, including Ohio, Michigan, Indiana, Illinois, Kentucky, Iowa, North Carolina and South Carolina, rental homes by Redwood include the brand’s signature single-story layout, two bedrooms, two bathrooms and attached garages. Residents also enjoy that their apartment home comes with its own private entrance and dedicated street address.

Some additional amenities and Redwood Advantages that make a Redwood apartment feel like home, include spacious eat-in kitchens, large pantries, open floor plans, large closets, washer and dryer hookups, vaulted ceilings, personal patios, pet-friendly accommodations, bonus living space and much more.

Redwood recently announced expansion into its ninth state (Nebraska) and is currently under construction with the first Redwood Neighborhood in the greater Omaha area. Looking ahead to 2023, Redwood’s plans call for continued growth, with the addition of new apartment homes in existing and new suburban markets.

Interested in an investment into one of our upcoming projects? Contact our team to get started.

What’s On Our Minds: Recapping Opal Group’s Family Office & Private Wealth Forum West

Thu, 17 Nov 2022 17:05:36 GMT

Q&A with Toney Morton, Chief Financial Officer at Redwood Living, Inc.

Redwood’s investor relations team took part in the 2022 Opal Financial Group Annual Family Office & Private Wealth Management Forum West. The conference brought investment managers, private wealth professionals and families together to discuss the foundations in which they built their wealth and the various investment strategies that are keeping portfolios growing and plentiful.

Among those who both attended and participated in the conference as a panelist, Redwood’s Chief Financial Officer, Toney Morton, shares his views from the event.

Q: As an attendee of the Family Office & Private Wealth Management Forum West, what were your top three takeaways from the conference?

Each family office is truly unique, and each has its own set of values, goals, and aspirations. Like other business or charity organizations: i) governance, ii) legacy planning, and iii) mission of each family office should be identified and documented to avoid major disruptions.

Families are complicated and unique; adding investment, charitable, and business decisions to the mix can certainly add another layer of complexity!

Q: As one of the participants in the "Real Estate Investing: What are the Opportunities" panel, what key points are you hoping attendees took away from that discussion?

Not every real estate investment is the same, nor is every real estate sponsor comparable. In this unique economic environment, each real estate sponsor has its own set of issues or complications, in addition to opportunities.

With our long-term vision, we do our best not to overreact to the current conditions, while striving to be responsible stewards of capital on behalf of our investors and lenders. While all real estate sponsors want normal interest rates, Redwood can look past a current uptick in interest rates and focus on providing a solution for changing household formations and the lack of housing across the United States. The housing shortages are real, and the demographic trends support continued investment in our single-story apartment home neighborhoods.

Q: What kind of interest did you find from investors in multifamily real estate investing?

We found investor interest and helped raise awareness for the Redwood brand. There is certainly a barrier of entry to the family office realm. Often these offices have been investing or co-investing with other offices for years, if not decades, so getting in the door as a plausible new investment opportunity takes time.

I believe our mission aligns with the long-term view of most family offices, and our 30+ year-track record of success stands for itself. Long-term real estate ownership allows investors and family offices to benefit from depreciation, cash flow, and value creation into perpetuity, all while preserving and growing family wealth.

Q: Was there anything about the conference that surprised you?

Not necessarily surprised, but the real-life examples of certain family offices losing all or most of their wealth during the Great Recession were an unfortunate, but timely reminder of the governance necessitated within family offices.

Q: For those who have not attended this event but are considering going to a future conference, what would you tell them? How can they make the most out of the experience?

The Opal Group conference was well-organized, well-attended, and featured an array of timely and relevant topics for family offices. I highly recommend attendance and encourage all to take full advantage of the networking and learning opportunities available.

The Redwood Equity Program allows accredited investors to participate as partners in the funding of new Redwood Apartment Neighborhoods. If your family office is interested in learning more about investment opportunities with Redwood, call 216.360.9441 or fill out a contact form .

Redwood Living, Inc. Announces New Neighborhood in Obetz

Wed, 02 Nov 2022 19:47:51 GMT

Redwood is Excited to Bring More Single-Story Apartments to the Columbus Suburbs

Independence, Ohio – November 2, 2022 – Obetz, Ohio residents will soon have a new place to call home with the addition of Redwood Obetz by Independence, Ohio-based developer and manager of single-story apartment homes, Redwood Living, Inc .

Unlike traditional apartment complexes, Redwood’s signature design feels more like a single-family home, thanks to the single-story floor plans, attached garages and private entrances with dedicated street addresses.

Redwood Obetz is the company’s 14 ^th neighborhood in central Ohio. Upon completion, the neighborhood will include 156 single-story apartment homes. Phase one of Redwood Obetz will include 116 apartments, ranging in size from 1,294 to 1,620 square feet. The neighborhood’s second phase will include 40 additional apartment homes. The timing for phase two will be announced at a later date.

“Obetz is ideally situated in a region of tremendous growth thanks to companies like Amazon, Macy’s and Cardinal Health, yet the area is underserved in terms of rental options,” said Taylor Haley, Director of Property Operations at Redwood. “Redwood is excited to help change that with that addition of our newest neighborhood, one that offers residents the comforts of home, maintenance-free living plus pet-friendly accommodations.”

Why Residents Choose Redwood Obetz

Residents of Redwood Obetz can choose between five floor plans, each with two bedrooms and two bathrooms, along with a two-car attached garage and ample storage. Additional amenities include:

Spacious, eat-in kitchens with large pantries and extra storage space
Open floor plans
Large closets
Washer and dryer hookups
Full-size appliances
Vaulted ceilings
Upgraded finishes and features
Pet-friendly accommodations
Bonus space that can be utilized based on lifestyle needs
Green-centric neighborhood setting

Monthly rent will start at $1,899. While the neighborhood is under construction, interested residents can schedule a guided video tour or an in-person tour at any of Redwood’s other 13 central Ohio neighborhoods. They can also begin the pre-leasing process online .

Redwood Obetz is located at 3195 Sunflower Place at the corner of Groveport and Bixby Roads. Residents are expected to start moving in this December.

Remarkable Growth in All Markets

Redwood is growing across its portfolio, with new neighborhoods in nearly every market in eight states currently. With more growth on the horizon in Nebraska and Missouri, now is an excellent time to consider an equity investment in the next Redwood project. Find out more information about this process, how investors can benefit, and next steps by contacting our dedicated Investor Relations team .

In the Know: Finding the Right Real Estate Investment Approach in an Inflationary Environment

Fri, 28 Oct 2022 14:00:03 GMT

With the right approach, real estate investments can perform despite an inflationary environment.

Interest in real estate investing was already increasing before the recent historic rise in inflation – and it’s only growing stronger.

