DALLAS, July 15, 2016 /PRNewswire/ -- Property Frameworks today announced the company has acquired the assets of ONEprop, Inc., a large single-family residential property management company headquartered in Dallas, with offices in eight states that manages over 5,700 properties. The acquisition adds four states to Property Frameworks' current market presence and deepens its existing operations within four states. The newly acquired operation will now do business as Property Frameworks. Financial terms of the transaction were not disclosed. This announcement follows on the heels of Property Framework's acquisition in March of Southwest Realty & Property Management in Arizona.
For Property Frameworks, the acquisition of ONEprop extends its market presence into Illinois, Louisiana, North Carolina and Oklahoma, and strengthens its existing operations in Arizona, Georgia, Florida and Texas.
"With this union of best-in-class operations focused on customer service and growth, Property Frameworks takes a giant step forward toward advancing its leading position as a provider of residential property management services on a national basis," said Robert Way, president of Property Frameworks. "We are pleased to welcome ONEprop's highly effective executive leadership team and outstanding employees, and look forward to continuing our shared focus on operational excellence and growth."
"Property Frameworks is becoming an increasingly important part of our business," said Ryan Gorman, NRT's senior vice president, strategic operations. "Property management is a key adjacent growth strategy for NRT and is highly complementary to our core business of residential real estate brokerage."
Kevin Martin and David Kadleck, former co-owners of ONEprop, will join Property Frameworks in executive roles overseeing geographic expansion, sales and marketing. ONEprop was founded in 1987, and under their leadership, it has grown to become one of the country's leading residential property management companies, with over 100 employees, serving multiple markets across the United States.
"By combining the strengths of both firms, we create a larger footprint across the country and accelerate the pace at which we are able to grow," said Martin.
Kadleck added, "We are excited by the challenges and opportunities inherent in our goal of becoming a national leader in the single family residence property management industry."
About Property Frameworks Property Frameworks (www.propertyframeworks.com) is one of the largest residential property management companies in the country. As a member of the NRT family of companies, Property Frameworks is backed by the strength and resources of the nation's leading real estate brokerage company. NRT is the nation's largest owner and operator of residential real estate brokerages. With approximately 790 offices and 46,800 independent sales associates, NRT operates in more than 50 of the 100 largest metropolitan areas in the United States. NRT is a subsidiary of Realogy Holdings Corp. (NYSE: RLGY).