JLB Partners, a Dallas, TX-based developer and builder of Class A multi-family assets in select U.S. markets, is receiving a significant capital investment from Compatriot Capital.
Following the investment, Compatriot will become a minority shareholder in JLB. The management of the company will remain on board. As part of the transaction, whose amount was not disclosed, Paul E. Rowsey, president and CEO of Compatriot Capital, Heather Kreager, chairman of Compatriot, and Mark Van Kirk, senior vice president of Compatriot, will join JLB’s board of directors.
Formed in 2007 and led by CEO Bay W. Miltenberger and chairman James L. Bosler, JLB Partners currently has nearly $1 billion in projects under development in Dallas, Austin, Houston, Charlotte, Atlanta, Washington, D.C., and Phoenix, with approximately 5,100 units under construction, and another $1.1 billion in its pipeline with an additional 6,000 units slated for future development.
The company has offices in Atlanta, Phoenix, Washington, D.C., and Miami.