That’s understandable, given that historically, real estate has performed well in inflationary environments. Real estate investments also can help offset impacts of inflation, especially in the multifamily sector where rents often rise along with wages.

These factors are becoming apparent in today’s market, as well.

It’s key to remember that data also reveals certain property types perform better than others. For instance, apartment investments showed gains of .89 percent for every 1 percent increase in inflation between 1979 and 2021, according to an analysis by the Pension Real Estate Association .

That same study found an even greater relationship between property value and inflation. The value of apartment properties actually went up 1.06 percent for every 1 percent in inflation.

In addition to the inflationary impacts on the market, the U.S. is also experiencing a significant housing shortage and declining affordability.

The Wall Street Journal recently reported it’s the most unaffordable housing market in history. The most recent affordability index produced by the National Association of Realtors found buying a home today is the most unaffordable it’s been since 1989. It’s estimated 18 million households no longer can qualify for a mortgage because of higher rates.

Plus, there are still far fewer homes available than prospective buyers, despite challenges with affordability. The nonprofit Up for Growth estimates the U.S. is 3.8 million homes short of meeting housing needs.

Those factors have combined to create historic multifamily occupancy in many markets, as residents are choosing, or being compelled, to rent for longer than they typically might. Combine that with population influxes in some secondary, tertiary or smaller metro areas and it’s created among the most robust multifamily markets many communities have ever experienced.

That’s producing favorable returns for multifamily investors, who are seeing rents increase and occupancy swell.

Of course, it’s still key to work with a developer and property management team with an established record of success in markets that are strategically selected for long-term success.

Over the past 30 years, Redwood’s multifaceted development arm successfully completed over 133 development projects across eight states. This included overseeing the development, construction, debt placement, and leasing of the units up to stabilization with a 97 percent physical occupancy rate across the portfolio as of April, 2022.

A look at the Dow Jones Industrial Average finds its performance down to where it was at the end of 2020, while the S&P has fallen 9 percent this September alone . In contrast, Redwood’s portfolio is averaging a 10 percent increase in its valuation since the beginning of 2022.

In these volatile economic times, multifamily real estate investors will continue to benefit from high-quality assets within areas showing stable employment and steady, or even significant, income growth. A selective approach to site selection and design combined with a best-in-class management approach can help investors mitigate the effects of inflation felt elsewhere in their financial lives. To learn more about investing with Redwood, call 216.360.9441 or fill out a contact form .

The information contained in this presentation is provided to you for informational purposes only and is not to be used or considered as an offer or invitation to sell or issue or any solicitation of any offer or invitation to buy securities in a company, or any advice or recommendation with respect to such securities. An investment in a Redwood project is limited to only those persons who qualify and can verify their status as an “accredited investor” under Regulation D of the Securities Act of 1933, as amended (the “Securities Act”). Investment opportunities in a Redwood project are speculative and involve substantial risk. You should not invest unless you can sustain the risk of loss of capital, including the risk of total loss of capital. Certain statements in this presentation constitute "forward-looking statements" within the meaning of the Securities Act. Any statements contained herein that are not statements of historical fact are deemed to be forward-looking statements. It should not be assumed that future investments in a company, project or business transactions with Redwood or any affiliate will be profitable or will equal or exceed the performance of previous apartment neighborhoods developed and managed by Redwood. Investors should consult with a professional investment advisor that is aware of the investor’s circumstance before selecting an investment. Investments in a Redwood project are illiquid, long-term investments that cannot be sold or exchanged.

In the Know: 5 Reasons Real Estate Investors Should Consider Projects in the Midwest

Fri, 14 Oct 2022 20:18:47 GMT

When it comes to real estate investment, so-called “flyover country” should be anything but.

Rather than crisscross the country in search of opportune property investments, savvy investors know it pays to stick to the center of the U.S. Why do they believe the Midwest is best? Start with these five reasons.

1) Economies are built for stability.

While no economy is immune from volatility, many Midwest communities are more insulated than most.

Think about their core industries—healthcare, financial services, advanced manufacturing, food processing and even agriculture.

These products and services are core to consumers’ day-to-day lives, and economies built around them tend to weather the inevitable ups and downs of the economy. In contrast, the coasts attract more risk-takers—everything from startups to jobs tied to the fortunes of Wall Street. Investments in these areas may carry additional risk because of it.

While the Midwest certainly is home to its share of Fortune 500 and fast-growing companies, its bread and butter is small businesses and family-owned businesses. These companies often are nimble, make decisions with the long term in mind and give back to their communities.

2) Residents are “common cents” smart.

For multifamily investments, tenants’ financial situations are key to achieving positive returns. In the Midwest, individuals tend to be more financially literate and financially conservative.

For instance, a 2019 study found 68 percent of Midwesterners had increased their savings or saved the same amount as the prior year. More than half—56 percent—have a retirement account, and almost two-thirds have a “rainy day” or emergency fund.

Just as with the economies themselves, Midwest residents are known for being hard workers who gravitate to stable occupations. Tenants in multifamily properties likely will include nurses, teachers, manufacturing workers, even students. Their more stable financial situations can lead to on-time rent payments, renewals and satisfied investors.

3) Investor competition is less, while yields can be superior.

Even during the pandemic, the Midwest performed well for property investors thanks to its more conservative approach and prioritizing cash flow.

CBRE named the following markets among the best in the country in 2020: Cincinnati, Cleveland, Columbus, Detroit, Indianapolis, Kansas City, Louisville and St. Louis.

And while the current environment has produced significant interest in property investment, investors will find the field a bit less crowded the closer they go to the center of the country. Even more encouraging: Yields in the Midwest tend to be higher than in other areas of the country, thanks largely to the characteristics above.

4) The “Midwest migration” is a real thing.

The line of moving vans heading out of certain states along the coasts is not an exaggeration—and many of them have been heading to the Midwest.

Recent U.S. Census data showed a huge spike in movement out of the nation’s 56 major metro areas with populations exceeding 1 million, and higher population growth in smaller metro areas. Non-metropolitan America showed the biggest annual population increase in more than a decade.

The pandemic, coupled with historic inflation, is combining to drive residents to the middle of the cost of living, and in some cases, a political climate that aligns more closely with their values.

In Cleveland, for instance, the city ranked fifth in the U.S. for net new resident gain during the pandemic.

That means strong demand for housing in the Midwest, which has experienced extremely high occupancy in its multifamily sector.

5) Communities are designed for livability.

Once people move to the Midwest, they tend to stay. Credit a combination of high-quality schools, safer neighborhoods, less congestion and pollution, and outstanding quality-of-life amenities.

