Lone Tree Partners
Vertical integration.
One mission. Four operating entities. Alignment from the ground up.
Our operating model
A national footprint.
A connected approach.
A national footprint requires proprietary processes and strategic relationships. We have spent years refining both.
From data-based, collaborative relationships with city partners to sourcing talent in local markets, our operating entities ensure alignment and execution across our development strategies.
The Lone Tree platform
Built to work together.
01 / Capital
Lone Tree Partners
Capital and asset management, connecting investors with the Lone Tree development mission.
02 / Land & development
Lone Tree Land & Development
Bringing land, city relationships and development strategy together.
03 / Communities
Lone Tree Communities
Turning a shared housing vision into communities.
04 / Property management
Ameritrue Property Management
Connecting community operations with the resident experience.
How we operate
Underwrite. Finance.
Build. Report.
Lone Tree is a newer sponsor built by people who spent their careers on the lending, construction and procurement side of residential real estate. We built the platform around the practices that separate projects that finish from projects that fail. This section explains how we underwrite, finance, build and report.
75% to 78%
Target loan to cost
1.20x
Minimum debt service coverage
8%
Hard cost contingency
4
In-house operating companies
01 / Underwriting
Underwriting standards
Every community is underwritten to written standards before it reaches our investment committee. We start from current rents and current construction costs, then treat rent growth as upside rather than as the case that makes a deal work. A deal that misses these minimums does not move forward.
Each market also has defined go/no-go triggers tied to local employment, absorption & permit pipeline, reviewed frequently before we commit capital to vertical construction.
02 / Capital
Capital structure
We target 75% to 78% loan to cost and hold that line even when our lenders allow for higher leverage. Most of our deals are structured to have land, site work & operating reserves funded with equity before any construction debt is placed. We have declined financing when fees or extension terms put the project at risk. We put a significant amount of time and effort to collaborate with local talent in our markets, including mission-aligned regional and community banks.
03 / Construction
Construction and reporting
Lone Tree Communities manages construction from pre-construction through substantial completion. Investors receive quarterly reports through our investor portal. Reports cover budget vs actual, financials, schedule vs plan, contingency remaining, site imagery, and leasing progress once units deliver.
04 / Governance
Governance and alignment
Lone Tree operates four affiliated companies: Lone Tree Partners (capital and asset management), Lone Tree Land & Development (land and entitlements), Lone Tree Communities (construction management) and Ameritrue Property Management. Because these companies are affiliated, we disclose operating related fees they each earn on a project.
Vertically integrated to create value at every stage
Build what matters
The right people.
The right alignment.
Cities, local talent and capital—all working toward communities built to last.