Tustin-based The Management Trust has purchased Las Vegas-based TMC Realty & Management as part of its efforts to expand throughout the Western U.S.
TMC, which manages 45 homeowner and condominium associations in the greater Las Vegas area, will be merged into the local firm's existing operations in the region. With the acquisition, The Trust now serves close to 100 communities in the market, thereby boosting the firm's Las Vegas footprint, said company President William Sasser.
"Las Vegas is an important market for us as we expand our operations throughout the West because of its large number of planned communities and condominiums," he said.
The Trust serves condo and homeowner associations throughout the nation and is the third largest management firm of its kind in the U.S. The company recently completed a debt recapitalization that provided $8.2 million to finance its growth efforts – primarily through acquisitions.
The company expects continued acquisitions throughout the year, in addition to the Las Vegas purchase.
"We see considerable potential to expand in Las Vegas because our advanced technology and leadership management style will bring better service and greater efficiency to HOAs and residents," said Sasser.
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