Evernest Acquires Property Management Division of Picket Homes

BIRMINGHAM, Ala., Dec. 2, 2024 /PRNewswire/ -- Evernest, a national, full-service real estate and property management firm, announced today the acquisition of certain assets of Elara, the property management division of Picket Homes.

The acquisition solidifies Evernest's position as one of the largest institutional third-party property management providers in the United States. With this acquisition, Evernest now manages 15,000 homes across more than 35 markets nationwide.

"Evernest is committed to delivering unmatched value to our clients, and this acquisition represents a strategic milestone for us," said Matthew Whitaker, Evernest Founder and CEO. "We are thrilled to welcome the Elara team into the Evernest family. Their expertise will enhance our operations and further our mission of providing best-in-class property management services."

Quinten Shay, CEO of Picket Homes, shared his confidence in the transition: "Evernest's focus on operational excellence, coupled with its innovative approach to property management, made this decision an easy one. Knowing that our clients and residents are in great hands is paramount to us, and Evernest checks all the boxes. This move reinforces Picket's focus on our core strength-building premium technology and data for SFR investors."

A key differentiator for Evernest is its best-in-class last-mile operations, with dedicated, local teams on the ground in every market it serves. This approach ensures that property owners and residents alike receive personalized, hands-on service. In addition, Evernest continues to develop proprietary technology designed to improve market-level operations and streamline client communications, reinforcing its reputation as a leader in the property management industry.

The acquisition will also benefit Evernest's current and future clients by increasing market density, which in turn boosts net operating income (NOI) for property owners.

"We see this as a win-win for everyone involved," added Whitaker. "Our clients gain from the improved efficiencies and enhanced market presence, while the Picket/Elara team brings incredible talent and experience that will help us elevate our services to the next level."

This transaction marks Evernest's continued focus on strategic growth, with Elara assets joining the ranks of many other successful acquisitions that have bolstered Evernest's national presence and operational expertise.

About Evernest
Evernest is a national leader in single-family and small multifamily real estate investment and property management. Operating in more than 35 real estate markets, the firm manages 15,000 homes for over 6,000 owners, brokers more than 500 investment deals annually, and continues to develop innovative technology and processes to enhance client outcomes. Evernest has earned a spot on the Inc. 5000 list eight of the last nine years. To learn more, visit Evernest.co.

About Picket Homes
Picket Homes is a real estate technology company focused on enabling property investors with tools, services, and strategies to manage their portfolios effectively. Its Elara division specialized in property management for institutions.

SOURCE Evernest