The Midwest is filled with lakes and rivers for recreation, award-winning arts organizations and destination parks.

Residents love that they can find world-class healthcare, a huge range of higher education opportunities and diverse, more affordable housing than elsewhere around the country.

It all equates to long-term residents who make the Midwest a winning investment for all.

With its roots in Ohio and a growing portfolio of 14,000+ apartment homes in suburbs across Ohio, Michigan, Indiana, Illinois, Kentucky, Iowa, the Carolinas and soon, Nebraska, Redwood is well-positioned for continued growth and success in the Midwest. To learn more about investing with Redwood, call 216.360.9441 or fill out a contact form .

What's On Our Minds: The Build-to-Rent Boom

Fri, 30 Sep 2022 19:54:53 GMT

Q&A with David Conwill, Executive Vice Chairman

at Redwood Living, Inc.

A combination of factors is creating a surge of interest from residents and investors in build-to-rent housing opportunities. Industry leader and Redwood Living Inc.’s executive vice chairman David Conwill shares his insights about this growing institutional investment class.

Q: For those unfamiliar with the build-to-rent concept, can you explain what this growing class of real estate is all about?

A: There is a large stratosphere or spectrum of different housing types that build-to-rent encompasses. For example, the concept includes large single-family homes in a neighborhood setting with three to four bedrooms on a single-family lot with a yard. Developers are building these properties to provide high-end rental housing that appeals to families. Build-to-rent also includes more of what a Redwood Neighborhood involves—single-story apartment homes with two bedrooms, two bathrooms and attached garages.

The build-to-rent space was born post-Great Recession with the single-family for-rent industry as investors acquired and aggregated homes that were lost to banks. This movement helped it become an institutional class of real estate thanks to large institutional investors. Homes were no longer available to purchase at reasonable values in areas where institutional investors wanted to own product, so naturally the only other option was to build new product.

Interestingly, Redwood has been in this space—in fact, I would argue we pioneered the concept—long before the vernacular of “build-to-rent” existed. We built our first project in 2001, and the portfolio grew to almost 10,000 apartment homes before build-to-rent became an institutional class of real estate.

We knew a long time ago that it comes down to the needs of the customer. Historically, owners and developers of residential rental real estate would prioritize investor returns and that investment thesis over the needs of the consumer by focusing on density. Redwood de-emphasizes high-density and focuses more on a residential home-type experience. Our thesis has been proven true by the new institutional investor craze and desire to jump into the space.

Q: As you mentioned, build-to-rent communities are becoming increasingly popular—what factors do you think are contributing to this shift in the industry?

A: At the end of the day, it comes down to demographics and population. We know there is a housing shortage not just in certain markets—it is a national macro-level issue. We also know there is an owner unaffordability crisis. As fewer homes are available in any given market, more people are priced out of the market. As such, progressive communities understand the need for zoning and are incentivizing and encouraging new housing developments.

So, if you look at the bigger picture, the build-to-rent industry is tackling a couple different things. It is trying to produce more housing supply for people who are renters by choice and want to maintain some optionality with their life. It also provides a more affordable alternative for those who do not necessarily want to produce a 20% down payment and buy a home, and also are not interested in living in a multi-level apartment complex. These renters are willing to pay more for a higher caliber rental product that gives them the feeling of a single-family home. It’s a lifestyle decision.

Q: While it may appear like build-to-rent is a relatively new concept, as you mentioned it has been the foundation of Redwood's model for decades. How does that position Redwood to better serve its residents?

A: The beauty of Redwood is that every Redwood apartment neighborhood offers the same experience, so customers can set an expectation. Our team members, vendors and ambassadors can also create a consistency that leads to exceeding those expectations. That consistency is all-inclusive—from floor plans and architecture down to the leasing process, customer service and property maintenance. Speaking of maintenance, residents appreciate the convenience and peace of mind that comes with living a maintenance-free lifestyle—just another one of the many advantages that come with living in any Redwood apartment home.

It is also worth noting that every Redwood Neighborhood is named Redwood. While that might be common in the restaurant or hospitality industry, it is not as much in multifamily. So, whether it’s Lake Wiley, South Carolina or Waukee, Iowa, you know any Redwood Neighborhood is going to look and feel the same. We prioritize creating that consistent brand across our entire portfolio.

Q: In addition, how does that longevity benefit investor partners?

A: First, we should consider the product. As stated, there is a tremendous demand and lack of supply, so from an investment perspective, investors can participate and provide a huge need and a solution in the marketplace.

Whether we are talking about single-story apartments specifically or the general build-to-rent industry, the development process can be a challenging, time-consuming endeavor – finding land, going through entitlements, mitigating issues that come with developing land, etc. It can take years from the time we identify a piece of land until residents start moving into newly completed apartment homes. So, it’s a nice opportunity for an investor to partner with an enterprise like Redwood that has an established operating platform and an exceptional track record of delivering consistent product over and over throughout the Midwest and Carolinas. It all differentiates Redwood from other build-to-rent developers and helps mitigate risk for an investor that is looking to deploy money in a safe, secure investment.

Q: Is there a certain type of investor that is a particularly good fit for a Redwood project?

A: We appeal to investors who are seeking a yield on their investment—a pay rate that is anticipated on their principal investment with the knowledge that their principal is invested in an apartment neighborhood that is managed by a company with a track record of managing high-quality apartment neighborhood with the projection that the principal will be returned at some future date.

There are many developers out there operating as merchant builders, meaning they develop one-off projects with the intent to sell to an institutional investor. This type of strategy might appeal to an investor looking for a short-term play, as opposed to someone who invests with Redwood, a company that has never sold off any of its build-to-rent projects. We’re building a brand and an operating platform that lend themselves to long-term investment benefits—cash flow equity, tax benefits, etc.

Q: How do you see the future of build-to-rent evolving?

A: I think the future is very bright for the build-to-rent space. As the general population continues to grow and age, we will see an ongoing need and increased demand for this class of real estate. I think it is in the best interest of the United States to continue to have pro-housing policies throughout all levels of government so that those that have the expertise, skills and experience can help address the demand by developing build-to-rent communities. And Redwood is eager to do so—to remain consistent in growing in new suburban markets throughout the Midwest and Carolinas, which is our primary focus.

To speak with David Conwill or any member of Redwood’s investor relations team, call 216.360.9441 or fill out a contact form .

Making Headlines: Redwood Cuts Ribbon on Newest Neighborhood

Fri, 16 Sep 2022 19:07:31 GMT

Happy Homecoming: Redwood has officially opened its newest neighborhood in Medina, Ohio.

Mayor Dennis Hanwell of Medina, city and township officials, the Greater Medina Chamber of Commerce, and property investor partners, helped Redwood celebrate last week with a grand opening for its second apartment neighborhood in Medina – Redwood Medina Lafayette Township .

