A new trend signaling the modernization of the single-family property management industry. What was once all local ‘ma and pa' businesses has become national-business platforms now designed for Wall Street backed banks and real estate investment funds.
SALT LAKE CITY, UT / ACCESSWIRE / August 15, 2023 / Inc. revealed today that Northpoint Asset Management, Inc. ranks No. 2,380 on the 2023 Inc. 5000 list, for the fourth consecutive year, of the fastest-growing private companies in America. The prestigious ranking provides a data-driven look at the most successful companies within the economy's most dynamic segment-its independent, entrepreneurial businesses. Facebook, Chobani, Under Armour, Microsoft, Patagonia, and many other household name brands gained their first national exposure as honorees on the Inc. 5000.
Northpoint's Chairman and CEO, John M. Laviter said about the ranking, "as we reach new heights in our ranking and continued growth it is incumbent upon Northpoint to maintain the same basic methods that brought our success in the first place. That means we resist the temptation to be lazy, but instead amplify hard work, a positive attitude - which is increasingly harder to do, use the most efficient best practices in our industry, and endeavor to operate at a world-class level which each member of Northpoint can be proud of."
For as long as anyone living can remember, single-family property management has been a service offered by local 'ma and pa' type property managers - that has all changed in the last decade. Now, national single family non-franchised property management platforms driven by technology and centralized operations are dominating the space. Northpoint, together with industry peers like Home River Group, Evernest, and Pure, are racing to capture the opportunity to modernize the old property management model. It's working. These national platforms now manage tens of thousands of single-family properties nationwide, many of which are owned by Wall Street backed real estate investment funds.
The Inc. 5000 class of 2023 represents companies that have driven rapid revenue growth while navigating inflationary pressure, the rising costs of capital, and seemingly intractable hiring challenges. Among this year's top 500 companies, the average median three-year revenue growth rate ticked up to an astonishing 2,238 percent. In all, this year's Inc. 5000 companies have added 1,187,266 jobs to the economy over the past three years.
For complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, location, and other criteria, go to www.inc.com/inc5000. The top 500 companies are featured in the September issue of Inc. magazine, available on newsstands beginning Tuesday, August 23.
"Running a business has only gotten harder since the end of the pandemic," says Inc. editor-in-chief Scott Omelianuk. "To make the Inc. 5000-with the fast growth that requires-is truly an accomplishment. Inc. is thrilled to honor the companies that are building our future."
Tyler Hartle, Vice President of Personnel states, "for the fourth consecutive year, Northpoint secured its spot on the prestigious Inc. 5000 list, a testament to its remarkable growth trajectory. This achievement is credited to Northpoint's unwavering commitment to foster a down-to-earth and uplifting culture, which forms the backbone of the Northpoint's continued success."
About Northpoint Asset Management, Inc
Northpoint Asset Management, Inc is an institutional Private Equity Real Estate Investment and Management Company with 40+ office locations across the US; providing services and orchestrating more than $5.5 billion in real estate assets nationwide. Northpoint manages both commercial and residential real estate for thousands of clients across the US, including some of the world's largest-institutional investors.
CONTACT:
Office: 801-532-8465
[email protected]
www.NorthPointAM.com
More about Inc. and the Inc. 5000
Methodology
Companies on the 2023 Inc. 5000 are ranked according to percentage revenue growth from 2019 to 2022. To qualify, companies must have been founded and generating revenue by March 31, 2019. They must be U.S.-based, privately held, for-profit, and independent-not subsidiaries or divisions of other companies-as of December 31, 2022. (Since then, some on the list may have gone public or been acquired.) The minimum revenue required for 2019 is $100,000; the minimum for 2022 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. Growth rates used to determine company rankings were calculated to four decimal places.
About Inc.
Inc. Business Media is the leading multimedia brand for entrepreneurs. Through its journalism, Inc. aims to inform, educate, and elevate the profile of our community: the risk-takers, the innovators, and the ultra-driven go-getters who are creating our future. Inc.'s award-winning work reaches more than 50 million people across a variety of channels, including events, print, digital, video, podcasts, newsletters, and social media. Its proprietary Inc. 5000 list, produced every year since 1982, analyzes company data to rank the fastest-growing privately held businesses in the United States. The recognition that comes with inclusion on this and other prestigious Inc. lists, such as Female Founders and Power Partners, gives the founders of top businesses the opportunity to engage with an exclusive community of their peers, and credibility that helps them drive sales and recruit talent. For more information, visit www.inc.com.
SOURCE: Northpoint Asset Management