Dealmakers couldn't be reached by press time due to the NationalMulti-Family Housing Conference being held in Boca Raton, FL. Inthis morning's press release, Riverstone says the combinedcompanies are creating the largest independently owned third-partyproperty services in the US. Riverstone, headquartered in Dallasand Rockville, MD, is a subsidiary of Consolidated AmericanServices Inc., the US property management arm for UK-based RegisCapital Ltd. Its network consists of 23 divisional offices and4,300 associates.

|

Dan Shaw, RMI's CEO, says the company has been approached manytimes in the past to partner with others. "But until now we neverfound the right fit that benefited both the business and ourclients," he says in the release.

|

According to RMI's website, it acquires and partners withdevelopers. Whether Riverstone intends to incorporate that into itsmodel is one of the unanswered questions.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.