After some brief remarks, the ribbon was cut and guests were invited to meet the Redwood team, gather for lunch and tour the model.

Staged to perfection, the model gives visitors the chance to immerse themselves in a fully furnished, decorated apartment, allowing them to visualize what living in a Redwood Apartment Home is all about. It was also the perfect backdrop to celebrate this important milestone.

“It is so important for us to stop and commemorate moments like these – as a team and as an extended Redwood family,” said Jill Silloway, president of Redwood. “Undertaking a project like this takes years of hard work and support by so many. It was a true privilege to celebrate together.”

Situated at the corner of Lake Road and Wedgewood Road, Redwood’s latest neighborhood boasts all the signature amenities that make these single-story apartment homes so remarkable.

Each floor plan in Redwood Medina Lafayette Township includes two bedrooms and two bathrooms along with a private entrance and a two-car attached garage complete with ample storage.

Upon completion of the neighborhood’s two phases, Redwood Medina Lafayette Township will include 149 apartment homes, ranging in size from 1,294 to 1,709 square feet.

Check out the story in the Medina Gazette here .

In the Know: When Evaluating a Multifamily Investment, Remember to Evaluate the Brand

Wed, 24 Aug 2022 16:00:00 GMT

How Do You Know Where to Invest?

When it comes to multifamily investing, there are a number of options to consider. First, what type of property or properties best fit the investment strategy? The term “multifamily” covers a wide range of housing types, including single-family homes, duplexes, triplexes, fourplexes, townhomes, condominiums and apartments.

From there, a multitude of other decisions follow, including whether an investor is interested in pursuing a multifamily property with an established brand or a standalone property without the support of a branded developer or property manager.

When evaluating the advantages of partnering with a brand, it might help to remember these three Cs:

Consistency

No matter the company, product or service, a well-established brand is one that sets expectations, shapes perceptions and builds consumer loyalty. It does so by being consistent in its offering, steadfast in its values and relentless in its customer service.

This notion of consistency is crucial for a multifamily brand to build trust with its residents, and it must manifest itself in a variety of ways starting at the very beginning of the leasing process. As such, a multifamily brand will likely have a very defined set of processes and procedures that provide a seamless experience throughout the entire resident journey.

From a people perspective, employees become brand advocates. They are trained to provide a consistently high level of customer service and they are instilled with the same values that will guide their decisions and resident interactions. From a product standpoint, properties must mirror the same degree of quality and provide a reasonably predictable experience for both new and long-standing residents alike. Ownership also benefits from certain economies of scale that come with operating multiple locations. This could include savings on anything from construction costs, to ongoing labor and materials to service contracts.

When all the pieces work together, the result is a satisfied resident that becomes an invaluable flag carrier for the brand and its investors and a profitable asset that upholds its favorable reputation.

Culture

Culture is an intangible yet powerful component of a strong brand. It is ultimately where the brand is born. It’s been said that a strong brand culture helps companies generate higher margins, drive customer advocacy, attract the right talent and forge key alliances.

For multifamily brands, culture plays an important role in both the employee and resident experience, but its impact can reach even farther. It is part of the foundation to build long-term relationships. For example, perhaps the value of serving others through philanthropic efforts has been nurtured within the company’s culture. That in turn can directly benefit the communities where properties are located by way of volunteerism, fundraising, etc. The brand is then appreciated as a good corporate citizen and it entices other municipalities to welcome the brand to develop and expand within their communities.

So, while potentially overlooked from an investment perspective, culture can be a key differentiator to consider when evaluating the potential profitability and longevity of an asset.

Communication

When investing in a multifamily asset, communication is key. It is a quality often championed by a brand that has the bandwidth and wherewithal to facilitate it effectively across channels.

A dedicated investor relations team will help organize and control the flow of information between the company, the issuer and its investors and stakeholders. This team will offer an invaluable personal connection between the investor and brand, coordinate regular shareholder meetings, and manage the ongoing dissemination of financial data and reports, among other things. The brand may also invest in an electronic investor portal – a secure place to give financial partners 24/7 access to important documents, statements, reports, etc.

For more than 30 years, Redwood has been building a brand committed to enriching the lives of those that choose to rent throughout suburban America. It does so by providing a remarkable living experience for residents, a fulfilling work life for team members, neighborhoods that communities welcome and outcomes that benefit financial partners.

To connect with the Redwood Investor Relations team, call 216.360.9441 or fill out a contact form .

In the Know: What Real Estate Investors Should Know About Risk-Adjusted Investment Opportunities

Fri, 19 Aug 2022 15:37:34 GMT

Chances are, even though risk generally is top of mind when it comes to investments, many investors are even more aware of it given current market conditions.

Like any investment, real estate investment is not entirely without risk. But by being aware of risk-adjusted returns, investors can make sound decisions that complement their broader strategy.

Considering the “risk-adjusted return” of an investment allows investors to weigh the return of that investment against the risk of producing that return. With that metric, investors can decide if the deal fits their risk tolerance.

For instance, multifamily investments with a lower degree of risk may forecast internal rates of return that are less than those with a higher risk. Risk and return can be highly correlated, especially in real estate.

So, what’s the best way to measure risk? It can be both qualitative and quantitative.

Let’s start with the numbers. To determine risk associated with an investment, start by identifying the projected return on the target investment property. Then subtract what you considered the “risk-free rate” in the market – the rate on a 10-year Treasury bond, for instance. The excess difference between the two will provide investors a sense for the risk-adjusted return. Investors also can take a different quantitative approach and compare the return on a projected real estate investment property to the return on a composite of stock market indices.

Want a more qualitative approach? There are many in real estate.

Start by considering a property’s age – often, the older it is the riskier it is – as well as its location. Markets matter, and if a property is in a location with unfavorable demographics and a fundamentally challenged economy, that creates risk.

Asset class matters, too. Historically, some commercial real estate assets have been less risky than others. Other asset classes including hotels and restaurants have been more volatile.

The tenant base is key as well. Tenants with stable financials and a record of steady payment make an investment less risky and a property less prone to vacancy. Lease terms are key as well. A multifamily property that allows month-to-month leasing can present more risk than one with longer lease terms.

And, of course, the team developing, leasing and managing investment properties plays a significant role in mitigating risk. Choose an established firm with the scope and scale to brand and market the property, proactively address occupancy, handle any maintenance needs and address tenant issues.

Many investors also find taking a passive approach with their investing further addresses risk.

While no investment is without risk, working with developers and managers who practice the right fundamentals and ongoing attention to real estate assets allows investors to invest with confidence.

