North Point Development, HallKeen Management, and Douglass Park Asset Management have partnered to acquire a majority stake in the HallKeen Management platform.
Operating as HallKeen, the joint venture marks a new era for HallKeen Management, a leader in affordable and workforce housing with decades of operational experience across Massachusetts and the Eastern Seaboard. According to the partners, the new entity aims to scale the company’s legacy through expanded capital strategies, operational innovations, and deeper community engagement.
HallKeen manages a diverse portfolio of over 6,800 multifamily residential units across more than 85 communities, with a strong presence in Florida, New England, New York, North Carolina, Maryland, and Virginia.
Harrison Rayford, principal of Douglass Park Asset Management; David Oliveri, founder of Norton Point Development; and Eric Somerville also of Douglass Park Asset Management, will serve as co-managing partners of HallKeen. Their combined expertise spans capital markets, low-income housing tax credit compliance, mixed-income development, community engagement, social impact, and long-term housing preservation strategies. Rayford will assume the role of chairman, Oliveri will serve as chief business officer, and Somerville will serve as chief operating officer.
“We are excited to lead HallKeen into its next era, guided by a shared commitment to inclusive housing and community-focused development,” said Rayford. “The HallKeen platform is solid and offers a rare foundation built on decades of mission-driven work and deep-rooted relationships.”
To ensure continuity during the transition, HallKeen principal Andy Burnes will serve as interim CEO and board member. He joins Denison Hall and John Hall, both of whom will remain on the company’s board of directors, preserving the foundational vision and leadership that shaped HallKeen’s success.
The ownership structure of HallKeen will include a 40% retained stake by the original HallKeen principals, while Norton Point and Douglass Park will drive strategic growth and new investment.