Rimrock's senior living concept, The Canopy Living, was founded as the result of a passion of several Rimrock partners and team members combined with the realization of the increased demand for assisted living communities generated by aging baby-boomers. Rimrock spent several years researching and underwriting multiple assisted living communities in large markets.
Rimrock began developing hospitality after our CEO recognized the need and opportunity for a hotel in coveted downtown Whitefish, MT. Today, the Firebrand Hotel is the only hotel within the heart of downtown Whitefish and the only boutique hotel in the City of Whitefish.
Rimrock launched our self-storage division in 2017 through a strategic JV with a Jernigan Capital developer. We spent a good deal of time and resources learning the Jernigan self-storage model while locating sites in the large MSAs assigned to us. These markets included Pittsburgh, New Orleans, Minneapolis, and Washington DC.
Retail was one of the flagship developments of Rimrock and a foundation of Rimrock's developmental success. Beginning with a large Dollar General development territory, Rimrock has now expanded into working with a multitude of brands through single-tenant developments and multi-tenant shopping centers.
Rimrock has been active in the multi-family space for over a decade. We started learning this asset class by purchasing existing apartment complexes and creating a management company to manage our multifamily assets. We leveraged this acquisition, management experience, and knowledge to better understand and pro-forma new multi-family development opportunities. This knowledge combined with strategic partnerships with seasoned multi-family developers, has enabled us to have a successful pipeline in this highly competitive market sector. Rimrock has taken the past 10 years of multi-family experience and used it to develop and refine a small market model which we will be launching this year. Our plan will be to duplicate this exciting new prototype in smaller markets across the Southeast in the following years.
Rimrock has worked diligently to identify and perfect programmatic, duplicable pipelines of development in Retail, Senior Living, Hospitality, Self-Storage and Multi-Family. These are our core asset classes remaining our priority and focus.