
The Promise Homes Company
Institutional-quality investment platform.
Date | Investors | Amount | Round |
---|---|---|---|
investor | €0.0 | round | |
investor | €0.0 | round | |
* | N/A | N/A | Debt |
Total Funding | 000k |
USD | 2021 | 2022 | 2023 |
---|---|---|---|
Revenues | 0000 | 0000 | 0000 |
% growth | - | 17 % | 156 % |
EBITDA | 0000 | 0000 | 0000 |
Profit | 0000 | 0000 | 0000 |
EV | 0000 | 0000 | 0000 |
EV / revenue | 00.0x | 00.0x | 00.0x |
EV / EBITDA | 00.0x | 00.0x | 00.0x |
R&D budget | 0000 | 0000 | 0000 |
Source: Dealroom estimates
Related Content
The Promise Homes Company operates as a single-family residential rental property asset manager with a distinct focus on social impact. Founded in May 2017 by entrepreneur and philanthropist John Hope Bryant, the Atlanta-based firm is recognized as one of the largest minority-led managers of institutional-quality, single-family rental homes in the United States. Bryant, also the founder of the non-profit Operation HOPE, established Promise Homes to create a new dynamic between property owners, residents, and the community, leveraging a business model of 'doing well by doing good'. His background in championing financial literacy and economic empowerment is central to the company's philosophy.
The company's primary business involves acquiring and managing portfolios of single-family homes, with a concentration in working-class and middle-class communities. Its revenue is generated through rental income from these properties. The target market consists of individuals and families with modest incomes, often in the $40,000 to $50,000 range, who may be living paycheck-to-paycheck. A significant milestone was the January 2022 announcement of a $200 million debt facility from Barings, part of a major recapitalization to scale its portfolio with the goal of reaching over 10,000 homes.
What sets Promise Homes apart is its integrated approach to property management, which treats residents as partners. The company provides tenants with complimentary access to financial wellness services through a partnership with Operation HOPE. These services include financial literacy education, credit counseling, and resources aimed at improving residents' credit scores and financial stability. Unique incentive programs are also a core feature, such as the '700 Credit Score Club' and a 'Life Event Credit,' which rewards consistent, on-time rent payments with a credit equal to one month's rent. Furthermore, the company demonstrates a commitment to community economic development by contracting with local, minority- and women-owned businesses for property maintenance and repair services, creating a sustainable local supply chain. Keywords: single-family rentals, impact investing, affordable housing, financial literacy, property management, community development, resident empowerment, social impact, real estate investment, minority-owned business