AKAM acquires Property Management Resources to expand Florida footprint

Florida and New York-based AKAM, a leading property management firm, has officially announced its acquisition of Property Management Resources (PMR), marking a significant expansion in Southern Florida. This strategic move is part of AKAM’s broader growth strategy, utilizing a hub-and-spoke model to broaden its market presence.

The acquisition was completed as of today, following negotiations that started in mid-2023. Although the financial details of the deal remain undisclosed, the acquisition is expected to significantly enhance AKAM’s service offerings in the region.

Enhanced Services and Expansion

By integrating PMR’s operations, AKAM not only extends its geographical reach but also enriches its service portfolio. Properties previously under PMR’s management will now benefit from AKAM’s comprehensive property management services, including capital project management, energy services, procurement, and insurance and risk management.

Leadership Comments on the Acquisition

AKAM’s CEO, Ken Greene, expressed enthusiasm about the acquisition, stating, “We are very happy to welcome the PMR portfolio and team to AKAM. For over 40 years, we have been a long-standing leader in property management, delivering exceptional service and tremendous value to our clients. We are very excited to add these dedicated professionals to our A-Team and provide our newest clients with the very best we have to offer.”

Ralph Hintz, president of PMR, also commented on the acquisition, highlighting the benefits for the properties and residents they serve. “We’re proud to bring the properties we’ve served an elevated level of support and resources through AKAM’s successful property management model,” he said. “We’re confident that by becoming a part of AKAM, we are adding instant value for our residents, and they’ll see those returns quickly.”

Integration and Future Plans

As part of the integration, Allegra Hintz, a key member of PMR’s founding family, will join AKAM’s Florida team, led by Southeast Executive Vice President Kat Flores. Flores emphasized the focus on people and service quality, stating, “Our first priority is always people—our team members and our clients. We look forward to learning and growing with our new colleagues as well as bringing AKAM’s hospitality-led services and solutions to customers. We have the tools, technologies, and experts ready and willing to enhance the value, comfort, and security of each home.”

The acquisition of PMR by AKAM appears to be a well-calculated move to solidify its presence in a competitive market. By leveraging PMR’s established local reputation and combining it with AKAM’s resources and expertise, AKAM is likely to see enhanced market penetration and client satisfaction in Southern Florida.