he Vestcor Companies was founded in 1983 in Jacksonville, Florida and has grown to become one of Florida’s largest developers of multifamily communities. Founder, John Rood, moved to Jacksonville in 1981 with a plan for a real estate business that would acquire rental houses, resulting in the purchase of eleven single family homes in 1981. For the next two years, Mr. Rood sold multifamily communities to syndicators from around the country.
It was through these experiences that he realized there was an opportunity for a local general partner to do a better job, not only managing the properties, but also providing better communication to investors. With this simple philosophy, Mr. Rood founded Vestcor in 1983.
Since its formation, Vestcor has formed over 100 partnerships investing in raw land, existing apartments, new multifamily developments, condominiums, student communities and retirement communities. The success of Vestcor can be attributed to the guiding principle that has been a focus for the last thirty-eight years – to exceed expectations. This holds true for investors, residents, and employees.