Liberty Mutual Investments and Thayer Street Partners have formed a strategic partnership to jointly invest in companies across real estate and real estate-adjacent services, beginning with an investment in national community association management platform SunHaven Management.
Liberty Mutual Investments, or LMI, is the investment organization for Liberty Mutual Group and manages more than $130 billion of long-term capital globally.
Thayer Street Partners is a private investment firm providing flexible capital to recurring-revenue companies in financial services, business services, and real estate services.
The companies did not disclose the size of their investment in SunHaven or the amount of capital committed to their broader partnership.
The relationship is intended to target fragmented areas of the real estate services market where the firms believe investment capital, acquisitions, technology, and operational support can help build larger platforms.
LMI and Thayer Street have already worked together on another investment.
Earlier in 2026, the firms invested alongside other investors in Grove Point Marinas, an acquirer and operator of marina properties across the United States.
Their latest joint investment is in SunHaven Management, a national platform serving homeowners associations and other community associations.
SunHaven partners with founders of independently owned community management firms across the U.S., providing those owners with a succession option while attempting to increase revenue and margins through centralized operations, expanded ancillary services, and technology.
The company is also using AI-driven efficiency initiatives to automate and streamline portions of its operations while developing technology designed to improve the experience for homeowners and association boards.
SunHaven was founded in 2025 and is led by founder and CEO Elliot Cohen.
Cohen previously served as CEO of Sears Home Services, one of the largest U.S. appliance repair and home warranty businesses.
Before Sears Home Services, he was Chief Business & Corporate Development Officer at ADT, where he worked within the residential security and monitoring business.
His experience includes operating service-heavy residential businesses and incorporating technology and AI into large-scale field operations.
LMI and Thayer Street see community association management as an example of a fragmented real estate-adjacent industry where a larger platform can potentially generate operating efficiencies through centralization, technology, acquisitions, and expanded service offerings.
The broader strategic partnership will seek similar opportunities.
LMI’s real estate investment organization invests across core-plus, value-add, and opportunistic strategies, covering major property types including multifamily, student housing, senior housing, and industrial properties.
The team also invests in real estate operating companies and service businesses, creating an overlap with Thayer Street’s focus on recurring-revenue companies in the lower middle market.
Thayer Street typically provides customized and hybrid capital structures that can be used to support organic growth, acquisitions, and longer-term value creation.
The firm focuses on entrepreneurial management teams operating in financial services, business services, and real estate services.
The partnership gives Thayer Street access to LMI’s large permanent capital base and real estate experience while giving LMI another source of opportunities in smaller operating businesses adjacent to traditional property investing.
For SunHaven, the investment provides additional capital and institutional backing as the company seeks to acquire and partner with community management businesses around the country.
The firms indicated that their collaboration will extend beyond SunHaven and Grove Point Marinas as they continue evaluating businesses operating within fragmented segments of real estate services.
KEY QUOTES:
“We’re pleased to partner with Thayer Street as we seek unique opportunities across the real estate industry where we can support management teams who are building scalable businesses and help them create lasting value. We look forward to continued collaboration with Thayer Street and to jointly supporting Elliot and the SunHaven team as they build a durable platform in the sector.”
Christopher Finn, Managing Director And Head Of Real Estate At Liberty Mutual Investments
“Our partnership with LMI marks an exciting new chapter in our firm’s progression and further accelerates our ability to combine customized capital solutions and growth support as we help founders scale within the lower middle market. We are looking forward to aiding in SunHaven’s growth and furthering our joint exploration of opportunities in fragmented areas of the real estate services sector alongside LMI.”
Josh Koplewicz, Founder And Managing Partner Of Thayer Street Partners
