Atlanta-based multifamily-services firm JMG Realty was acquired by Asset Living, a Houston-based property manager, for an undisclosed amount.
JMG Realty provides management, redevelopment, financial and investment services for multifamily, affordable and build-to-rent real estate properties. The company has approximately 575 employees and regional and divisional offices in the Northeast, Mid-Atlantic, Southeast and Southwest.
JMG Realty’s acquisition expands Asset Living’s footprint into the Southeast with the addition of more than 20,000 units and a new corporate office in Atlanta. The deal marks Asset Living’s second acquisition in 2021.
“We began our conversations with [Asset Management CEO] Ryan McGrath many months ago and are delighted to be joining the Asset Living brand that shares similar principals, as well as a history of establishing a loyal client base throughout the years,” JMG Realty CEO Karlton Jackson said in a press release. “After working with Ryan’s team to make this acquisition possible, I am confident that we’ll accomplish many amazing things together in 2022 and beyond.”
The acquisition represents an investment in Asset Living’s property portfolios from both a growth and geographical-expansion perspective, the company said.
“I’m excited to welcome JMG to the Asset Living family,” McGrath said. “Don’t be mistaken, just because the acquisition is official doesn’t mean that we’ll be slowing down anytime soon. Now, the real work begins. Our plan is to continue this momentum of growth into the new year.”