Property Management Companies Westward360, Owl Management to Merge, Bringing $4.5 Billion in Assets Under One Roof
CHICAGO, July 22, 2019 /PRNewswire/ -- Westward360, Chicago's premier provider of real estate management services for rental property owners and community associations, announced today that it is merging with Owl Management, a rental property management company.
The new entity will be known as W360 and employ more than 200 Chicago-based employees, managing upwards of $4.5 billion in total assets. Both companies have had success in developing and using innovative technologies to enhance service and improve efficiencies. Both also were among the first to implement e-signing leases and online rent payments—convenient, efficient services that have now become industry standard.
"Merging with Owl Management is a valuable step forward in our plan for managed growth—partnering with successful companies who share our vision of a complete range of quality services for property owners. Westward360 will continue to evolve and lead as a team with deep experience in the industry." -Brent Straitiff, CEO of Westward360.
"With two mergers and one acquisition completed to date in 2019, we are excited about the possibilities all of this will provide the organization," said Nathan Brown, chief investment officer, Westward360. "It will enable us to increase our investment in infrastructure, including innovative technology to provide a better customer experience at a better value for our clients."
Established in 2011, Owl Management managed more than 900 units with a staff of 23, including an in-house maintenance division and in-house leasing services. The firm has a 99% retention rate for owner clients and never evicted a tenant they placed.
"Joining forces with the Westward360 team is a strategic opportunity to share resources and expertise, broaden our range of services and expand our coverage area for customers," said Owl Managing Director Lauren Hundman. "It is critical that we stay innovative and open to new ways of operating, finding efficiencies and streamlining processes to provide better service. That has been our path to success, and we will continue to build on that by teaming with Westward360."
Both firms' experience and expertise have attracted not only Chicagoans but also out-of-state and international investors interested in the attractive Chicago market. With the addition of Owl, Westward360 now serves clients in 35 states, as well as more than 10 countries, including Ireland, China, India, Canada, Singapore, Norway, Malaysia and Mexico.
Besides Straitiff, Brown and Hundman, Westward360's leadership team includes: Brawley Reishman, CTO; David Westveer, CFO; Ian Duni, CSO; Travis Taylor, COO; and Patrick Gill, CMO.
About Westward360
Westward360 defies the traditional approach to property management with our holistic service offerings. Chicago real estate is complex and ever-changing, and we're here to navigate it with you. That's why Westward360 offers an all-encompassing partnership. Managing, buying, selling, renting, investing — we're here for all of it. For more information, visit westward360.com.
Contact
Nathan Brown
Chief Investment Officer
4311 N. Ravenswood Ave.
2nd Floor, Chicago, IL 60613
773.572.0903 | westward360.com
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SOURCE Westward360
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