Dallas-based Rosewood Property Co., a multifamily investment and development firm, is strengthening its position outside of Texas. The firm has expanded its operations to Charlotte, North Carolina, and has hired Caci Cambruzzi Jaeger to lead the new office, which will provide on-the-ground support for its growing presence in the Carolinas.
“Since starting its multifamily development platform in 2021, Rosewood has delivered the award-winning Tobin Estate apartments in San Antonio, followed by the award-winning Ludlow apartments in Plano. Each community won best-in-market awards, and each placed in the top 10 of Texas’ 2024 lease-ups out of 220 properties analyzed. With this success, Rosewood is now expanding outside of Texas into the Carolinas,” said president Rick Perdue. “Hiring Caci to lead this effort will ensure our continued award-winning success.”
Jaeger brings over two decades of multifamily and mixed-use real estate experience to the role. She previously had been a partner with Charlotte-based Cedar Square, formerly Ascent Real Estate Capital, where she led multifamily development and acquisitions for nearly seven years. During her time with the firm, she oversaw over $300 million of multifamily development and renovation projects.
As senior vice president, Carolinas, she will manage and direct strategic multifamily development activities throughout the region. She also will oversee the office’s operations and staff.
“Caci’s experience and entrepreneurial strengths will help the office grow to find high-quality developments and investments,” added senior vice president Tim Harris. “Given Rosewood’s success in the Texas markets, expanding into the Carolinas continues our strategic growth plan, especially with Caci’s outstanding prior successes and expertise. Rosewood has been actively involved in the Carolinas for several years, partnering with other developers and acquiring projects. We believe we are now well positioned with Caci joining the team to build upon this success in this dynamic market.”
Multifamily Executive caught up with Jaeger to discuss her new role and Rosewood Property Co.’s pipeline.
What drew you to Rosewood Property Co., and what excites you most about leading the Carolinas expansion?
Rosewood Property Co. is well positioned to navigate the current capital markets and economic challenges by leveraging our balance sheet, experience, and development strengths to set us up for success in the Carolinas’ most dynamic submarkets. The team’s existing commitment to excellence and quality as well as a unique development philosophy combine to make this a truly exciting opportunity.
What presence did Rosewood have in the Carolinas before creating this office?
Rosewood Property has been actively involved in the Carolinas for several years, partnering with other developers and acquiring properties. The expansion of an office and presence in Charlotte will allow Rosewood to build on this success.
What makes the Carolinas so attractive for multifamily in the short and long term?
The Carolinas continue to have strong population and job growth. We have been closely tracking the supply absorption and continued demand. With starts slowing dramatically, there is an opportunity to leverage Rosewood’s strengths and produce multifamily developments in well-located pockets of desirable submarkets.
What’s in the pipeline for Rosewood in the Carolinas so far?
We are involved with Union NoDa in Charlotte, which is in preleasing and available this spring. It has 273 apartment homes. We are in negotiations for several other key sites in Charlotte. We envision announcing several projects within the next year to 18 months.
What specific markets will Rosewood be targeting?
Rosewood Property is targeting high-quality, walkable infill opportunities as well as well-located strategic suburban markets, which have the potential for additional growth. Select pockets of Charlotte’s South End, NoDa, South Park, Raleigh/Durham, and other high-growth areas with strong employment drivers remain at the top of the priority list.
