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Envolve Announces Acquisition of MacDonald Property Management

Envolve LLC, a FrontRange platform company, announced it recently acquired the Texas-based MacDonald Property Management platform and related portfolio. Through this transaction, Envolve LLC purchased 16 properties (1,525 units) and assumed management services for nine properties (820 units). The combined Texas platform will now be known as “MPM – A division of Envolve.”

Please see the press release announcing the acquisition below.

Envolve LLC Acquires Texas-Based MacDonald Property Management Platform and Related Portfolio

MEMPHIS, TN / MONTGOMERY, AL – Envolve LLC, one of the country’s largest multifamily property owners, managers, and investors, has completed its acquisition of the Texas-based MacDonald Property Management platform and related portfolio. Through this transaction, the Company purchased 16 properties (1,525 units) and assumed management services for nine properties (820 units). The additional 2,345 units will expand Envolve’s already substantial Texas presence to over 11,500 multifamily homes and its company-wide portfolio to over 32,000. The combined Texas platform now known as “MPM – A division of Envolve” will incorporate the Envolve and MacDonald legacies and values.

“After three generations of my family being involved in property management, I’m excited to be able to pass the torch on to Envolve as they acquire MacDonald Property Management,” said Justin MacDonald, President & CEO of MacDonald Companies. “It sounds cliché, but I feel that both companies were destined to be together because we have so many shared values and practices. I know that both our residents and our team members will be in great hands going forward. It has been my pleasure to work with Envolve throughout this transition, and I look forward to continuing to work with them in new ways to produce and preserve more housing within the state of Texas.”

Daniel Hughes, Chairman & CEO of Envolve LLC, expressed his enthusiasm for this addition to the Envolve family of companies and the natural exploitation of synergies.

“We are honored to partner with the fantastic associates and team members at MacDonald. Our focus is to continue scaling thoughtfully in markets that are attractive to both and have capabilities to serve our clients.”

About Envolve LLC

Envolve LLC is a vertically integrated multifamily real estate company engaged in property management, ownership, and investment. Envolve is committed to its tagline of “Making Communities Better Together,” which represents the positive impact of community involvement by its residents and nearly 900 employees. Shareholders in Envolve include Hunt Companies, FrontRange Capital Partners, and Legacy BSR. For additional information, please contact Crystal Canerdy (VP Training & Marketing, crystal.canerdy@envolvellc.com), Erin Jewell (Marketing & Communications Manager, erin.jewell@envolvellc.com), or visit www.envolvellc.com.

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