RPM will manage Garden Gate Apartments in Fort Worth and Plano, among others.
DALLAS—B/K Multifamily's property management division, B/K Multifamily Services, will be integrated into Roscoe Property Management. Since 1998, B/K Multifamily Service has managed more than 40,000 units from coast-to-coast, ranging from core multifamily assets to affordable housing. And, the property management arm of B/K Multifamily has developed a track record with institutional investors, funds and family offices.
"B/K Multifamily Services' success has always been driven by the tremendous dedication of its people, strength of leadership and market insight," said Mark Beneke, a principal at B/K Multifamily. "With that in mind, we evaluated a large number of property management companies to work with and were enthusiastic to finally find Roscoe Property Management. RPM's entrepreneurial spirit, strength of leadership and national insight provides a unique platform in which to integrate key personnel and core assets from B/K Multifamily Services. In doing so, we know we are better positioned to address the rigorous demands of lease-ups, core assets, i.e., high-rise/mid-rise, and value-add opportunities. This integration will allow B/K Multifamily to focus on our core acquisition and asset management businesses, while knowing that our property management operations are backed by RPM's market leading systems and personnel."
Roscoe Property Management was founded by Jason Berkowitz in 2002 with a vision of growing a market leading, sustainable management company. Today, RPM is the third largest multifamily management company in Texas and has been rapidly expanding its nationwide platform.
"The integration of B/K Multifamily Services' core portfolio is a significant step in growing the RPM platform," said Berkowitz. "While we are thrilled to grow our management portfolio, we are even more excited about the dynamic team members who will be joining the RPM family. B/K Multifamily Services' dedication to its team members is very much aligned with our company's support and commitment to individuals and their long-term growth."
Many of the B/K Multifamily Services team members have been retained by Roscoe Property Management, including senior regional managers Jennifer Haney and Bradley Spencer. With the integration of B/K Multifamily Services, RPM has added 50 communities to its US portfolio. The strategic alignment of B/K Multifamily and Roscoe Property Management will bolster the core strengths of both organizations.
"Because of RPM's experience and success in the Texas market, these community additions complemented the existing portfolio perfectly," Berkowitz tells GlobeSt.com. "Indeed, in the DFW region, the portfolio includes Garden Gate in Fort Worth and Plano, Alaqua at Frisco, Hidden Creek and Lebanon Ridge. In the Houston region, RPM will manage Holly Creek, Wood Glen, Cobblestone Park (Phase I & II), Kensington Crossings and Park Avenue at Boulder Creek. Casa Bella on Westshore in Tampa will also be joining the RPM portfolio. Our excellent training and leadership were a major factor in B/K's decision to partner with RPM, out of the several companies being considered."
Rental rate growth in Dallas/Fort Worth slowed slightly in the last 12 months to 2.4% as 19,481 new units were delivered, with another 30,323 units under construction. The DFW apartment stable occupancy rate remains strong at 93.6%. Once the new units are absorbed, rental rate growth is expected to resume, given the area's projected 2.9% job growth, according to ApartmentData.com.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
