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HomeRiver Group Expands to San Antonio Through Acquisition of Boardwalk Real Property Management

System - Thursday, May 24, 2018

HomeRiver Continues to Expand its National Footprint

SAN ANTONIO – May 17th, 2018 – HomeRiver Group announced the acquisition today of Boardwalk Real Property Management (Boardwalk).

Boardwalk will over the next few months be re-branded as HomeRiver San Antonio, but Boardwalk’s founder Stephen Foster will continue after closing to serve as the designated broker for the division and will assist HomeRiver Group in further acquisitions throughout Texas. Mr. Foster is the third former President of the National Association of Residential Property Managers (NARPM) to have merged his business into HomeRiver Group’s platform, further evidence that industry leaders recognize the company’s strategic advantages.

A shared commitment to superlative client service and belief in the continued strength of the Texas rental housing market were key drivers of the deal.

“Identifying a larger platform that would continue to deliver excellent service to our customers was of the utmost importance,” said Foster. “We couldn’t have found a better home than HomeRiver. This will deliver meaningful value to the property owners we represent, our residents, and our employees.”

“We are thrilled to welcome Boardwalk to the HomeRiver family and honored to build upon the legacy and relationships that Steve has built,” said John Hirschfeld, Chairman and President of HomeRiver Group. “This partnership will bring HomeRiver’s expertise in areas such as leasing and maintenance – which has been developed and refined by property managers nationwide – to bear for Boardwalk’s customers while facilitating HomeRiver’s continued growth throughout Texas.”

HomeRiver Group, the leading integrated national provider of property management services to the single-family and small multi-family markets, was formed in 2016 through the combination of three leading property management platforms from around the country: Park Place Property Management in Boise, ID; Home Encounter in Tampa, Jacksonville, Orlando, Ocala, and Miami, FL; and Brick Lane Property Management in Indianapolis, IN. Since then, the company has acquired numerous leading regional property management businesses, all of which have been or are being being rebranded to HomeRiver. These have included Birch Management in Greensboro, NC; Letts Property Management in Chicago, IL; BMG Rentals in Salt Lake City and St. George, UT and Idaho Falls, ID; and HomePointe Property Management in Sacramento, CA. In addition, the company has opened offices in Kansas City, MO; Memphis, TN; Oklahoma City, OK and Cincinnati, OH. The company offers a comprehensive suite of acquisition, renovation, leasing, management, maintenance, and brokerage services to its clients.

“We are excited to partner with HomeRiver Group and have been inspired by the vision they have for the future of single-family and small multifamily property management and related services,” said Foster. “Our team has already begun coordinating with the HomeRiver team to plan the implementation of certain improvements to our systems and an expansion of our service offerings.” “Marrying enterprise-wide best practices, technology, economies of scale and national branding with local knowledge, boots on the ground, and trusted relationships continues to be a winning formula for property management,” said Hirschfeld. “We look forward to continuing to welcome leading property management companies and large portfolios into the fold as we expand our footprint across Texas and the country.”

About HomeRiver Group

HomeRiver Group (HRG) is the nation’s leading integrated provider of single-family and small multifamily property management services. HRG offers a comprehensive suite of acquisition, renovation, leasing, management, maintenance, and brokerage services to large and small real estate investors as well as Community Association Management (CAM) services. The company currently reports over 14,000 homes under management and over 10,000 HOA units represented by its CAM division, across fourteen states.

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About Boardwalk Real Property Management

Established in 1986, Boardwalk Real Property Management (Boardwalk) provides property management services on over 700 units in San Antonio, Texas. Boardwalk is a Certified Residential Management Company, certified by the National Association of Residential Property Managers (NARPM), and a member of NARPM, the National Apartment Association, and the National Association of Realtors. Stephen D. Foster, Boardwalk’s designated broker, is a licensed architect, a Master Property Manager, and a member of the Commercial Investment Real Estate Institute.

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