CHARLOTTE, N.C. & ALEXANDRIA, Va.--(BUSINESS WIRE)--FCA Management, a regional leader in customer and data-driven property management services, is combining forces with Bonaventure, an alternative asset manager focused on investment, development, and construction of innovative lifestyle multifamily communities in the Mid-Atlantic and Southeastern regions to create an enhanced third-party property management firm and platform.
As part of the agreement, Bonaventure’s Property Management Services will become part of FCAM which will manage all current and future Bonaventure market-rate communities. The combined property management platform includes more than 17,000 Class A and Class B multifamily units, and a pipeline of more than 5,000 units currently under development. This strategic combination enables both companies to leverage their respective strengths and geographic footprints, facilitating mutual growth and market penetration across desired regions.
“We are excited to integrate with Bonaventure, a company whose leadership shares our vision of building a best-in-class management company that will benefit our clients, employees, and residents,” said Bob Moore, CEO and Founder of FCA Management. “By combining the strengths of our two platforms and talent of our people, we are poised to accelerate growth, generate economies of scale and establish a new benchmark in third-party multifamily property management. In addition, we will continue to stay true to our roots and align ourselves with select portfolio clients focused on creating long-term value for their assets.”
Dwight Dunton, CEO and founder of Bonaventure stated, “We’ve been traveling on a parallel path to FCA for years and found we share a common DNA focused on operational excellence. They have a talented team who makes their signature approach to asset success and customer service possible. I am confident that the addition of our dedicated property management experts will help the platform reach new heights.”
The property management services agreement is exclusively between the property management operations of FCA Management and Bonaventure Property Management Services. Other Bonaventure business units will continue to operate independently. Bonaventure will still operate as a vertically integrated alternative asset management firm and is an investor in the affiliated property management company. Terms of the deal were not disclosed.
A new brand is being created for FCA Management and will be announced at a later date.
About FCA Management
FCA Management is a customer and data-driven third-party property management firm serving selected clients in the southeast and mid-Atlantic. Utilizing an approach that is both high tech and high touch, the company works to optimize both client returns and resident satisfaction while managing more than 16,000 Class A and Class B multifamily properties.
About Bonaventure
Headquartered in Alexandria, Virginia, Bonaventure is an integrated alternative asset management firm focused on the investment, development, construction and management of innovative lifestyle multifamily communities in the Mid-Atlantic and Southeastern regions. Bonaventure has over $2.3 billion of assets under management, is an expert at utilizing low-cost financing, and manages over 7,500 apartment units across 38 communities primarily in the Mid-Atlantic and Southeastern regions. Since its founding in 1999 by Dwight Dunton, with the intent to create best-in-class capabilities connecting capital to assets, the focus of the firm has been to generate excess returns on a risk-adjusted basis while building enduring value through ingenuity. To learn more, visit www.bonaventure.com.
