Chasen Companies acquires and develops multifamily, commercial, and single-family properties in the Greater Baltimore and Washington DC markets with a growing footprint across the U.S. Today, Chasen Companies has more than 55 buildings in its real estate portfolio, containing thousands of apartments and over two hundred thousand square feet of commercial space. The business model has resulted in exponential revenue growth, landing Chasen Companies back-to-back No. 1 rankings on the Inc 5000 Regionals DC Metro list in 2020 and 2021 and No. 18 on the Inc 5000 National list for fastest growing companies respectively.
The firm’s real estate model is unique for the CRE industry. Chasen targets properties on the edge of emerging pockets of wealth that will benefit from the lack of demand in those areas with low acquisition prices. Despite the low acquisition costs, the rental market is strong and demands higher rents in proportion to acquisition.
What began as a focus in the Baltimore and DC region has strategically expanded to a nationwide vision for growth. Chasen’s acquisitions team is pursuing land development opportunities, ground-up construction, and repurposing interiors of Class C properties in various states across the U.S. The firm recently launched a project to build luxury mountain homes on a former sheep farm in Utah.
The company's growth is not limited to housing. Chasen Companies opened a luxury yacht rental venture in the Bahamas in 2021. The firm discovered that just as they found success in the real estate business by upgrading Class C assets to Class A, they found the same opportunity in the yacht charter industry, one with many similarities to real estate. Both have varying classes of tangible assets with a clear trackable market value that can be significantly increased with modernization.
Chasen Companies continues to seek opportunities for new investment opportunities today.
Opportunities in Baltimore
Currently, more than 95% of the Chasen portfolio is in Baltimore. Long term, the team sees the potential for high-income pockets in Baltimore to mirror what has developed over the last 25 years in areas of DC and Philadelphia.
Professionals are drawn to Baltimore for Federal Government jobs, education, healthcare, biotech, cybersecurity, and finance industries. At this time, it's tough to compare Baltimore to any other major US city. Baltimore is a "pocket-centric" city, meaning people with high income tend to only live in particular areas (Fells Point, Federal Hill, Mount Vernon). Chasen’s business model is to invest in those specific areas and build boutique, amenity rich living environments.