At Redwood Living, Inc., multiple factors are in place to expertly manage its properties. As an innovative developer and manager of single-story apartment homes, Redwood enjoys a 30-year history of outstanding occupancy in carefully chosen markets while maintaining top talent as a recognized best place to work. To learn more about investing with Redwood, call 216.360.9441 or fill out a contact form .

121 new apartments coming to Rochester Hills, Michigan

Mon, 08 Aug 2022 18:45:04 GMT

Discover the Redwood Advantage at Redwood Rochester Hills

Independence, Ohio – August 8, 2022 – A brand-new neighborhood of single-story apartments is under construction in Rochester Hills, Mich. by Ohio-based Redwood Living, Inc.

Each of the seven floor plans available at Redwood Rochester Hills will include two bedrooms and two bathrooms. Unlike traditional apartment complexes, Redwood’s signature design includes single-story open floor plans, attached two-car garages and private entrances with dedicated street addresses.

“Redwood is thrilled to add our 27th apartment neighborhood in the state of Michigan right in the heart of vibrant Rochester Hills,” said Mike VanGelder, Senior VP of Property Operations at Redwood. “This thriving community has received multiple public accolades as a ‘best place to live’ and it is not hard to see why. Redwood Rochester Hills gives residents yet another place to call home that is just minutes away from downtown, Rochester Municipal Park and Thelma Spencer Park.”

Apartment homes at Redwood Rochester Hills will range from 1,294 to 1,381 square feet and monthly rent will start at $2,300 per month.

Amenities That Impress

Every apartment at Redwood Rochester Hills will feature a spacious eat-in kitchen with a large pantry, vaulted ceilings, and bonus living space that can be utilized for an office, home gym, or whatever best suits residents’ needs.

Additional amenities at Redwood Rochester Hills will include:

Full-size appliances
Washer and dryer hookups
Large closets
Upgraded finishes and features
Personal patios
Pet-friendly accommodations

Leasing at Redwood Rochester Hills

Redwood Rochester Hills is located at 1339 Beale Circle, across the street from Yates Cider Mill on Dequindre Road. Hard hat tours will commence soon, but interested residents are also invited to schedule an in-person or self-guided tour (available 24 hours a day) at nearby Redwood Shelby Township . They can also begin the leasing process online .

Redwood has developed and manages more than 14,000 apartment homes in 133+ neighborhoods throughout Ohio, Michigan, Indiana, Illinois, Kentucky, Iowa, North Carolina and South Carolina.

Remarkable Growth in All Markets

Considering Real Estate Investment? Find The Right Approach.

Thu, 14 Jul 2022 13:45:45 GMT

Discover the Types of Real Estate Investments

Whether it is a way to diversify an investment portfolio, a hedge against inflation or a long-term play, real estate investing is having much more than a moment. In recent years, including in 2022, investors have watched escalating across-the-board real estate values and looked for ways to take advantage of the opportunity.

But which approach is best? It depends on how involved the investor wants to be, the overall investment strategy, and of course, the appetite for risk.

Here’s a look at some of the many ways real estate investment can occur.

The DIY Approach

Inspired by reality TV shows that highlight what flipping the right house can bring in return? Many have been, driving an increase in individual single-family investments.

Often this takes the form of finding an underutilized home, making improvements, and then selling it quickly for a profit. In other cases, individuals buy the house and rent it out for years, or offer it up on vacation rental sites.

It will likely take some sweat equity and ongoing maintenance, plus the ability to finance the property. But beware – houses are selling for considerably more than they were even two years ago, so be prepared to own the investment home for a while if the market shifts.

The same approach can apply to investing in duplexes, fourplexes or even larger apartment buildings. But, the more an investor takes on individually, the more there is to personally address and maintain, such as property repairs, bookkeeping and leasing.

Passive Investing: Enjoy Returns with Less Involvement

If developing, managing and maintaining real estate isn’t something an investor wants to take on directly, consider passive investing opportunities.

With this approach, individuals typically join with a limited number of other investors to support a specific real estate project or pool of projects. Investments will likely pay regular returns and the partnership is designed as a long-term commitment to the real estate.

One such example is the investing in an equity program like the one at Redwood Living, Inc, which offers the opportunity for passive investing in Redwood Apartment Neighborhoods. Investors are able to connect with growing markets that typically have a stable tenant base that would produce consistent returns and create valuable long-term opportunities.

Each Redwood apartment home is found in a neighborhood setting and designed in one of its signature open floor plans with two bedrooms, two bathrooms, an attached garage and a dedicated street address.

Most passive investing, including at Redwood, is available only to accredited investors. Such investors must show an annual income of at least $200,000 for an individual or $300,000 for a couple, with the reasonable expectation that it will continue. Or, they must have a net worth of $1 million or more, not counting the primary residence.

Investing with a Crowd

While passive investments often involve a limited pool of investors, other approaches include many more. The classic REIT, or Real Estate Investment Trust, is a publicly traded entity that owns mostly commercial real estate. A REIT might be focused on hotel properties, office buildings or retail centers, for instance.

Some investors find these provide attractive dividends and help diversify their stock portfolios by including real estate. Like anything, they are subject to market volatility within their sector, though. And while they can offer more liquidity than other real estate investments, returns will vary depending on when shares are sold.

The crowdfunding movement has extended to real estate investing, too. There are real estate crowdfunding platforms that will connect investors with opportunities. Some are only available to accredited investors, but others are open to those who do not meet income or wealth minimums. Many of these investments are non-traded REITs.

A few things to keep in mind, though: These can be highly risky investments, as some of the platforms have short track records. And an investor’s funds might not have much liquidity, potentially being held for years.

Interested in Finding Out More?

The Redwood Investor Relations team would be happy to have a conversation with interested parties. To get in touch about opportunities in passive multifamily investing, contact the Redwood Investor Relations team by calling 216.360.9441 or by filling out a contact form .

Why Investing with Redwood Can be a Great Opportunity for Real Estate Investors

Thu, 07 Jul 2022 18:37:09 GMT

Redwood Living, Inc. (Redwood) is known in the multifamily apartment rental industry for its single-story neighborhoods of apartment homes located in suburban markets. But what makes it a good option for real estate investors looking to diversify their portfolios?

Choosing the Right BTR Investment Opportunity

In the past few years, the term “build to rent” (BTR) has become an increasingly popular segment of the real estate investment industry. However, there are still relatively few BTR properties when looking at the housing market in general, which makes it crucial to choose the right BTR investment project. In June 2021, Hunter Housing Economics stated that of the homes built in the United States, just 6% were classified as BTR. In the next 2 years, the real estate consulting firm expects the number of BTR homes built each year to double.

