FirstService Residential Expands Market-Leading Position in Texas with Acquisition of Austin’s Southwest Management Services
FirstService Residential, the leading property management company in North America, has acquired Southwest Management Services, a premier provider of community association management services in Central Texas. Terms of the transaction were not disclosed.
Bonnie and Kevin Carlisle, Southwest Management’s co-founders, will lead FirstService Residential’s newly established Austin operation. This acquisition adds over 22,000 units to FirstService Residential’s existing portfolio and expands its market-leading residential property management business in Texas, which also includes the Dallas, Houston and San Antonio markets.
“Austin and its surroundings are among the fastest growing metropolitan areas in the country. This acquisition cements our leadership position in the state, and secures another key market to bolster our sizeable national portfolio,” said Chuck Fallon, CEO of FirstService Residential. “Partnering with Southwest not only supports our growth strategy in Central Texas, but also solidifies our mission to deliver superior levels of service, as evidenced by their 99-percent client retention rate over the past 10 years.”
“Our team was attracted to FirstService Residential’s partnership philosophy and uncompromising commitment to clients,” said Bonnie Carlisle, who co-founded Southwest in 2004 and will continue to serve as its President. “The company has a well-established track record of attracting top industry leaders and providing them with resources and operational support to further differentiate the quality and scope of services offered, as well as to continually add tangible value for their clients.”
About FirstService Residential
FirstService Residential is a subsidiary of FirstService Corporation, a global leader in the rapidly growing real estate services sector, one of the largest markets in the world. As the leading property management company in North America, FirstService Residential oversees more than 6,500 residential and commercial associations including 1.5 million residential units and over 50 million square feet of commercial space across 21 U.S. states and three provinces in Canada. The company has more than 12,000 employees driving local market expertise and manages in excess of $6 billion in annual budgets. For more information, visit http://www.fsresidential.com.