Bruce K. Terwilliger
A 1964 graduate of the U.S. Naval Academy, Bruce spent 20 years as a Navy Supply Corps Officer, retiring in 1984 with the rank of Commander. While on active duty, he was selected by the Navy for the Harvard/Stanford MBA program. He received his MBA from Stanford in 1971.
Bruce has had a 30+ year second career in the apartment industry. He has served in senior positions with some of the largest owners and developers of apartments in the United States to include Trammell Crow Residential, Equity Residential and AIMCO. With Trammell Crow Residential, he served in a CFO position and as the President and COO of Trammell Crow Residential Services North. With Equity Residential, he was the Regional Vice President for the Southeast operations. With AIMCO, he was a Senior Vice President and supervised Mid-Atlantic operations. He later joined Russ Davis in Washington, DC as a Partner specializing in the development of private student housing near colleges and universities. He directed the development of the Mazza Grandmarc, a 628-bed apartment property in College Park, Maryland, primarily for University of Maryland students.
In 2017, Mr. Terwilliger started a division of Homes Urban Properties in Florida to purchase value-add rental properties. Since then, he successfully purchased four properties in the Tampa/Bradenton/Lakeland area and has coordinated the improvement of operations, the complete renovations of most unit interiors, and directed many exterior renovations at all properties. All four properties exceeded original business plan projections.
He lives in St. Petersburg, Florida near his daughter, son-in-law and two granddaughters.
J. Ronald Terwilliger
Ron Terwilliger has been an investor and partner in Homes Urban and its predecessor entities since 1998. He is currently the Chairman emeritus of Trammell Crow Residential and the Chairman of Terwilliger Pappas Multifamily Partners, a non-affiliated apartment development company. Mr. Terwilliger became National Managing Partner of Trammell Crow Residential in 1986 and remained in that role until 2009. Previously, he was President and Chief Operating Officer of Sea Pines Plantation and Hilton Head Plantation companies in South Carolina. He has been a sponsor partner in most of Homes Urban’s/Davis Property Group’s projects for the last decade.
Mr. Terwilliger is an honor graduate of the United States Naval Academy. After serving five years in the Navy, he received his MBA degree with High Distinction from the Harvard Graduate School of Business where he was elected a Baker Scholar.
He served as the Chairman of the Urban Land Institute and is a member of the Real Estate Roundtable. Additionally, he is Chairman Emeritus of the Habitat for Humanity International Board of Directors and Chairman Emeritus of the Wharton Real Estate Center
Terwilliger received the Hearthstone Builder Humanity Award in 2006 for his commitment to housing related charities. In 2008, he was elected into the National Association of Homebuilder’s Hall of Fame in recognition of his efforts to advance housing opportunities for all Americans. He also received the ULI Atlanta Community Achievement Award and the ORT Award.
Mr. Terwilliger is heavily involved in philanthropic efforts, the largest being his involvement with Habitat for Humanity International. He has served on the board of directors for Habitat for Humanity since October 2000, and served as chair of the board 2007 – 2009. He is the largest individual donor of all past and current board members. In 2009, Terwilliger donated $100 million to Habitat for Humanity International , making it the largest donation from an individual in Habitat for Humanity’s history. His donation will help an estimated 60,000 low-income families around the world improve their housing. He also established the J. Ronald Terwilliger Leveraged Impact Fund, which makes annual distributions to help support affordable-housing efforts. As part of his charitable contribution, he has travelled extensively with Habitat to Asian Tsunami-affected areas in Thailand and Indonesia, and helped with the hurricane damage in the U.S. Gulf Coast.
J. Russ Davis, Jr.
Russ Davis is a Greenville, SC native and graduate of the University of South Carolina, where, after earning a Bachelor’s Degree in Marketing, he earned his Masters of Business Administration degree in Finance in 1984. He was awarded a scholarship from the Small Business Administration and the South Carolina Small Business Development Center while in graduate school, where he worked with current and prospective small businesses across the state. Russ has been in the real estate business as developer, operator, financier and senior executive for over 25 years. During that time he has been directly involved in the development and financing of nearly 50 apartment and condominium properties totaling over 10,000 units.
In addition to the work done through Homes Urban and DPG, Russ was also co-founder and Chief Executive Officer for Collegiate Hall Properties, LLC, and Terwilliger, Davis and Leadbetter, LLC, developers of urban, infill apartment properties in secondary markets and over 4,000 beds of off-campus student apartments also primarily in urban, infill locations. Since 1999, Collegiate Hall and Terwilliger, Davis and Leadbetter, LLC have developed over $300 million of conventional apartments and privately owned student apartments in the southeast and mid-Atlantic, US.
Prior to forming Collegiate Hall, Russ had been a long-time employee/partner in Trammell Crow Residential (TCR), the country’s largest multifamily developer. At TCR he held positions in the areas of finance, development and operations. When he left the organization in 1996, he was the President and Chief Operating Officer of Trammell Crow Residential Services-Midwest where he oversaw the company’s operations in the Midwestern and Northeastern US. He was also a board member of the TCR National Management Board and Residential Services Executive Committee.
After leaving TCR, Russ joined Merry Land and Investment Company in Augusta, Georgia, a $2 billion publicly traded real estate investment trust. At Merry Land, he was responsible for the crafting the operating strategies for the company’s 35,000 apartment units and administering the company’s relationships with third party apartment developers.
After Merry Land was sold to Equity Residential Property Trust in 1997, Russ, his wife Nancy, and their two daughters, Elizabeth and Mary Grace, returned to Greenville, South Carolina where they currently live.
Team
Jarrod Smith
Jarrod Smith joined Terwilliger Brothers Residential in 2022 after spending five years as a real estate analyst with HFF/JLL . While at HFF/JLL, Jarrod focused on multi-housing investment sales, debt, and equity placement. During his time at HFF/JLL, Jarrod provided direct analytical, financial, and marketing support on over $4 billion worth of transactions.
Jarrod is graduate of the University of Florida where he received his Bachelor’s Degree in Finance. Jarrod is native of Tampa, Florida where he currently resides.