In the meantime, the current housing shortage is causing the demand for rental housing to continue its increase. In an article from The Counselors of Real Estate , it was reported that “the aggregate housing shortage is now over 2 million units.” With this high demand for rental housing, rental rates have risen consistently—according to the Harvard Joint Center for Housing Studies , “asking rents for all professionally managed apartments spiked in the third quarter [of 2021], led by a 13.8 percent jump for units in higher-quality buildings.”

For BTR companies, there is ample opportunity to fill this gap in the housing market, and in the case of Redwood, they have had their sights set on expanding throughout suburban America for quite some time. Redwood’s signature building and property management strategy has always fallen into the category of BTR, even before the term came into popularity. For 30 years, we have been continuously delivering results from our proven formula, no matter where our neighborhood projects are located.

Why an Equity Investment with Redwood Can be Beneficial

If you’re looking for a passive investment to diversify your portfolio, Redwood equity investments offer that opportunity. With Redwood’s model, investors can benefit from a more predictable investment and income stream, allowing them to preserve capital while investing in multifamily projects. Plus, investing in a high-growth asset class with an organization that has over 30 years of experience perfecting the development process can bring peace of mind. Redwood handles the stresses of property management, so investors don’t have to stress about day-to-day operations.

Over the past 30 years, Redwood’s multifaceted development arm successfully completed over 122 development projects across seven states. This included overseeing the development, construction, debt placement, and leasing of the units up to stabilization with a 97% physical occupancy rate across the portfolio as of April, 2022. As of December 2021, Redwood has successfully secured permanent financing on behalf of the owners of over 100 Redwood apartment neighborhoods upon stabilization of each property. For many projects, the net proceeds from the applicable project’s permanent financing was sufficient to return to investors a majority of the initial preferred equity that was invested in the project.

About Redwood

Redwood is an innovative, 100% ground-up construction, development and property management company. Since 1991, Redwood has been reinventing the traditional apartment rental experience. Instead of focusing on the traditional apartment rental strategy of building as many units as possible into the available space, our goal has always been to give renters a true home.

Each Redwood apartment home is found in a highly desired neighborhood setting and laid out in one of our signature open floor plans, all offering two bedrooms, two bathrooms, an attached garage and a dedicated street address. Our residents are able to enjoy all the comforts of a single-family home—a spacious kitchen with a full pantry, full-size appliances, upgraded finishes and features, washer and dryer hookup, and more—without being subjected to the stresses of home ownership.

Not Your Traditional Multifamily Company

Redwood’s signature build-to-rent strategy is distinctive in the industry and differentiates us from the typical real estate investment. Where many developers build a rental property and sell it, Redwood has a more holistic approach: we believe the only way to ensure the quality of home our residents deserve is to stay involved in each Redwood-managed neighborhood for its lifetime.

From start to finish, our highly skilled and impeccably trained in-house staff drive building projects to close efficiently while focusing on the details that make each Redwood Neighborhood a remarkable place to live. Once each development is completed, our leasing and management experts take over, using their highly rated customer service skills to attract and retain residents from the lease-up stage and beyond. Our commitment to excellence also extends to our methods of maintenance in our neighborhoods—from exterior care of landscaping and driveways to the physical care of each home. We ensure our Redwood residents can enjoy the advantages of living in a high-quality home for as long as they’d like.

Part of the Redwood Advantage is the ability for each resident to customize their living experience, an offering that differentiates us within the industry. Residents can choose between our larger than industry average floor plans, and they can also choose a lease term that works for their situation. While our standard lease terms range from 6-15 months, we also offer residents a 24-month lease option—something other property management companies have not explored historically. Because of the elevated experience and choices we provide residents, Redwood can charge rental rates that range from $1,300 to $2,500, with an average of 26 months in resident tenure.

Now Accepting Accredited Investors

As of March 2022, Redwood has changed its offering approach, to Rule 506C, allowing the company to take investments from verified accredited investors. Redwood’s dedicated Investor Relations team is speaking with prospective investors daily, and is happy to talk through upcoming deals, our standard deal structure, and if Redwood would be a good fit. Fill out our contact form to get the process started.

Why Residents Are Flocking to Build-To-Rent Neighborhoods

Mon, 27 Jun 2022 19:15:05 GMT

Build-to-Rent Projects are Gaining Popularity

Build-to-rent (BTR) has been a growing trend in real estate for the last several years. As the name suggests, a BTR home is one built for the purpose of renting rather than selling. Detached single-family homes, a neighborhood of row houses, horizontal apartments and duplexes can all be designed, built and managed as BTR communities.

Compared to last year, the inventory of new BTR homes is expected to double in 2022. Demand is up and the marketplace is reacting to create the desired supply. Given current economic conditions, it is not hard to explain the palpable shift from homeownership to this alternative form of housing. Home prices are at all-time highs and consumers are simultaneously navigating record inflation and rising interest rates.

But aside from today’s challenges, fundamental shifts in consumer behavior and preference help explain why resident demand for this fast-growing class of real estate has true staying power.

Workers are Migrating

Today’s national workforce is no longer tied down to 40 hours per week in the same office. Work-from-home and hybrid arrangements suddenly make it possible for employees to work from anywhere – and many are choosing to do so from the suburbs.

Urban cores and downtowns were once bustling with people who ditched their commutes to live closer to work. Today they are opting for more livable square footage – a space that can accommodate a home office, personal gym and useful storage. In these scenarios, a BTR home strikes the perfect balance for those who want to spread their wings while continuing to rent.

Something for Everyone

BTR offers distinct advantages for those at varying ages and stages of life. For the young renter who has outgrown a studio or one-bedroom apartment but is not quite ready to own, choosing to live in a BTR community can help provide the perfect home-like transition.

On the flipside, empty nesters looking to rent can downsize while still maintaining the feel of a single-family home. Amenities like an attached garage, private outdoor space and a real street address are all important selling points for various types of renters. Plus, accommodations are ideal for both long-term renters or those looking for a shorter stay.

Carefree Living

Cutting the grass and shoveling snow are things of the past in a BTR home. These professionally managed communities offer residents freedom from the burdens of property maintenance. Ongoing upkeep to a property’s exterior along with on-call service support to help with inside and outside repairs is an appealing perk for many residents—not to mention eliminating costly out-of-pocket expenses to replace things like roofs and HVAC systems.

In addition to property maintenance assistance, a BTR neighborhood often takes on the look and feel of a traditional single-story neighborhood. Picturesque, walkable settings with manicured green space accented by lush landscaping are enjoyed by residents along with their pets. Planned social events such as concerts, game nights and food truck visits help nurture relationships between neighbors and further establish a sense of community.

