October 1, 2020 - 葡京appRiver Group (HRG), the nation’s leading provider of property 管理 services for single-family and small multifamily properties, announced today the acquisition of Property Frameworks from Realogy Brokerage Group, the nation's largest residential real estate brokerage company by sales volume. The acquisition will create the largest third-party property 管理 company of its type in the U.S., with approximately 25,000个家庭 under 管理, and expand HRG’s operations from 14 to 22 states by adding Arizona, 特拉华州, 乔治亚州, 夏威夷, 马里兰, 俄克拉何马州, 宾西法尼亚, and 维吉尼亚州 as well as 华盛顿, D.C. to HRG’s existing markets.
“This acquisition enables HRG and Property Frameworks - two of the largest players in property 管理 - to combine best practices and recognize unique advantages of scale on behalf of our clients and other stakeholders. It also creates a strategic opportunity with Realogy Brokerage Group by offering property 管理 and related services to their clients,” 说 John Hirschfeld, Chairman and President of HRG. “The acquisition of Property Frameworks accelerates HRG’s expansion into multiple attractive geographies and will allow HRG and Property Frameworks to better serve clients of both organizations,” added Andrew Propst, HRG首席执行官.
Matthew Robbins, President of Property Frameworks 说, “We are looking forward to working with HRG’s leadership team to expand and continue to refine our services across both platforms.” Mr. Robbins will join HRG as a senior member of the leadership team, working closely with HRG’s Chief Financial Officer, Andrew Napurano, and others to integrate, optimize and continue building out the combined company.
Vladimir Gutin, Partner of TZP Group, HRG’s largest shareholder, 说, “We are excited about HRG’s acquisition of Property Frameworks, which significantly enhances HRG’s market presence and ability to serve property owners in nearly all major SFR markets in the U.S.”
Financial terms of the transaction were not disclosed.
About 葡京appRiver Group
葡京appRiver Group (ntgz.tescowindows.com) is the nation’s leading integrated provider of single-family and small multifamily property 管理 services. HRG offers a comprehensive suite of acquisition, 改造, 租赁, 管理, 维护, and brokerage services to large and small real estate investors as well as Community Association Management services for 葡京app Owners Associations. The company currently manages over 13,000个家庭, 和10,000 additional HOA units, across fourteen states.
About Property Frameworks
Property Frameworks (www.propertyframeworks.com) is one of the largest residential property 管理 companies in the country, 超过11个,000个家庭 under 管理.
About TZP Group
Founded in 2007, TZP is a private equity firm focused on investments in lower-middle market Technology & Business Services and Consumer Products & Services companies in the United States and Canada. TZP has raised over $1.7 billion since inception.
