Merger in property management

Merger in property management

One of the largest property management companies, US Residential Group LLC, and another medium sized residential management company, Resource Residential, has reached an agreement to merge. However, for the time being, until all of the details have been worked out the two companies will be operating as separate entities. US Residential employs nearly 1100 people and they oversee nearly 43,000 units, 200 properties in 30 states. With the merger with Resource Residential, the new company will be in the top 35 companies of its kind in the US.

The merger will build on strengths the two companies have and ultimately create a new company that is capable of giving a more comprehensive service to its customers. A part of the reason why this is possible is that of the talents that exist in the executive level. For example, Stephanie Brock, the president of US Residential has over 30 years’ experience in the property management field. Other talent includes Vice president of Resource Residential Mark Poston and CPO Caydee McCormick.

In fact, Stephanie Brock couldn’t be happier with the merger. She has stated that the merger is a milestone of sorts. She also added that the chance to collectively harness the talents of both companies will be an excellent experience for all involved, including associates, residents as well as clients. Now the company can truly call itself a coast to coast company.

US Residential Group can be described as a fee-based, full-service property management company, for both, conventional as well as multi-housing communities. The company grew by putting together experienced apartment professionals, from different parts of the country. It is a subsidiary of C-III Capital Partners, under the leadership of Andrew Farkas. Apart from houses and properties, the company manages nearly 100,000 apartment units all across the US. Customers of the company is a diverse group of peoples and institutions. They include public companies, non-profit organizations, and private real estate investors.