The Garrett Companies Nets 167% Completed Development Increase in 2023

Full-service real estate company expands multifamily portfolio and entities; receives industry recognition amid company growth

INDIANAPOLIS, Oct. 26, 2023 /PRNewswire/ -- The Garrett Companies, a full-service real estate company specializing in multifamily investments, development, construction and asset management, has announced a 167% increase in completed developments in 2023 compared to 2022, alongside several award wins and growth milestones.

The Garrett Companies' growth coincides with the company's focused investment in multifamily developments and its intentional approach to company culture. In 2023 alone, The Garrett Companies completed eight projects across five states and has 27 active construction projects currently in operation — an increase of nearly 13% year over year.

The Garrett Companies expanded its portfolio in 2023 with several new initiatives, including the creation of a Strategic Advisory Board to enhance its scaling operations. Its third commercial property, specialty coffee shop Runway 19, opened to serve the Johnson County community. HVAC contractor BlueStar Mechanical launched with a multifamily specialty. The Garrett Companies also helped launch Telis Group, a fund manager for multifamily developers and operators.

Alongside development growth, The Garrett Companies garnered a total of 13 awards for employee and revenue growth and individual successes, making it the most decorated multifamily company in the nation. Several high-profile accolades for its culture and company include:

• Ranked on the 2023 Inc. 5000 Fastest-Growing Private Companies list, placing at No. 1,569. This is The Garrett Companies' eighth consecutive year earning this recognition, a feat that less than 1% of companies have accomplished.
• Earned No. 20 on the Indianapolis Business Journal Fast 25 list, including being named for the fourth time as one of the fastest-growing Indiana-based companies.
• Recognized in the top 16 of Fortune's 2023 Best Workplaces in Real Estate for the second consecutive year, ranking No. 1 for Indiana-based companies.
• Listed as a 2023 Top Workplace by the Denver Post for the second consecutive year and by the IndyStar for the fifth straight year.
• Ranked seventh on Best Places to Work in Multifamily for Women and earned eighth on Best Places to Work in Multifamily, both for the second consecutive year.
• Earned a Great Place to Work certification for the sixth consecutive year in 2023.
• Accredited by Top Workplaces USA for the second consecutive year.

"I started The Garrett Companies to create a company and culture conducive to collaboration, growth and innovation," said Eric Garrett, CEO of The Garrett Companies. "Over the years, our team has exceeded my expectations. These accomplishments are a direct testament to their hard work and dedication. In the next year, with the help of our Strategic Advisory Board, we'll accelerate this growth trajectory."

In 2023, The Garrett Companies welcomed 100 team members while boasting a 3.9% voluntary turnover rate. The company promoted 11 employees to new leadership positions, reflecting the company's commitment and confidence in the future of the business, including these promotions into senior leadership roles:

• Rob Martinson to president.
• Steve Flick to executive vice president of construction.
• Jonathan Byrd to executive vice president of construction.
• Jamie Allen to executive vice president of corporate operations.

In addition to talent growth, The Garrett Companies relocated its Colorado team into the Denver Tech Center, expanded its operations presence into Nashville, Tennessee, and opened its third corporate office in Carmel, Indiana, about 20 miles from the company headquarters in Greenwood.

To learn more about The Garrett Companies and its recent achievements, please visit www.thegarrettco.com.

About The Garrett Companies
The Garrett Companies is a full-service Multifamily Development, Construction, and Asset Management team. Their team of experts works in unison to entitle, develop, and build multifamily projects across the country. They are currently active in 6 states and have completed over 50 projects in 17 states. After delivering over 16,000 apartment homes since 2014, they have become industry leaders in forecasting trends and delivering living options that find quick success in the marketplace. Their proprietary market research criteria, paired with a disciplined business model reduces risk and allows the creation of desirable, high-end multifamily housing that produces superior risk-adjusted returns. As a complement to high-end multifamily developments, they also specialize in mixed-use, retail, office, and restaurant development.

Contact:
Christy Dean
BLASTmedia for The Garrett Companies
garrettcompanies@blastmedia.com

SOURCE The Garrett Companies