Real estate is a highly lucrative industry that has historically been dominated by non-minority groups. However, there's no doubt that Black excellence is everywhere, and the real estate industry is no exception.
In recent years, there has been a surge in Black-owned real estate companies that are making a name for themselves in the industry. These companies are not only breaking barriers and paving the way for other minority groups to enter the industry, but they are also contributing to the growth and development of local communities.
Image: A meeting of Black-owned real estate companies.
In 2023, the market size of the Real Estate Sales Brokerage industry in the U.S. is reported to be at $222.3 billion. Every year, many Black real estate agents close huge sales, and several Black-owned real estate companies make billions of dollars. Some of these firms were founded decades ago, while some are relatively new to the market. Black professionals in the industry are also stepping up in this new age. More and more individuals are making an effort to secure a real estate license so that they can become a qualified real estate agent, Realtor, or real estate broker.
From owning to managing to operating properties in different states in the U.S., here are 10 notable Black-owned real estate companies that are making great strides in the real estate industry.
Capri Investment Group
Image: Quintin E. Primo III, Founder of Capri Investment Group.
Capri Investment Group is a leading real estate investment management firm headquartered in Chicago, Illinois. Founded by Quintin E. Primo III in 1992, the company specializes in acquiring, developing, and managing commercial real estate properties across the United States. Their diverse portfolio includes office buildings, retail centers, industrial properties, and multifamily housing units. Capri Investment Group focuses on properties located in high-growth markets with strong cash flow potential.
Apart from its real estate investment activities, Capri Investment Group is committed to making a positive impact on the communities in which it operates. They have initiatives in place to promote economic development, support local businesses, and create affordable housing opportunities.
CB Emmanuel Realty
Image: Christopher Bramwell Jr., Co-Founder of CB Emmanuel Realty.
CB Emmanuel Realty is a Black-owned real estate company based in Houston, Texas. Established in 2005 by Christopher Bramwell Jr. and Benathan Upshaw, their mission is to create affordable and high-quality housing and community assets that serve and uplift the residents. With a diverse team of professionals, including experts in real estate finance, construction management, architecture, urban planning, and property management consulting, CB Emmanuel Realty has invested in 30 projects valued at roughly $500 million.
Elite Realty Partners, Inc.
Image: Tenisha Williams, Founder of Elite Realty Partners, Inc.
Elite Realty Partners, Inc. was established in 2018 by Tenisha Williams, a real estate broker. Based in Ft. Lauderdale, Miami, it is currently the largest Black female-owned real estate firm in the area. Elite Realty Partners specializes in high-end residential real estate sales in Florida, distressed property management, short sales, BPO, and REO services. Williams, named one of Florida's top 100 realtors, has built a team of over 150 real estate agents who have collectively closed over $130 million in sales in just 2 years.
What sets Elite Realty Partners, Inc. apart is their commitment to providing top-notch services to each client. They understand the complexities of the home buying process and prioritize their clients' needs and dreams.
Emmitt Smith Advisors
Image: Emmitt Smith, Founder of Emmitt Smith Advisors.
Emmitt Smith Advisors is a real estate development firm founded by NFL Hall of Fame running back, Emmitt Smith, in 2005. The company is a leading provider of real estate solutions and is part of a global network with operations in more than 400 offices worldwide. With a focus on integrity, innovation, and fresh insight, they offer services such as property management, investment sales, capital markets, valuation and advisory, and lease management.
As a Minority-owned business, Emmitt Smith Advisors places a lot of emphasis on diversity, equity, and inclusion practices. They strive to establish long-lasting partnerships based on trust and consistent results.
H.J. Russell & Company
Image: Herman J. Russell, Founder of H.J. Russell & Company.
H.J. Russell & Company is a construction and real estate development firm based in Atlanta, Georgia, USA. Founded by Herman J. Russell in 1952, the company started as a plastering company and later expanded into developing and managing rental properties. They have been involved in many high-profile construction projects, including the Georgia Dome, Atlanta Marriott Marquis hotel, and the Mercedes-Benz Stadium. Today, their services include construction, real estate development, property management, and program management.
Diversifying their portfolio has been a key focus for H.J. Russell & Company. They are dedicated to creating sustainable real estate investments and making a positive difference in the communities they serve.
Integrated Capital LLC
Image: Kenneth H. Fearn, Founder of Integrated Capital LLC.
Integrated Capital LLC is a private equity real estate firm based in Los Angeles, California. Founded by Kenneth H. Fearn in 2004, the firm focuses on hospitality investments. They have acquired over $500 million in hospitality assets across the United States. Their expertise includes asset management, renovation/development, financing, consulting, and repositioning.
