Grant Property Management Expands its Portfolio in Boca Raton

Boca Raton Homeowners Associations

News Summary

Grant Property Management has expanded its portfolio by acquiring Consolidated Community Management in Tamarac, adding 90 homeowners associations to its growing list. This acquisition marks the fifth management company Grant has acquired in two years, increasing its total to around 200 associations across South Florida. With their operations expanding beyond Palm Beach County and a new CFO on board, Grant is poised for further growth in the homeowners association management market, despite challenges in the condo sector due to rising repair reserve requirements.

Boca Raton’s Property Management Scene Just Got Bigger!

Boca Raton is buzzing with exciting news as Grant Property Management has officially expanded its portfolio by acquiring Consolidated Community Management located in Tamarac. The financial details of the deal haven’t been disclosed, but what we do know is that this marks the fifth homeowners management company that Grant has scooped up in just the past two years!

What This Means for Homeowners Associations

You might be wondering what this means for homeowners associations in the area. Well, this acquisition adds an impressive 90 homeowners associations to Grant’s growing management portfolio, bringing their total to around 200 homeowners associations across South Florida. Previously, Grant was primarily known for its activities in Palm Beach County, but with this new addition, their influence is spreading outwards. Who wouldn’t love a little more expertise on their community management?

Growing Teams and Opportunities

With the growth of the portfolio comes the need for more hands on deck. Grant Property Management is now operating with a staff of 80 employees, which includes the newly added Chief Financial Officer, Renee Campbell. Campbell brings a wealth of experience, having served nearly three decades as CFO at United Community Management before jumping on board with Grant. Her inclusion is sure to add a depth of knowledge that could benefit both Grant and their clients.

Rankings and Future Plans

In the world of homeowners association management, Grant is making its mark by being ranked the 10th largest homeowners association management company in South Florida, according to the latest Business Journal reports. With expansion plans still on the table, Grant is eyeing even more HOA management firms to acquire. The motivation is clear; there’s a substantial opportunity seen in the management market as various long-term operators are beginning to consider selling their businesses. With around 50,000 associations across Florida, the demand for management services is definitely on the rise!

Challenges in the Condo Market

28% of condo associations in Palm Beach County and 41% in Broward County have completed the necessary Structural Integrity Reserve Study. This may pose challenges for some associations as they work to meet these new requirements.