One of the region’s largest property managers has merged operations with two other companies in the industry.
Three divisions of Virginia-based Dodson Property Management have joined forces with Evernest, a national property manager based out of Birmingham, Ala. The merger includes divisions overseeing single-family properties, small multifamily apartment buildings, and association management of homes and condominiums. Dodson is active in Virginia and Florida.
In addition, Dodson merged its multifamily business — which oversees larger apartment buildings, typically with an on-site property manager — with Orlando-based Atrium Management Company. Terms of the deals were not disclosed.
“We have a vision for our own company’s growth, and felt scale was necessary to build the best leadership team in the industry and to provide our residents and clients with all of the resources possible to ensure that they have a quality experience,” said Duke Dodson, president and CEO of Dodson Companies, in a statement. He said the mergers would allow Dodson, Evernest and Atrium to share resources and create efficiencies “to best serve our owners and residents.” All employees and offices remaining in place, according to the companies.
With the Dodson merger, Evernest operates in 25 real estate markets across the country. It manages more than 11,000 homes for over 4,100 owners, and manages 170 homeowner associations. Meanwhile, Atrium now manages 4,000 multifamily apartments in Virginia and Florida.
In Dodson’s markets, company branding will change to Evernest and Atrium. Dodson is an active developer in Virginia and still maintains a commercial brokerage and property management division and a short-term rental division.
(This article originally appeared in the Richmond Times-Dispatch.)