At Richardson, we primarily invest cash alongside developers in ground-up development projects, but we also partner with experienced operators to acquire and reposition existing real estate—particularly when there’s a clear value-add opportunity or a compelling repositioning strategy.

Our typical equity investment ranges from $1 million to $25 million per deal, depending on the asset type and opportunity.

These investments are made alongside our partners’ additional equity and debt contributions. In many cases, our partners roll some or all of their market-based fees—such as development and construction fees—into the project and often contribute their own capital, ensuring true alignment and shared risk.

We are especially drawn to projects in unique, amenity-rich locations that help set our developments apart. Some of our past successes have featured standout advantages like private boat ramps, proximity to beaches or parks, walkable retail, and integrated mixed-use environments, all of which support a stronger market position beyond price competition.

Our approach is built around long-term relationships. Many of our development partners are repeat collaborators who’ve brought us multiple deals over time. While we act as co-managers on most projects, the development partner typically handles the day-to-day responsibilities. Richardson remains involved in key decisions—such as development planning, refinancing, or sale—and empowers its asset managers to act quickly, with our investment committee meeting on demand to support time-sensitive opportunities.

We typically use pro-rata, pari passu ownership structures, though in some cases we’ve offered sweat equity for operators who bring significant value to the table. Our hold period is flexible—ranging from exits at completion to ownership spans exceeding 30 years. On average, we hold assets for a medium term but remain open to doing what’s best for the asset on a case-by-case basis.

A few additional notes about how we partner:

• We provide pro-rata loan payment guarantees and share in completion guarantees.
• We are comfortable with a variety of partner sizes, from smaller boutique firms to large public and private developers.
• We continue to focus on commercial, residential, and mixed-use projects—especially across the Southeast—with an eye toward both core and emerging markets.

At Richardson, we are always looking to partner with aligned, experienced teams and build long-term value together.