Property Management Inc. Announces 1800 Unit HOA Management Acquisition in Prince William County Virginia
Release Date: 6/5/2017
Former first-round-pick NFL Player and Richmond Va. real estate business owner partner with Property Management Inc.
Property Management Inc. (PMI) franchises PMI Richmond and PMI Elite Baltimore joined forces to acquire an 1800 unit association management portfolio in Prince William County Virginia. Because of the acquisition's size, a new office, PMI Prince William, opened in May to provide dedicated support and services to the associations it is now managing.
Co-owners of PMI Prince William, Thomas Smith and Dave Peschio, who each own existing PMI franchises, partnered together to negotiate the purchase of RH1 Management in Dumfries, Virginia. In conjunction with the acquisition the new PMI Prince William office was opened in order to create a seamless transition for the 11 associations and their residents. Peschio said, "What really made PMI the best choice to take over management of these owners associations is being part of a national property management network." According to Peschio, "The support, systems, resources and professionals that the PMI team brings to the table is what sets us apart from other property management companies."
A former first round pick with a nearly decade-long career as a defensive back in the NFL, Smith became an entrepreneur which led him to opening his own property management company, PMI Elite Baltimore, in early 2016. Peschio, owner of PMI Richmond, began his real estate career as a developer in the Richmond area and has been managing rental properties for nearly 20 years. Both Smith and Peschio are excited about their partnership and feel that the opening of PMI Prince William will only add to strength and success of their own existing PMI franchises.
About Property Management Inc.
Property Management Inc. (PMI) is a premier real estate management company providing industry leading technology, training, systems and support to more than 200 franchises globally. The PMI franchise network manages more than $4 billion in assets and is one of the fastest growing property management franchises in the country. PMI's proven comprehensive franchise program gives franchise owners the tools for success and provides the competitive advantage required to succeed in the property management industry. PMI has been ranked on the Entrepreneur Franchise 500 list for three years running, is currently named "Best in Category" for 2017 and listed as one of the Top 100 Fastest Growing Franchises. Each PMI franchise is locally owned and operated. For more information, please visit PropertyManagementInc.com.
SOURCE Property Management Inc.
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