RICHMOND, Va., March 7, 2019 /PRNewswire/ -- HHHunt Corporation, a diversified regional leader in real estate development, building and management for over 50 years, announced a $300 million investment in the development of new multifamily communities.
HHHunt's revenue surpassed $500 million in 2018 and has grown by over 70% in the past five years. The company is actively pursuing new development opportunities in 2019.
"After five years of strong growth, 2019 is poised to be another stellar year for HHHunt," said Dan Schmitt, president and COO of HHHunt. "As one of the Mid-Atlantic's largest regional real estate leaders, we're committed to expanding that growth through intentional, strategic development opportunities. Our diversification, along with a guiding principle of reinvesting 90 percent of our annual profit, positions HHHunt for continued success."
HHHunt's Apartment Living division will open three new communities this year in Virginia, including Abberly Waterstone in Stafford, VA, Abberly Avera in Manassas, VA and Abberly Centerpointe in Richmond, VA.
In Raleigh, NC, Abberly Solaire remains under construction with its first apartments to be complete in 2019.
In Waldorf, MD, the second phase of Abberly Square will begin construction this year. Construction also will begin in 2019 on Abberly Liberty Crossing in Charlotte, NC. These six communities in Virginia, North Carolina, and Maryland represent more than 1,500 new apartment homes and $300 million in total investment in multifamily development.
"Our vision is to improve the world and how people live," said Janet Riddlebarger, president of HHHunt's Asset Management Group. "Our continued investment highlights our confidence in the quality communities we develop and our incredible teams."
HHHunt Apartment Living owns and manages nearly 8,000 apartment homes in Virginia, North Carolina, South Carolina and Maryland. For more information, visit www.hhhunt.com.
Since 1966, HHHunt has grown into a diversified leader in real estate development throughout the Mid-Atlantic. Its five divisions, HHHunt Apartment Living, HHHunt Communities, HHHunt Homes, HHHunt Properties Development and HHHunt Senior Living, are recognized leaders in their sectors with communities in Virginia, North Carolina, South Carolina and Maryland. HHHunt improves the lives of thousands of people by being a trusted partner in every phase and stage of their lives. Because at HHHunt, it's how you live that matters. For more information, visit: www.hhhunt.com.