The recent merger between US residential group LLC and Resource Residential has come as a game changer in the property management industry. Resource Residential is a former business unit of Resource America Inc., a subsidiary of C-III Capital Partners under CEO Andrew Farkas. US residential is a renowned fee-based management company that operates throughout the country mainly working for multi-housing affordable communities.
The merger between these two companies brings new energy and resources in the property management sector. They now operate in 30 states and manage over 200 properties in those states as well as 4300 units. Besides, it employs over 1,000 property associates making it appear in the list of the top 35 property management companies in The US. Although the two companies have already merged, their brands will continue to operate independently until all transition processes are complete.
Considering the vast experience in each executive management team, it is likely that the company will give other players in the property industry a run for their money. The management team is currently led by Stephanie Rock, US residential president. All top managers have vast management experience in the property industry some with over 30 years’ experience in the field. The diversity of skills brought about by the merger means that the company will be able to provide high-quality services for their clients as well as breach management gaps that existed before.
What the Merger Means
Before the merger, each company used to manage properties in different parts of the country. US Residential Group LLC specialized in the fee-based management of conventional and affordable housing. Therefore the coming together brings about experts and professionals of apartments in various parts of the country. The top executive is full of seasoned management consultants who have vast experience in multifamily classes and property types. It is a promising team that will bring shock-waves to other property players.
There are several advantages when two or more companies decide to together. The greatest advantage among all is often the experience and expertise being combined. The move will not only be of benefit to the company but also to the clients.
In general, the merger between US Residential Group LLC and resource Residential was a strategic move aimed at improving service delivery as well as quality. For over 20 years the major aim of US residential has been to provide satisfactory services to its multifamily clientele something that the merger is likely to fulfill within a short period of time.