Longtime affordable housing developer and owner Herman & Kittle Properties will become Kittle Property Group on Jan. 1. The firm also has moved its corporate headquarters, purchasing a new, larger building adjacent to its previous location on the north side of Indianapolis.
The name change is a natural evolution for the company, following the recently completed ownership transition to Jeffrey L. Kittle from Thomas E. Herman, following Herman’s retirement. Kittle will maintain sole ownership of the company.
Kittle Property Group is a national leader in developing, constructing, and managing over 20,000 quality affordable and market-rate multifamily apartment homes with invested capital of more than $2.5 billion. It currently owns and manages over 18,000 units in 19 states, providing homes to more than 30,000 family members.
“Over the years, we have assembled an exemplary leadership team with more than 200 years of combined experience. Together with this leadership team, our valued team members, and business partners, I look forward to continuing Herman & Kittle Properties’ longstanding legacy and strong reputation,” said Kittle, president and CEO. “While it is important to evolve for the future, it is also important to remain faithful to the mission, vision, and values that have shaped our success and allowed us to serve as a catalyst to local economies by sustaining families, neighborhoods, and businesses.”
The new office offers more efficient work areas and expanded space for team members and represents a new chapter of growth for the company, according to Kittle.
“Despite global economic challenges, the multifamily residential real estate market remains resilient, and the long-term outlook for the affordable and market- rate segment is healthy,” he said. “The timing is right for Kittle Property Group to position itself for continued strength, growth, and success with more than $400 million in closed development in 2020.”
