Deal creates one of the largest real estate and property management firms in the country
RICHMOND, Va., June 30, 2022 /PRNewswire/ — Evernest, a nationwide full-service real estate and property management firm, today announced a merger of three of its divisions Virginia-based Dodson Property Management. The merger will bring Dodson’s divisions that oversee single family home management, small multifamily home management and association management into the Evernest portfolio.
The merger includes Dodson’s entire single-family portfolio of 2,450 units; 1,100 smaller multifamily units under its portfolio management division; and all federation management operations, which include 170 federations and 15,000 units. Division names change in Evernest.
The merger is Evernest’s largest to date, adding approximately 3,550 single-family homes and small multi-family homes to Evernest’s portfolio. The transaction increases Evernest’s total portfolio to more than 11,000 single family homes and apartments under management nationwide and positions Evernest as one of the largest real estate and property management companies for single family homes and small multifamily homes in America. Additionally, the deal advances Evernest into managing homeowners and homeowners associations Virginia and Florida.
“This merger is truly the culmination of two companies that share a similar culture, technology platform and teams that have built a legacy in large-scale single-family home management,” said Matthew Whitaker, Founder and CEO of Evernest. “A combined company will bring value to Dodson and Evernest customers through shared resources, shared values and shared systems.”
The merger with Dodson brings Evernest’s property management and brokerage services into four new single-family home markets: Richmond, Friedrichsburgand Williamsburg, Va.as well as Northern Virginia. Dodson has federation administration operations in Richmond, Northern Virginia, Williamsburgand Sarasota, Fla. These markets are in addition to the 18 national regions already served by Evernest’s elite team of property managers and brokers. Like Dodson, Evernest in recent years has focused on acquiring and merging operations to grow and better serve owners and residents. The Dodson merger follows 21 previous deals, either mergers or outright acquisitions, made by Evernest. Dodson is one of five deals Evernest closed in the second quarter of 2022 alone.
“We have a vision for growing our own business and felt that scale was required to build the best leadership team in the industry and provide our residents and customers with every possible resource to ensure they had a quality experience do,” he said Duke Dodson, President and CEO of Dodson Companies. “We are very close to Matthew and the team at Evernest and have worked together over the years to build our businesses from the ground up, share best practices and help each other grow. So we felt very comfortable with this big step coming together as one.”
Dodson’s existing leadership, operations and property/association management teams will remain in place in the markets the Company serves. Both owners and residents will experience a seamless transition, retaining the same team members they know and continuously improving processes and systems. Public signage changes from Dodson to Evernest. Dodson’s Commercial, Development and Short-Term Rental businesses will remain independent and will not be included in the Evernest merger.
Whitaker adds, “As we expand Virginiaand together with the Dodson team, we look forward to helping residents, owners and investors achieve their real estate goals and showing them what a great real estate and association management company can be.”
Based in Birmingham, Ala., Evernest operates in 25 real estate markets across the country. It is one of the nation’s largest investment brokerage and real estate management providers for single-family homes and small multi-family homes. The company manages more than 11,000 apartments for more than 4,100 owners, brokers more than 1,000 investment transactions annually and has the Inc5000 List five of the last six years. Learn more about Evernest at Evernest.co.
ABOUT THE DODSON COMPANIES
Dodson was founded in 2007 as a property management and real estate company dedicated to serving the needs of investors, owners and renters. Today, Dodson operates a commercial real estate management and brokerage division, Dodson Commercial; a real estate development group, Dodson Development; and a short-term rental management department. Learn more at DodsonDev.com and DodsonCommercial.com.
Contact for Evernest:
Contact for Dodson: