U.S. Residential Group LLC, a subsidiary of C-III Capital Partners, recently combined its operations with Resource Residential.
The recent combination of US Residential and Resource Residential was officially announced January 23, 2017 and marks the creation of a newly formed company with a diverse suite of property management services. Not only does the joining of US Residential and Resource Residential bring about a new menu of service offerings, it also allows the company to experience new managing leadership and a broader array of clientele.
Acting as a property management business for and subsidiary of C-III, U.S. Residential Group LLC, or US Residential, is a national full-service and fee-based management company for multi-housing communities. Headquartered in Dallas, Texas, US Residential one of the nation’s largest third-party property management companies as the company boasts a massive presence in more than 53 markets and represents more than 100,000 apartment units.
Now combined with Resource Residential, a former business unit of Resource America, the newly combined company will operate in almost 30 states and manage over 200 properties and about 43,000 units. And although the two brands will continue to exist independently until further property level transitions are complete, the new company will rank as one of the top 35 property management companies in the US.
The recent combining of operations has given the newly formed company an opportunity to grow through third-party management contracts and affiliate investment management business at C-III. And as one of the world’s leading commercial real estate services company, C-III most definitely will be able to ensure the company’s growth and expansion.
Founded by Andrew Farkas, a real estate entrepreneur and investor, C-III engages in a wide range of real estate activities like primary and special loan servicing, loan orientations, fund management and much more. Since its inception, Farkas has the guiding leadership behind C-III’s rapid success and expansion. In 2016 alone, Farkas’ led C-III through the acquisition of Resource America and the purchasing of two major Class A office buildings in South Florida.