Lafayette Real Estate
Maintaining the Key Advantage
by Carole VanSickle Ellis
When Lafayette Real Estate founder and CEO Thibault Adrien describes his company’s journey to providing a great customer experience, he focuses on three unique elements: ability, knowledge, and experience.
“When we started the Lafayette in 2011, we knew our ultimate goal was to create a great customer experience, and that meant we had to have the ability, ourselves, to provide property management services to our residents and ultimately build our product to control the entire value chain associated with single-family residential [SFR] living,” he said. Adrien’s company has grown exponentially since its launch, always in pursuit of what the company describes as “the highest quality services to our residents and investors.”
When Lafayette opened its doors in 2011, it did so in the wake of the U.S. subprime crisis. Adrien started the company in order to provide European investors with access to the recovery of a U.S. housing market in dire need of acquisition, renovation, and development at a time when U.S. funding was largely unavailable due to the housing crash and subsequent financial meltdown.
“There was a lot of demand for rentals at that time, so we were focused on meeting a need in communities for more rental homes,” Adrien said. He continued, “At the same time, there were a lot of distressed assets that needed to be taken off the banks’ balance sheets to be renovated and made available to families that valued the experience of living in professionally managed, single-family homes. Prices at that time were low, so we were meeting a need for our investors as well. As we grew, we quickly realized if we wanted to be good investors, we had to be good rental operators also.”
From that realization, Brandywine Homes USA was born.
“Brandywine truly cares for the entire resident experience, not just the bottom line,” said Jackie Lee, CEO of the property management company. She continued, explaining that the company is involved in the establishment and ongoing evaluation of acquisition metrics, management KPIs (key performance indicators), and evolving customer services for both investors and residents. For example, Lee and her colleagues spearheaded a recent move toward internalized maintenance, believing this would simultaneously lower portfolio construction and maintenance costs while improving resident satisfaction.
“Internal maintenance allows us to be more responsive because we are not relying on third-party vendors to be available, and that means residents have more certainty about the timing on repairs,” she explained, noting that the Brandywine resident “happiness quotient,” a metric defined by the number and caliber of publicly available reviews about the company, has risen in direct correlation to the change.
Naturally, when residents are happier, they are more likely to renew their leases, one of the single most significant factors in the success of residential rental real estate companies of any size. At the time of publication, Adrien said, average resident renewal rate in Brandywine properties was higher than 70%, compared to a 50% industry average in multifamily apartments.
“This shows we have ‘stickier’ customers who are happy with the service we provide, and that is a big validation of what Brandywine does every single day,” he said.
A Fearless Determination to Grow
As Lafayette Real Estate and Brandywine Homes USA continued to grow, it became apparent another element was needed in order to fulfill the mission of leveraging good investment opportunities while meeting the rising demand for single-family rental properties in the wake of the Great Recession. “In 2022, the next step in having a positive impact on the housing industry was to help solve affordability issues by creating new housing in the single-family space. That led to the creation of Marquis Homes,” Adrien said.
Jason Besse, president of Marquis homes, brought decades of experience to the new construction company, which is dedicated to developing master-planned rental communities that are eco-friendly, prioritize functionality and livability, and boast outdoor living spaces designed to blend outdoor and indoor living areas in a seamless fashion. Besse emphasized the interconnection between all elements of Lafayette real estate and how this harmony makes Marquis Homes an exciting and dynamic workplace.
“We are involved in land-sourcing, development, and acquisition as well as more traditional development,” Besse explained. “Marquis and Lafayette have the same goals, which makes our role as a homebuilder unique. In a typical situation, a builder’s relationship with an asset ends at the point of sale. We are in it for the long run, and that means we care deeply about the durability and long-term livability of these assets.”
Lafayette Real Estate, Brandywine Homes USA, and Marquis Homes collaborate closely from start to finish to deliver new rental communities. Marquis handles development and construction, while Brandywine oversees lease-up and property management once the homes are stabilized and construction is complete. However, their collaboration goes far beyond a simple division of tasks.
From the initial underwriting of a land acquisition, Lafayette’s investment team works closely with its operating affiliates. Brandywine’s “boots on the ground” are critical to assessing the local market dynamics, lease-up timing and rental rates, Besse explained. Marquis’ expertise is invaluable in estimating development and construction costs in a given submarket. During the development phase, ongoing dialogue between the three teams continues, such as when Marquis Homes incorporates Brandywine’s knowledge of local tenant needs and wants when picking the materials, specs and amenities Marquis will build.
Besse explained the company’s dedication to creating indoor and outdoor spaces that “flow” is an example of how Marquis, Brandywine, and Lafayette work together to create a unique type of SFR asset.
“If we build in Florida, for example, we work to understand and appreciate the wetlands in the area and design our communities to fit in and around them,” he said. “On the other hand, in North Carolina, there are more rolling hills, so our communities are designed to highlight this natural element.” He concluded, “We make adjustments geographically, but we always keep our focus on sustainability.”
Brandywine Homes and Marquis Homes work closely throughout the entire development process; subsequently, Brandywine moves into a more traditional management role. Lee explained, “We are heavily involved pre- and post-acquisition because our goals are aligned with the goals of the investment funds and the asset management teams as well. We are looking at KPIs, customer satisfaction, and many other elements that are important during the acquisition process as well.”
“Brandywine, Marquis, and Lafayette are great partners,” Besse continued. “When we are identifying a new piece of property to purchase, we need land expertise to understand governmental restrictions, tenant expertise to know what features attract and retain local residents, market expertise to understand seasonal demand in order to customize our delivery timing, and, of course, construction and development expertise to bring the new community together.”
