Evernest Expands into Texas Real Estate Market with Acquisition of Fort Worth Property Management Company
[Image: Dedy Setyawan/istockphoto]
National full-service real estate and property management firm Evernest has acquired Fort Worth-based Metroplex Management Co. in a deal that includes the management agreements for more than 100 homes across the Dallas-Fort Worth area.
The acquisition also boosts Birmingham, Alabama-based Evernest’s overall properties managed to 16,000 nationwide and, along with other coincident purchases, represents Evernest’s foray into the Texas real estate market.
No financial details of the acquisition were released.
“It’s no secret that real estate is booming in Texas,” Evernest founder and CEO Matthew Whitaker said in a statement. “Much of that activity is centered in and around the Dallas-Fort Worth metro. That’s why, when this opportunity came along to expand our footprint into Fort Worth, we jumped at it.”
He said the transition will be seamless for clients.
“Metroplex clients can rest assured they will not experience any interruption in their best-of-class care, though, as we’ve developed a robust system for launching in new markets,” Whitaker said.
One of 18 property management companies Evernest purchased in the last year
“Evernest’s high standards and commitment to quality were a key consideration in selling my business,” said Metroplex Management Company Owner Steve Schuster. “I am confident in their ability to offer my clients all the benefits of a large, multi-state firm along with the perks of a local, Texas-specific team.”
Metroplex Management Co. is the 39th organization bought by Evernest, and one of 18 purchased within the last year.
Evernest is enthusiastic about offering its newest team members a national property management experience that continually expands and evolves, meeting even the most demanding standards.
“Over the last few years, we’ve developed an incredibly reliable property management playbook,” Whitaker said.
The CEO says Evernest has created a process to identify “successful property management providers” looking to leave the industry, he says. They then negotiate a customized agreement that benefits all parties involved and establish a fast and efficient transition timeline.
“We then take dedicated time to incorporate our company culture, which includes an on-site team, optional in-house brokerage services, and even in-house maintenance services,” he said.
Evernest operates in 34 real estate markets nationwide and is one of the nation’s largest single-family and small multifamily investment brokers and property management providers.
It manages 16,000 homes for over 6,000 owners, brokers more than 1,000 investment deals annually, and has made the Inc. 5000 list six of the last seven years.
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