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Neology Group raises $175M for multifamily expansion in Florida
The capital positions the Miami developer to target about $1 billion in multifamily deals across Florida and the Southeast as the national apartment pipeline hits its lowest share of existing stock since 2013.
HousingWire reports that Miami-based Neology Group raised $175 million in new capital to position for about $1 billion in multifamily deals in Florida and the Southeast. The company said the funding comes as the national apartment construction pipeline has shrunk to its lowest share of existing stock since 2013.
Neology’s founder Lissette Calderon said she could not disclose the names of the new investors. She added that the raise includes new institutional investors joining Neology’s capital base, alongside family offices and private investors that have partnered with the firm for years.
HousingWire notes that apartment development and equity investment pulled back starting in 2022 as interest rates and construction costs climbed. Neology’s funding is part of a broader shift toward preparing for the next phase of apartment scarcity, while renter demand has shown resilience and is outpacing new deliveries.
The firm has developed more than 2,000 condos and 5 million square feet of residential space in Florida over the past 20 years, primarily in Miami. Neology manages about 1,000 apartments and has another 4,500 units in its pipeline, and it is also pursuing district-scale projects that combine housing with retail, hospitality, and cultural space.