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Property Management Firms Merge

BINGHAM FARMS, MI-LR Management Services Corp. and Real Equities Property Management merge, thus creating further synergy and efficiency in operations.

By Dan Heaton | Updated on April 27, 2005

BINGHAM FARMS, MI-Two Detroit area property management firms have merged. Real Equities Property Management (REM), a company owned by locally based Silverman Cos., has merged with Oak Park-based, LR Management Services Corp. Financial terms were not disclosed.

Currently, REM manages three luxury-apartment communities in Auburn Hills, Dearborn and Rochester Hills and a townhome complex in Rochester Hills. REM also manages Town Suites, a corporate short-term rental and relocation service with more than 15southeastern Michigan locations.

LR Management currently manages properties throughout Michigan including Pilgrim Village in Canton, Stratford Villa in Oak Park, French Quarters in Southfield, Sterling Lake in Sterling Heights and the Green Acres Village in North Saginaw. REM will be moving from Bingham Farms to LR Management’s current headquarters in Oak Park. The company will continue to operate using both names.

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