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:

• Redwood Omaha Wenninghoff Road (NE)
• Redwood Powell (OH)
• Redwood Bennington (NE)
• Redwood Delaware Merrick Blvd (OH)
• Redwood Batavia Township (OH)
• Redwood Whiteland (IN)

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.