REAL ESTATE INVESTMENT
Evernest | July 01, 2022
Evernest, a national, full-service real estate and property management firm, announced a merger with three divisions of Virginia-based Dodson Property Management. The merger will bring Dodson's divisions overseeing single-family property management, small multi-family buildings, and association management into the Evernest portfolio.
The merger includes Dodson's entire single-family portfolio of 2,450 units; 1,100 units under its Portfolio Management division of smaller multi-family buildings; and all Association Management operations, encompassing 170 associations and 15,000 units. The names of the divisions will change to Evernest.
The merger is Evernest's largest to date, and adds roughly 3,550 single-family homes and small multi-family units to Evernest's portfolio. The deal boosts Evernest's overall portfolio to more than 11,000 single-family homes and apartments under management nationwide and positions Evernest as one of the largest single-family and small multi-family real estate and property management firms in America. Additionally, the deal moves Evernest into the management of homeowners and condominium associations in Virginia and Florida.
This merger is really the culmination of two companies that have a similar culture, a similar tech platform, and similar teams that have built legacies in large-scale, single-family property management. A combined company will add value to Dodson and Evernest clients through shared resources, shared values, and shared systems."
Matthew Whitaker, Evernest Founder and CEO
The merger with Dodson places Evernest's property management and brokerage services into four new single-family markets: Richmond, Fredericksburg, and Williamsburg, Va., as well as Northern Virginia. Dodson has association management operations in Richmond, Northern Virginia, Williamsburg, and Sarasota, Fla. These markets add to the 18 national regions already served by Evernest's elite team of property managers and real estate brokers. Like Dodson, Evernest has focused in recent years on acquiring and merging operations to grow and better support owners and residents. The Dodson merger comes on the heels of 21 previous deals, either mergers or outright acquisitions, made by Evernest. Dodson is one of five deals Evernest has made in the second quarter of 2022 alone.
"We have a vision for our own company's growth, and felt scale was necessary to build the best leadership team in the industry and to provide our residents and clients with all of the resources possible to ensure that they have a quality experience," said Duke Dodson, President and CEO of Dodson Companies. "We're extremely close with Matthew and the team at Evernest and have worked together over the years to build our businesses from the ground up, share best practices, and help one another grow, so we felt very comfortable in taking this big step to come together as one."
Dodson's existing leadership, operations, and property/association management teams will remain in place in the markets the company serves. Both property owners and residents will experience a seamless transition, maintain the same team members they know, and see continually improving processes and systems. Publicly, Dodson signage will change to Evernest. Dodson's Commercial, Development and short-term rental divisions remain independent and are not included in the Evernest merger.
Adds Whitaker: "As we expand into Virginia, and join forces with the Dodson team, we're excited to help residents, owners, and investors achieve their real estate goals and show them what a great property and association management company can be."
Based in Birmingham, Ala., Evernest operates in 25 real estate markets across the country. It is one of the nation's largest single-family and small multi-family investment broker and property management provider. The firm manages more than 11,000 homes for over 4,100 owners, brokers more than 1,000 investment deals annually, and has made the Inc5000 list five of the last six years.
About the Dodson Companies
Dodson was founded in 2007 as a property management and real estate company dedicated to the needs of investor owners and tenants. Today, Dodson operates a commercial property management and brokerage division, Dodson Commercial; a real estate development group, Dodson Development; and a short-term rental management division.
REAL ESTATE TECHNOLOGY
Embrey | May 18, 2022
Embrey, a diversified real estate investment company based in San Antonio, Texas, has acquired the Arboretum Oaks apartment community. Located in Austin, Texas, the 252-unit property built in 1984, marks the first acquisition, and 25th asset that Embrey has either developed, owned, or operated in the greater Austin area. Embrey's nationally recognized, award-winning Embrey Management Services will take over property management duties at the community.
Located less than 15 minutes northwest of downtown Austin and five minutes west of The Domain, Arboretum Oaks offers numerous competitive advantages in terms of its accessibility, community amenities and walkable proximity to retail. Through the purchase of Arboretum Oaks, Embrey will be leveraging the explosive, pent-up demand for rental properties in a market that has added more than 80,000 jobs since 2016. Despite continued in-migration, low housing supply, and strong job creation, Austin's Arboretum area has seen only one apartment community developed since 2000.
This is a beautiful community with great access to the Arboretum, The Domain, downtown Austin, and a number of highly sought-after employers such as Apple, Amazon, and Facebook, to name just a few. We plan to fully renovate the property to bring it up to current market standards and renter expectations. Combining the property's prime location and remarkable bones with the red-hot rental demand of Northwest Austin makes this a terrific investment for our company."
Alex Sampson, Vice President of Acquisitions at Embrey
Fueled by the nation's leading job and population growth, the Austin area has one of the hottest apartment markets in the country. Asking rents are now up roughly 25 percent since the start of the pandemic, well ahead of the national average. Most recently, as of the first quarter of 2022, occupancy in Austin increased three percent to 96.4 percent according to Witten Advisors.
"This acquisition signifies another step in expanding Embrey's acquisition platform and capital base," says Sampson. "As a vertically integrated, diversified real estate investment company, we continue to seek acquisition opportunities like this to create value for our capital partners."
Embrey partnered with Black Salmon Capital on this acquisition with debt being funded by an affiliate of Heitman LLC, a global real estate investment management firm. Embrey and its partners were assisted in this transaction by Walker & Dunlop investment sales brokers Matt Pohl and Spencer Roy, as well as debt brokers Patrick Short and Tom Toland.
San Antonio-based Embrey is a diversified real estate investment company that owns, develops, builds, acquires and manages multifamily and commercial assets in targeted markets across the United States. Since 1974, Embrey has developed more than 44,000 apartments and over 6 million square feet of commercial property. Embrey is a leading developer in the multifamily sector, with more than 6,000 units under construction or in development.
REAL ESTATE TECHNOLOGY
prnewswire | October 27, 2020
Today, RealOrganized, Inc. is pleased to announce a significant upgrades to their flagship product, RealtyJuggler Real Estate Software for Real Estate Agents.
RealtyJuggler is a cloud-based real estate software product for real estate agents and REALTORS. The software can be used for prospecting, client follow-up, managing transactions, and much more. RealtyJuggler is sold on a membership basis at an affordable price. It is multi-user and contains numerous features designed specifically for real estate, including transaction management, listing feedback, DRIP Letters, real estate flyers, and mailing labels.
RealtyJuggler is distinguished from its competition through a unique focus on ease-of-use, and friendly technical support.
About RealOrganized, Inc. - RealOrganized was founded in 2003 by a former executive from AOL and a top real estate agent, each with over a dozen years experience in their respective fields. The company's mission is to create the simplest and most affordable organizational software for the real estate industry.