In short, developers and builders are adapting to market demand for the BTR segment, establishing key renter personas and addressing the goals of these renters with communities, neighborhoods, homes and apartments that meet their specific needs.

What this Means for Investors

As an asset class, BTR has been able to prove its worth throughout the past several years. Because BTR projects have been successfully operating over a longer time frame, there is more reliable data for investors to act upon when choosing the right BTR investment. The current housing shortage is causing the demand for rental housing to continue its increase. In an article from The Counselors of Real Estate , it was stated that “the aggregate housing shortage is now over 2 million units.”

With this high demand for rental housing, rental rates have risen consistently— CNBC reported that, “…the rents for single family are growing fast at 4.5% annually now compared with 3% rent growth for multifamily apartments, according to John Burns Real Estate Consulting. There is also much less turnover in single-family rentals, and the rental market is much less volatile than the home sales market.”

How Redwood Fits into the Equation

Redwood’s signature building and property management strategy has always fallen into the category of BTR, even before the term came into popularity. For 30 years, we have been continuously delivering results from our proven formula, no matter where our neighborhood projects are located.

Investing with Redwood is a unique opportunity that allows accredited investors the chance to connect with Redwood and our team to build upon a 30+ year history of successful expansion and the goal of reinventing the apartment home.

We are proud to offer the same level of customer service we offer our residents to the investors we partner with for each apartment neighborhood. Contact the Redwood Investor Relations team by calling 216.360.9441 or filling out a contact form to find out more about Redwood’s upcoming deals.

Redwood Living, Inc. Announces 2nd Copley, Ohio Apartment Neighborhood

Wed, 22 Jun 2022 19:53:45 GMT

Introducing Redwood Copley Heritage Woods Drive

Innovative developer and manager of single-story apartment homes,  Redwood Living, Inc  (Redwood), announces the construction of Redwood Copley Heritage Woods Drive. Upon completion during the summer of 2022, this will be the company’s second neighborhood in the Copley, Ohio area.

“The success of our first Copley neighborhood has confirmed demand for a simplified and relaxed lifestyle without the stresses of homeownership,” said Redwood President, Jill Silloway.

“Our residents can enjoy the advantages of living in a high-quality home for as long as they would like, and our homes provide the experience they seek—whether they are looking for a short- or long-term lease, need an apartment that’s furnished or one that can accommodate multiple pets, we meet the varying needs of all our residents.”

Redwood Neighborhoods Offer Residents a Remarkable Experience

Redwood Copley Heritage Woods Drive will offer residents five different floor plans that range in size from 1,294- to 1,381-square feet. Each of the 46 new apartment homes includes two bedrooms, two bathrooms, ample storage options as well as an attached two-car garage.

Additional amenities include:

Spacious, eat-in kitchens with large pantries
Open floor plans
Large closets
Washer and dryer hookups
Full-size appliances
Vaulted ceilings
Upgraded finishes and features
Pet-friendly accommodations 
Bonus space that can be utilized based on lifestyle needs
Dedicated street address

Monthly rent at Redwood Copley Heritage Woods Drive starts at $1,799. While the neighborhood is still under construction, interested residents can schedule a guided video tour or an in-person tour at Redwood Copley, just minutes from the new neighborhood. Redwood is currently pre-leasing for Redwood Copley Heritage Woods Drive online .

Since 1991, Redwood has been reinventing the traditional apartment rental experience. Redwood manages 14,000+ apartment homes in 133+ neighborhoods throughout Ohio, Michigan, Indiana, Illinois, Iowa, North Carolina, South Carolina, and Kentucky, currently. New construction will begin in Nebraska this year, with more potential projects on the horizon in Missouri.

Follow along with all of Redwood's growth on the Redwood Investor Blog, or by contacting our team .

New Apartment Neighborhood Coming Soon to Medina, Ohio

Mon, 13 Jun 2022 19:42:22 GMT

Redwood is excited to announce its newest Medina, Ohio neighborhood.

Redwood Living, Inc. has officially announced it will welcome residents to Redwood Medina Lafayette Township this summer. The new neighborhood includes 149 single-story apartment homes built in Redwood’s signature design.

“We have been a member of the Medina community for 12 years, since the opening of our first location, Redwood Medina,” said Jill Silloway, Redwood’s President. “We are excited to provide a simple and smart lifestyle built for local residents seeking the comforts of a single-story apartment home without any hassles or headaches that come with homeownership.”

Surrounded by a natural green landscape, Redwood Medina Lafayette Township will offer five different floor plans that range in size from 1,294- to 1,709-square feet. Each apartment home includes two bedrooms, two bathrooms, ample storage options as well as an attached two-car garage.

Redwood’s apartment homes also include:
Spacious, eat-in kitchens with large pantries
Open floor plans
Large closets
Washer and dryer hookups
Full-size appliances
Vaulted ceilings
Upgraded finishes and features
Pet-friendly accommodations
Bonus space that can be utilized based on lifestyle needs
Dedicated street address

Redwood Medina Lafayette Township is located at 5777 Coneflower Drive, Medina, OH 44254, at the corner of Lake Road and Wedgewood Road. The monthly rent will start at $1,699.

While Redwood Medina Lafayette Township is still under construction, interested residents can schedule a guided video tour or an in-person tour at nearby Redwood Medina. Redwood is currently pre-leasing for Redwood Medina Lafayette Township online .

Redwood manages 14,000+ apartment homes in more than 133 neighborhoods throughout Ohio, Michigan, Indiana, Illinois, Iowa, North Carolina, South Carolina, and Kentucky, currently. New construction will begin in Nebraska this year, with more potential projects on the horizon in Missouri.

The company believes that the growth of the rental population demands the response that Redwood provides. The success of this approach continues to be validated in new markets. Redwood is a company that believes in its mission, product and amazing people. It creates a simplified, relaxed lifestyle for residents, and offers a rewarding atmosphere for its employees.

Follow along with all of Redwood's growth on the Redwood Investor Blog, or by contacting our team .

Redwood Living, Inc. enters Illinois with first Chicagoland neighborhood in Lockport

Thu, 26 May 2022 23:07:09 GMT

Announcing Redwood's First Neighborhood in Illinois

Ohio-based owner and developer of single-story apartment homes, Redwood Living, Inc., will welcome residents to its first neighborhood in Illinois this summer.

Construction is underway for Redwood Lockport , a brand-new neighborhood that will feature 112 single-story apartment homes ranging in size from 1,294-1,620 square feet.

Redwood will begin pre-leasing for the new neighborhood in June, and the first residents are expected to move in by August. Monthly rent will start around $2,100.

