HOUSTON—Catalyst Property Solutions and Hot Ocean, two area property management firms, have merged to form Catalyst Property Solutions.
Headquartered in Houston, Catalyst provides nationwide property management and receivership solutions. Post-merger, the company has 6,000 single- and multifamily units under management and approximately 250 employees across the country.
The majority woman-owned company was founded by Paula Forshee, who will continue to serve as CEO. Forshee has more than 25 years of property management and entrepreneurial experience. Alan Schnur and Dave Anderson, who founded Hot Ocean in 2009, have owner-management experience. Schnur and Anderson will serve as principals in the newly merged organization.
"Dave, Alan and I began our initial discussions, I found the chemistry between the three of us energizing; we are equally yoked in our values and in our desire to make a difference," said Forshee to GlobeSt.com. “Coming together as one company allows us to capitalize on our combined strengths in property management, asset management, acquisition, disposition, distressed and Class A assets, multifamily, single-family, HOA, industrial and commercial properties. We call this our ability to divide and conquer."
In addition, Forshee, Anderson and Schnur have formed Catalyst Syndications, through which the team will invest personal and investor capital. Anderson and Schnur will serve as co-CEOs of Catalyst Syndications.
“Catalyst Syndications leverages the team's experience in the acquisition, management and disposition of more than 50,000 multi-family units in 45 U.S. states—from highly distressed assets to new Class A construction—to drive value for our investors,” Anderson said.
Of the senior executives' roles, Forshee adds: “Dave specializes in investment strategies and debt placement, while Alan is the 'make it happen' expert with his 'time is money' approach to property identification, acquisition and disposition."
"When I founded Catalyst, I did not want to be just another management company; I wanted to be the best," she says. "Together, we will be the best management and investment company."
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