We provide equity capital for the development and acquisition of multifamily, commercial, and mixed-use real estate that generate stable current returns and long-term capital appreciation for our investors. Headquartered in Washington, D.C., Freedom Development deploys capital alongside high net-worth family offices and institutions in carefully structured transactions to best realize value and reduce risk. Our principals have worked together for over two decades in both developing and developed markets, allowing us to act as an innovative and agile capital partner with a long-term commitment to our asset class.
Our investment strategy is to work in partnership with a stable of highly experienced regional sponsors that provide diversified deal flow, strong local market knowledge, and detailed property management expertise. We provide cash equity on a deal-by-deal basis to ensure flexibility and control. We target geographic locations with growing populations and diverse economic job centers. Overall, our goal is to improve the physical and operational standards of every asset we own to provide a comfortable and clean place for people to live.
Freedom Development invests with a variety of equity partners, including private equity funds, investment banks, family offices, and high-net-worth individuals. Our principal financial goal is to increase long-term value through the development, redevelopment, acquisition, operation, and when appropriate, disposition of apartments in our markets.
We focus on properties that need improvement, both physical assets and managerial. Our development and property management partners specialize in the assets we acquire and are experts in their sub-markets. When we undertake the re-development of a property, our goal is to renovate or rebuild so that our total investment remains below replacement cost and the community is well positioned in the market to achieve attractive returns on our capital.
As owners, Freedom Development repositions acquired assets by:
As direct investors, we are able to hold assets over both short-term and long-term periods and are never forced sellers when conditions are less than opportune.
Protect and preserve capital while meeting the expectations of our co-investors
Operate with integrity, honesty, and fairness, while providing the optimum environment for operational growth.
Align our interests with our employees, tenants and co-investors.
Invest in assets and businesses that we understand, while procuring third party managers who share in our principals and bring unique local expertise.
Pursue creative operating solutions that offer residents lifestyle advantages, design excellence, and quality construction and management services.
G. Philip Stephenson
Chairman
Philip Stephenson is Chairman of the Freedom Group, a set of companies focused on portfolio investing, real estate, and hotel development, and co-Founder of Freedom Development. From 2002 until its sale in 2007, Mr. Stephenson was a shareholder and Vice Chairman of The Rompetrol Group, NV, an oil refining, trading, and marketing company operating across Europe. From 1993 until its sale in 2001, he was the controlling shareholder in and CEO of International Equity Partners, L.P. (“IEP”), a specialist manager of private equity and distressed debt funds in India and Eastern Europe. Mr. Stephenson was a senior official in the Office of International Affairs at the U.S. Treasury Department (1991-1993). He received his BA in Government from Harvard College (1986) and his JD from Harvard Law School (1990). Mr. Stephenson serves on several nonprofit boards, including the National Geographic Society’s International Council of Advisors; NatGeo’s Pristine Seas advisory board; the National Marine Sanctuary Foundation; and the Board of International Counselors at both the Center for Strategic and International Studies (“CSIS”) and the Belfer Center at Harvard’s JFK School of Government.
Colin R. Hart
Managing Director
Colin Hart is the Managing Director of Freedom Development LLC. Prior to establishing the Company, Mr. Hart owned and managed Vanquest Capital Advisors, an investment advisory firm domiciled in Amsterdam, the Netherlands, specializing in emerging market listed equities in Eastern Europe. From 1997 to 2004, Mr. Hart was a Principal at Milestone Merchant Partners (previously International Equity Partners) managing its Eastern Europe private equity fund. From 1994 to 1997, Mr. Hart served as an Associate with The Carlyle Group and was a member of The Carlyle Group’s Economic Offset Advisory Team in Riyadh, Saudi Arabia assisting the Saudi government identify and implement joint venture projects in the petrochemicals, waste recycling, food processing and biogenetics sectors. Mr. Hart received his B.A. from the University of Virginia in 1989 and his M.A. from the University of George Mason in 1993.