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Houston-based property management firm Asset Living has acquired JMG Realty of Atlanta, adding 20,000 multifamily units to its portfolio as well as a new Atlanta corporate office.
JMG Realty, in business for about 30 years, according to its website, currently has 575 employees. It has offices throughout the Northeast, Mid-Atlantic, Southeast and Southwest United States.
"I’m excited to welcome JMG to the Asset Living family—it was an honor to collaborate with both Karlton [Jackson, JMG Realty CEO,] and Tim [Brock, JMG Realty president,] to make this venture a reality,” Asset Living CEO and President Ryan McGrath said in a statement. “Don’t be mistaken, just because the acquisition is official doesn’t mean that we’ll be slowing down anytime soon. Now, the real work begins. Our plan is to continue this momentum of growth into the new year."
Asset Living announced in November it had acquired Dallas-based property management firm City Gate Property Group. The acquisition added 10,000 units from Texas and Louisiana. As of that acquisition, the company said that it was managing roughly 120,000 units. Additionally, Asset Living made three acquisitions last year, including Dallas-based Alpha Barnes Real Estate Services, a property management firm, as well as Shelton Residential, another firm based in Arizona.
In all, the company said it has grown more than 60% over a one-year period and planned additional acquisitions to expand its national footprint.
“This is an exciting time to be joining the Asset Living brand,” Brock said in the same statement. “We’ve been so impressed by Asset Living’s ability to grow while maintaining best-in-class client service, and we’re excited to bring that same drive to the Southeast.”
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