Avison Young is growing its D.C.-area property management business with a new acquisition.
The Canadian real estate firm acquired D.C.-based BMS Realty Services, a property management company with 1.7M SF of commercial real estate under management, Avison Young announced Monday.
BMS Realty Services was founded in 1999 by Larry McCulley, who previously served as director of property management at JLL. With the acquisition, McCulley will become executive vice president of real estate management services at Avison Young.
D.C.-based BMS Realty has 23 employees, all of whom will join Avision Young and operate under the global real estate firm's brand. Prior to the acquisition, Avison Young's D.C. property management group consisted of 130 people and had about 7M SF under management.
"The dedicated team of professionals at BMS has a great track record of working with clients to heighten building performance and deliver results through streamlining operations, attracting and retaining tenants and enhancing long-term property value," Avison Young CEO Mark Rose said in a release.
The deal is the latest in a series of acquisitions for Toronto-based Avison Young. In October, the firm acquired Phoenix-based Strategic Retail Group and San Diego-based McKinney Advisory Group. In January 2019 it acquired Florida-based Front Street Commercial Real Estate Group. It also acquired two companies based in Germany and the UK last year.
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