MacFarlane Partners
Image: Victor B. MacFarlane, Founder of MacFarlane Partners.
MacFarlane Partners is a real estate investment management company that has been providing services to institutional investors since 1987. With a focus on sustainability and urban regeneration, they have developed a track record of success in developing new real estate projects and managing assets to higher value. They currently have $2.2 billion in investor equity and $6 billion in managed properties.
Omni New York, LLC
Image: Maurice Vaughn, Co-Founder of Omni New York, LLC.
Omni New York, LLC is a full-service real estate development company founded in 2004 by Maurice "Mo" Vaughn, a former Major League Baseball first baseman, and Eugene Schneur. Their focus is on creating quality and affordable housing that is well-managed, specifically for historically underserved communities. Since their inception, they have owned and managed 17,000 units of affordable housing in 11 different states.
Omni New York is committed to improving the quality of life in the communities they serve. They provide not only quality housing but also vital social services, aiming to strengthen the bonds among people in the neighborhoods.
RLJ Lodging Trust
Image: Robert L. Johnson, Founder of RLJ Lodging Trust.
RLJ Lodging Trust is a publicly traded real estate investment trust founded in 2000 by Robert L. Johnson, the founder of BET. They focus on owning premium full-service hotels, with 95 hotels in their portfolio located in 22 states and the District of Columbia. The hotels operate under recognized global brands like Marriott, Hilton, and Hyatt. RLJ Lodging Trust aims to provide exceptional hospitality experiences in major urban areas.
The Peebles Corporation
Image: Don Peebles, Founder of The Peebles Corporation.
The Peebles Corporation is the most successful Black-owned real estate company in the U.S. Founded by Don Peebles in 1983, the privately held national real estate investment and development company specializes in residential, hospitality, retail, and mixed-use commercial properties. They have built an impressive portfolio of developments in gateway cities across the country, totaling over 10 million square feet and $8 billion.
For over 35 years, The Peebles Corporation has been guided by their Affirmative Development™ principles, empowering women and minorities, creating generational wealth, and closing the wealth gap.
Resthaven Properties: Luxurious Black-Owned Vacation Properties
Image: Resthaven vacation property.
If you're looking to invest in a collection of luxurious Black-owned vacation properties, Resthaven Properties is an excellent opportunity for you. Resthaven Properties focuses on acquiring vacation properties across the world's best travel destinations for predictable income and appreciation. They operate under membership options that disrupt traditional lodging and timeshare accommodations by implementing a pay once and use for a lifetime strategy.
Resthaven Properties intentionally supports diverse vendors in each property, contributing to the growth and development of minority-owned businesses.
Why You Should Consider Working With a Black-Owned Real Estate Company
Working with a Black-owned real estate company can provide a number of benefits, including:
Supporting Minority-Owned Businesses
By choosing to work with a Black-owned real estate company, you are supporting the growth and development of minority-owned businesses. This can promote economic empowerment and create more opportunities for diverse communities.
Understanding Unique Perspectives and Experiences
Black-owned real estate companies may offer unique perspectives and experiences that provide valuable insights into the market. This diverse approach can contribute to a more comprehensive and inclusive real estate industry.
Building Relationships with the Local Community
Black-owned real estate companies are often deeply rooted in their local communities, with strong connections to local businesses and organizations. By working with them, you can build stronger relationships and contribute to community development.
Fostering Diversity and Inclusion
Supporting Black-owned real estate companies can help promote diversity and inclusion in the industry. By creating a more diverse and inclusive marketplace, we can create equal opportunities for everyone.
Bay Street Capital Holdings
Image: Bay Street Capital Holdings - Real Estate and Investment Firm.
Bay Street Capital Holdings is an independent investment advisory, wealth management, and financial planning firm headquartered in Palo Alto, CA. Their goal is to maintain and increase total assets and income while managing total risk and volatility. Founded by William Huston, who has extensive experience in supporting the United States' largest retirement plan, they prioritize managing risk and volatility over maximizing returns.
Bay Street Capital Holdings advocates for diverse and emerging fund managers and entrepreneurs, working towards creating a more inclusive and equitable financial industry.
Conclusion
These 10 Black-owned real estate companies are not only making great strides in the industry but also contributing to the growth and development of their local communities. By supporting these businesses or considering working with them, you can play a part in promoting diversity, inclusion, and economic empowerment. Together, we can build a more equitable real estate industry for everyone.
Disclaimer: The contents of this article are for educational purposes only and not intended to be a source of professional financial advice. Consult experts in financial planning, financial management, and real estate for personalized guidance.
