Business Details
40 Years
experience
Trusted Property Management & Luxury Apartment Development
Since 1986, The Richman Group has established itself as a leader in residential property management and development, consistently ranking among the top 10 largest apartment portfolios in the United States. With 12 regional offices spanning coast to coast, we specialize in luxury rental apartments and affordable housing, operating across 49 states, Washington, DC, Puerto Rico, Guam, and Saipan. Our vertically integrated team executes every phase of development, from land acquisition and governmental approvals to construction and long-term asset management.We prioritize customer service, environmental responsibility, and community impact, maintaining a diverse workforce where 54% of staff identify as minorities and 46% are women. Our philosophy centers on innovation, economic optimization for clients, and delivering exceptional residential experiences. With $28 billion in total development costs and over 166,500 units under management, we combine 35+ years of expertise with a forward-thinking approach to remain an industry leader.
Services
Property Management
Asset Management
Luxury Development
Affordable Housing
Equity Investment
Tax Credit Originations
Mortgage Services
Investor Relations
Resident Services
Land Acquisition
Details
- Year established: 1986
Highlights and features
- We have over 35 years of experience in residential property management and development
- Our team executes all phases of development in-house from concept to completion
- We maintain a diverse workforce with 54% minority representation and 46% women
- Our portfolio spans 49 states with expertise in both luxury and affordable housing
- We prioritize environmental responsibility and community impact in every project
Services
Property Management
We manage over 166,500 residential units nationwide with dedicated on-site teams. Our services include maintenance, leasing, resident relations, and compliance management. With operations in 49 states, we ensure consistent quality through localized expertise and centralized support systems.
Luxury Development
We develop high-end rental apartments in major markets like Florida, California, and New York. Our process includes site selection, design, construction, and long-term management. Each property combines modern amenities with sustainable building practices to meet market demands.
Affordable Housing
Since 1986, we've been a leading participant in affordable housing initiatives. Our team secures tax credits, navigates regulatory requirements, and creates mixed-income communities that address housing needs while maintaining financial viability for investors.
Asset Management
We optimize property performance through strategic financial planning and operational oversight. Our services include budgeting, capital improvements, investor reporting, and market analysis to maximize returns across both luxury and affordable housing portfolios.
Land Acquisition
Our experts identify and evaluate development opportunities nationwide. We handle due diligence, zoning analysis, and entitlement processes to secure optimal locations for both market-rate and affordable housing projects with long-term growth potential.
People
Richard Paul Richman
Founder
Founded The Richman Group in 1986 to develop affordable housing. Under his leadership, the company grew into a top 10 U.S. residential portfolio with $28B+ in development experience across 49 states.
Theresa Eastwood Davis
President
Leads property management operations with over 20 years of experience. Oversees 166,500+ units nationwide, focusing on resident satisfaction and operational excellence through Richman Property Services, Inc.
Rick Westberg
Development Executive
Manages West Coast development initiatives from Newport Beach, CA. Specializes in luxury apartment projects with expertise in navigating California's complex regulatory environment for high-end residential developments.
Todd Fabbri
Florida Director
Directs Florida market operations from West Palm Beach. Focuses on both luxury and affordable housing developments, leveraging local market knowledge to execute successful projects across the Sunshine State.
Brian Myers
Investor Relations
Manages corporate investor services from Greenwich, CT. Specializes in portfolio reporting and financial optimization strategies for clients investing in both market-rate and tax-credit properties nationwide.
Questions
What services does The Richman Group offer?
We provide property management, luxury apartment development, affordable housing solutions, asset management, equity investment services, and resident-focused operations nationwide.
Where does The Richman Group operate?
Our properties span 49 U.S. states, Washington, DC, Puerto Rico, Guam, and Saipan through 12 regional offices.
Does The Richman Group offer financing options?
Yes, we provide mortgage originations and tax credit investment opportunities through our specialized departments.
What makes The Richman Group unique?
We combine 35+ years of experience with in-house expertise across all development phases and maintain a diverse workforce committed to community impact.