“We could not ask for a better place to welcome our first Chicagoland Redwood Neighborhood,” said Steve Kimmelman, CEO and executive chairman of Redwood. “Lockport is a city with a rich history but also a strategic vision for the future. We are thrilled to offer residents a new take on apartment living coupled with our unmatched ability to exceed expectations at every stage of the rental process.”

Bringing New Homes to Lockport

Redwood’s signature design offers the feel of a single-family home, thanks to its single-story, open floor plans, attached garages and private entrances with dedicated street addresses. Each of the six different floor plans available at Redwood Lockport will include two bedrooms and two bathrooms along with a two-car attached garage.

Residents can also expect:

Flexible lease terms
In-person, virtual and self-guided touring options
Spacious, eat-in kitchens with large pantries and extra storage space
Open floor plans
Large closets
Washer and dryer hookups
Full-size appliances
Vaulted ceilings
Upgraded finishes and features
Pet-friendly accommodations
Green-centric neighborhood setting
Bonus space that can utilized based on lifestyle needs, such as a home office or personal gym

Redwood Lockport is located at 17215 Juniper Drive. The neighborhood is ideally situated with nearby retail and recreation options along with convenient highway access. Interested prospective residents can get all leasing information, contact the team and pre-lease on the Redwood Lockport website .

Redwood in Illinois

Looking ahead, Redwood is eyeing major expansion across the region.

“We have the potential to add as many as 3,000 apartment homes across Chicagoland over the next five years,” said Kevin Kwiatkowski, Chief Acquisitions Officer. “Construction will commence on our neighborhoods in Oswego and Volo next, and we look forward to sharing details about those locations and more in the coming months.”

Follow along with all of Redwood's growth on the Redwood Investor Blog, or by getting in touch with our team .

3 Reasons Build-to-Rent is a Popular Sector for Real Estate Investment

Mon, 23 May 2022 23:05:05 GMT

Build-to-rent is one of the fastest-growing sectors of the housing market and a trending topic in real estate. According to a recent survey of 3,300 renters on rentcafe.com, 78% of respondents said they were interested in living in a community of single-family homes.

There are several interchangeable terms used to refer to build-to-rent properties: BTR homes, build-for-rent (BFR) homes, B2R homes. However, the concept, and the opportunity, remain the same. Unlike standard high-rise apartments, build-to-rent homes are designed to be an ideal option for individuals searching for a long-term rental residence that feels more like home.

Top 3 Reasons to Invest in Build-to-Rent

Build-to-rent is considered a popular opportunity for accredited investors. The affordability and demand for rental housing may lead to impressive ROIs from single-family homes. This 2020 article from Forbes shares how yields can be higher from build-to-rent homes versus traditional apartments. Additional reasons to invest include:

1. The Market is Growing

The race to build single-family rentals is spreading fast. There were 6,740 Build-to-Rent homes completed in 2021 ( the highest amount to date ) and the market is expected to double in 2022 with twice as many homes under construction.

2, Renting is on the Rise

For the past 14 years, the percentage of renters has been rising in the United States. Due to student loan debt and other financial struggles, many millennials do not feel financially ready for homeownership. This, in addition to the housing shortage and pandemic-related housing shifts, has led to a space in the housing market that BTR has been able to fill successfully.

3. BTR is a Proven Concept

BTR has passed through its initial concept phase and the model has been successfully operating for several years. Because of this, operational data is readily available, enabling investors to make more educated decisions.

How Redwood Fits into the BTR Equation

When looking at the signature strategy that has driven Redwood for over 30 years—the focus on creating quality, single-story rental homes for residents—Redwood has been in the BTR space longer than the term has been popular jargon. Each Redwood apartment home is found in a real neighborhood and laid out in one of our signature open floor plans, with two bedrooms, two bathrooms, an attached garage and a dedicated street address.

Plus, unlike others in the industry, Redwood is a 100% ground-up construction development and property management company that doesn’t sell its neighborhoods of apartments once they are leased up.

Redwood's Equity Program

The Redwood Equity Program is a unique investment opportunity that allows accredited investors the chance to connect with Redwood and our team to build upon a 30+ year history of successful expansion and the goal of reinventing the apartment home.

Build-to-Rent Developer, Redwood Living, Inc., Welcomes Accredited Investors to Fund Future Apartment Neighborhoods through the Redwood Equity Program

Fri, 20 May 2022 22:57:28 GMT

Redwood Living, Inc. is Excited to Welcome New Investors

Build-to-rent developer of single-story apartment homes, Redwood Living, Inc. , announces the launch of its equity program, a vehicle to enable accredited investors to participate as partners in the funding of new Redwood Apartment Neighborhood developments.

Redwood manages 14,000+ apartment homes in more than 100 neighborhoods throughout Ohio, Michigan, Indiana, Illinois, Iowa, North Carolina, South Carolina, and Kentucky. New construction will begin in Nebraska this year, with more potential projects on the horizon in Missouri. Redwood’s long-term vision includes a Redwood Apartment Neighborhood in the metropolitan area of every major American city.

“At Redwood, we are committed to providing an apartment home to the individual seeking an accessible, upscale lifestyle that accentuates an idyllic, comfortable, and maintenance-free living experience,” said Toney Morton, Chief Financial Officer. “The Redwood Equity Program is a unique investment opportunity that allows accredited investors the chance to grow with Redwood, partnering with our team to build upon a 30+ year history of successful expansion.”

Redwood's equity program will support Redwood’s vision to reinvent the apartment home by allowing accredited investors to build wealth, offering more residents the comforts of home without the stresses of home ownership and being a local partner in our communities by actively supporting area businesses and giving back.

Redwood provides its residents top-notch, highly rated customer service exceeding industry averages on reviews and ratings scores at all stages of the resident journey. The company also provides options for customization and flexibility for renters, unlike any other in the rental industry.

Each new Redwood apartment home includes two bedrooms, two bathrooms, an attached two-car garage, and a dedicated street address. Redwood’s signature design also provides residents:

Spacious, eat-in kitchens with large pantries
Airy open floor plans and vaulted ceilings
Large closets and ample storage throughout the apartment home
Washer and dryer hookups
Full-size appliances
Upgraded finishes and features
Pet-friendly accommodations
Green-centric neighborhood settings
Bonus space that can be utilized based on lifestyle needs, such as a home office or gym

The current rental rate range for a Redwood apartment home is $1,300 to $2,500 per month, with an average resident tenure exceeding two years.

“We are thrilled to provide accredited investors the opportunity to join us in our commitment to expand our highly successful concept across the nation,” said Morton.

For those interested in learning more about investments in one of Redwood's remarkable neighborhoods, the Redwood Investor Relations team can be reached at 216.360.9441 or by filling out a contact form .