Roscoe Property Management Merges with Arizona Firm
The third-largest apartment manager in Texas is adding 1,750 units to its portfolio through the transaction with Maverick Residential.
Roscoe Property Management (RPM), the third-largest property management firm in Texas, has kicked off a planned growth spree in the Southwest by announcing a merger with Phoenix-based Maverick Residential. Through the transaction, RPM will add 1,750 apartment units to its portfolio while opening a new regional office in Phoenix.
The merger will boost RPM’s total portfolio to more than 200 communities with 49,000 units in Texas, Arizona, Florida and Colorado, and the company’s nationwide team will grow to 1,100 professionals. The deal comes after RPM ventured into the Arizona market last December by taking over the management of a luxury apartment community in Scottsdale.
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Austin-based RPM has also hired a number of top executives from Alliance Residential, an opportunity created by Greystar’s acquisition of the Alliance’s property management business in June. Alliance veteran Rachel Davidson will lead RPM’s Phoenix-based executive team as executive vice president, overseeing national strategy. Davidson has nearly 30 years of property management experience, with a track record of elevating under-performing properties, according to a statement by RPM.
Also part of the team are Scott Pechersky, senior vice president of technology; Alexis Vance, vice president of marketing; and Jeff Krohn, former president of Maverick Residential, who will serve as RPM’s vice president of operations in the Southwest region.
RPM said that it plans to aggressively expand its Southwest portfolio. Founded in 2002 by Jason Berkowitz, the company added more than 50 communities under management in 2019, vaulting it onto the National Multifamily Housing Council (NMHC)’s top-50 ranking of largest apartment managers.
The company made its Arizona debut by adding The District at Scottsdale, a 332-unit community in North Scottsdale, to its management portfolio last year. RPM affiliate F&B Capital was a partner in the acquisition of the newly constructed property.