For example, in some markets, tenants have a strong preference for luxury vinyl plank (LVP) flooring, a common and popular flooring option throughout the SFR industry, throughout the entire home, including in bedrooms. On the other hand, in some markets, properties with carpeted bedrooms and LVP-floored main living areas garner higher rents.
Brandywine, Marquis, and Lafayette Real Estate are all involved in an ongoing exchange of information and data about these sorts of topics during the acquisition and development phases of rental communities, balancing rental rates, amenities, and costs.
“Once we are synced up, meaning we can all confirm the cost of a project is going to make sense based on the rents we expect to collect and our targeted profitability for our investors, then we are ready to create our product,” Adrien said.
Combining to Create an Entire Value Chain
Today, Lafayette founder Adrien proudly states that his company, which started out ambitiously in 2011 with a single fund of primarily European investors hoping to shore up the U.S. housing market and create a sound investment portfolio in the process, represents a true “value chain” spanning the entire lifecycle of a real estate asset. He also noted that today, roughly 80% of Lafayette Real Estate’s capital comes from U.S.-based investors, while about 20% continues to stem from European sources. The important thing to remember, he emphasized, is that Lafayette Real Estate is dedicated to adding value to the housing industry.
“The United States has an affordability issue, and the way to solve this issue is to provide more supply to the market,” Adrien said. “We are proud to be a part of a new class of owners in the SFR space that are accountable and actively creating standards for the industry.”
“Our vertically integrated companies are having a significant, positive impact on our residents and their experiences in their homes,” Lee added. “We have put together so many wonderful programs to help our residents, including flexible payment options, hardship loan programs, and financial education. We are actively giving back to our communities and making sure people have a great experience while they are with us.”
To Adrien and his team, part of having a great experience with Lafayette Real Estate means having access to affordable residential options that fit not only the basic needs in a community but also meet residents’ desires for modern living. In terms of property management, that means it is increasingly important to offer the latest technology in homes both in terms of accessing a potential residence and using that technology once a family has moved in.
“The advances we have seen in technology since I started out in this industry are incredible,” Lee said. “Today’s residents want options for self-guided tours, smart homes, and even the advantages we can bring using virtual assistants. These are things that make our assets attractive to residents and also help us really streamline our operations.”
On the development side of the equation, Besse noted that a great experience with the company includes access to comfortable homes built with sustainable materials and livability in mind. “We build assets that last, and they fit well within the environment at the same time,” Besse said. “We care that these assets are built well and also sustainable because we are going to be living with them for years to come, just like our residents.”
For Adrien, one of the most important things about his real estate communities is that they are setting standards in the industry while also bringing affordable options to households that want to live in single-family settings. To this end, Lafayette Real Estate is not sitting back in 2025; instead, the company has nearly 1,500 lots lined up to develop in the coming years to make sure that the strong demand for housing has inventory with which to meet it.
“We are very energized by this challenge, both to see those 1,500 homes go up in the next few years and for Brandywine to manage those homes,” Adrien said. “There are simply not enough rental homes in the U.S. It is an exciting time for our company, and we look forward to providing much-needed housing for families.”
“We really love our customers, both internal and external,” Besse concluded. “We have our end users that are external and our collaborators on the capital side that are internal. We are constantly searching for that feedback from our customers to always improve their experience with this company.
SIDEBAR 1
By the Numbers
14 // Number of years Lafayette Real Estate has been in business
4,000 // Number of homes currently under management by Brandywine Homes USA
1,500 // number of lots under contract to be developed and built by Marquis Homes
11 // Number of years Brandywine Homes USA has been in business
100 // Brandywine Homes USA manages 100% of Lafayette’s SFR portfolio
4 // Number of years since the launch of Brandywine Cares
2 // Number of years Marquis Homes has been in business
70 // Brandywine Homes USA boasts an annual tenant renewal rate in excess of 70%
100 // Brandywine Cares coached more than 100 people in 2024
50 // self-reported improved salaries or better employment as a result of the specialized 1:1 coaching program
35,000 // Average salary increase reported by participants in the one-on-one coaching programs
SIDEBAR 2
Brandywine Cares
Brandywine Cares is the philanthropic arm of Lafayette Real Estate, established during the COVID-19 pandemic to help residents improve their financial situations through better employment opportunities and, in some cases, financial training.
“Brandywine and Lafayette knew we had a responsibility to help our residents, and out of that came a number of programs, including flexible payment options, hardship loan programs, and Brandywine Cares,” Heidi Coppola, CEO of Brandywine Cares, said.
Brandywine Cares is the result of partnership between Brandywine Homes USA and Lafayette Real Estate. The two teamed up to offer professional coaching, entrepreneurship classes, and financial coaching and education. The program was a success, and the company invested additional resources, resulting in a 2024 class of more than 100 individuals. Coppola reported roughly half of those enrolled in the program were able to qualify for better jobs and higher salaries, with an average increase in salary of about $30,000 per person.
“That is more than $1.5 million of value created for the community,” Thibault Adrien, founder and CEO of Lafayette Real Estate, said proudly.
Brandywine Cares also works with Consolidated Credit Solutions to offer what the two groups have titled a “comprehensive financial wellness program” tailored to assisting individuals enrolled in the program with “establishing and meeting appropriate financial wellness goals while helping them maintain or achieve financial health.” The program includes access to live and on-demand webinars, personalized financial coaching, help and advice with budgeting, credit report review, credit building, and assistance with debt resolution.
Brandywine Cares also offers a variety of job assistance programs, including helping residents search for jobs, vocational assessments, job training, resume preparation, access to related education, and personal career counseling. “It was really important to us that the program involve tools that could help residents improve their career paths,” Coppola explained. “Now, we are really working on scaling the impact we can have.”
Learn more about Lafayette Real Estate, Brandywine Homes USA, Marquis Homes, and related services, programs, and funds at Lafayette-re.com.
