HOUSTON, Nov. 18, 2021 /PRNewswire-PRWeb/ -- Asset Living, a Houston-based leader in the property management sector, announced today that it has acquired City Gate Property Group, a Dallas-based property management firm that specializes in multi-family housing property management and has more than 10,000 units collectively across Texas and Louisiana under management. The acquisition makes Asset Living the largest multi-family property management company in the state of Texas with a portfolio of 75,946 units and 468 properties.
With over 75 years of combined multi-family property management experience, the partners of City Gate Property Group are experienced in many facets of real estate including operational services, financial accounting, reporting and technology. The office in Dallas serves as the company's headquarters and today the company has approximately 400 total employees.
"City Gate has always had a focus on resident retention and asset optimization with a strong history and proven track record of managing with purpose to best serve our clients," said Patrick Smits, CEO of City Gate Property Group. "I look forward to working with Ryan McGrath and joining the Asset Living brand that aligns with our values as a company and will continue to uphold our company's standard of client service."
This acquisition allows Asset Living to add an additional 10,000 units to its expanding portfolio making it one of the largest property managers in the U.S. with nearly 120,000 units under management.
"Reinforcing our roots as a fellow Texas-based company, City Gate comes with decades of multi-family property management expertise," said Ryan McGrath, CEO and President of Asset Living. "We're humbled to now be considered the largest apartment manager in the state of Texas as we remain committed to becoming the most trusted partner in real estate."
This partnership will enhance Asset Living's multi-family portfolio, and the City Gate team now has access to an entirely new range of resources such as a wholly-owned top-tier marketing agency, a dedicated new lease-up division and capital to serve clients in new adjacent markets.
"We're thrilled to start this new chapter with Asset Living – a company with a national footprint and an expanded service suite," said Dawn Waye, President of City Gate Property Group, "I know I can confidently speak on behalf of the entire City Gate team that we look forward to the new opportunities that will come with operating under the highly-regarded Asset Living brand while continuing to provide best-in-class service to our existing and future clients."
In 2020, Asset Living strategically acquired three organizations, growing by more than 60 percent in one year. McGrath plans to continue the momentum to expand the company's footprint, to access excellent talent and to enhance and add services.
For more information about Asset Living, please visit http://www.assetliving.com.
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About Asset Living
Founded in 1986, Asset Living ("Asset") is a Houston-based real estate management firm. With a growing portfolio that includes a multitude of properties across the nation, Asset provides services to a variety of clients that include property management, asset management, receivership, and investment services. Asset is a member of The Institute of Real Estate Management (IREM), and is recognized as an Accredited Management Organization (AMO). To learn more, please visit http://www.assetliving.com.
About City Gate Property Group
Founded in 2016 by partners Dawn Waye and Patrick Smits, City Gate Property Group provides first-rate property management services to our residents and our clients. We operate under a simple yet powerful business philosophy: provide phenomenal service, deliver enhanced returns to our clients and partners, and foster a culture of excellence in all that we do to fuel continued growth and success. City Gate is recognized as an Accredited Management Organization (AMO). To learn more about our services and team, please visit http://www.citygatepropertygroup.com.
Media Contact
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SOURCE Asset Living
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