Linville Capital, an alternative asset manager focused on affordable and conventional multifamily housing, has announced that an affiliate has acquired Fitch Irick Corp. (FIC), a vertically integrated affordable housing company.
Headquartered in Charlotte, North Carolina, FIC develops, manages, owns, and preserves affordable housing communities that house an estimated 30,000 residents. Since its founding in 2014, the company has developed over 50 such communities, representing more than 5,000 newly constructed units, and has rehabilitated over 1,600 units. FIC has 20 active development projects under the low-income housing tax credit and Department of Agriculture’s Section 515 rural rental housing programs.
In addition, the company’s property management division oversees nearly 13,500 units across eight states and maintains a strong operational track record, with average portfolio occupancy exceeding 95% over the past decade. FIC has been consistently ranked among the top 50 affordable housing developers and owners nationally by Affordable Housing Finance magazine. In 2025, FIC was No. 36 on the owners list with 12,411 affordable units.
“America’s affordable housing crisis requires new approaches to creating and preserving communities at scale,” said Hollis Fitch, managing partner at Linville Capital and also the founder and former CEO of Fitch Irick, in a statement. “FIC has a strong track record of developing, preserving, and managing affordable housing, and we believe this investment will help expand that impact nationally.”
According to officials, “Linville intends to build on FIC’s strong foundation as a proven affordable housing platform with multiple income streams in a high barrier-to-entry industry characterized by favorable supply-demand fundamentals.” Linville’s partners have developed more than 50 affordable housing assets and acquired over 200 assets, representing more than $1 billion in transaction value.
The Charlotte-based company plans to accelerate FIC’s growth via additional investment in the company’s development and management verticals, targeted geographic expansion beyond its current footprint, and selective acquisitions and strategic partnerships to broaden capabilities and market reach.
“The FIC team is passionately committed to growing affordable housing opportunities, enhancing community, and providing a true sense of home to the residents we serve,” said Robert Lampher, CEO of FIC. “The relationship with Linville brings alignment of expertise, experience, and resources that place us in a unique position to scale our platform in innovative ways. We couldn’t be more excited about the future and executing on our shared vision.”
The acquisition closed March 31, with no additional details released.
Officials added that Linville is working with FIC to ensure a smooth transition, with company leadership and employees remaining in place. The company is actively hiring and will continue collaborating with its vendor and partner network to expand service capabilities and provide more affordable housing across both new and existing markets.
Moore & Van Allen served as the buyer’s legal counsel. Hunton Andrews Kurth served as the seller’s legal counsel. CBRE’s Capital Advisors served as financial adviser.