RPM, CF Real Estate Services Merge
The combined firm will operate under the RPM brand and provide services to more than 84,000 apartments.
RPM, the Austin, Texas-based multifamily management firm formerly known as Roscoe Property Management, is continuing its aggressive growth plan by merging with Atlanta-based CF Real Estate Services. The combined company, which will operate under the RPM brand, creates a national multifamily footprint with more than 84,000 units across 17 states and one of the largest third-party providers of real estate and property management services.
RPM will have more than 1,800 employees with nine regional offices located in Charleston, S.C.; Chicago; Dallas; Houston; Phoenix; Atlanta; Denver; Tampa, Fla.; Washington, D.C.; and San Antonio, Texas. The firm will also have a regional headquarters in Atlanta and a main headquarters in Austin.
The company now operates in Arizona, Colorado, Florida, Georgia, Illinois, Iowa, Kentucky, Louisiana, Maryland, Michigan, North Carolina, South Carolina, Ohio, Tennessee, Texas, Virginia and Wyoming.
The CF transaction follows RPM’s October 2020 merger with Phoenix-based Maverick Residential. At that time, RPM added 1,750 apartment units to its portfolio and opened a regional office in Phoenix. RPM, one of the largest multifamily management firms in Texas and a National Multifamily Housing Council Top 50 Manager, had also added 19,000 units organically in 2020, expanding to more than 58,000 units by year’s end and operating in Arizona, Colorado, Wyoming and Florida.
With this newest deal, RPM is “forging a strong entrance into the Southeast and Midwest markets,” according to Jason Berkowitz, RPM president & founder. He said in a prepared statement that the merger with CF expands RPM’s geographic reach, strengthens both organizations and provides significant opportunities for the future. Berkowitz noted the combined company becomes one of the few firms operating in nearly all major U.S. growth markets.
Founded in 2004 in Atlanta by CEO Brett Finkelstein and the late Byron Cocke, CF Real Estate Services has used strategic mergers as well as organic growth to create a portfolio of institutional-quality assets comprising more than 26,000 units. CF is the parent company of Campus First, its student housing division that is included in the deal and adds to the more than 84,000 units across the U.S.
Finkelstein said in prepared remarks that the combined operational scale and expanded presence of the combined company will allow RPM to provide increased value to its clients, investors and partners.
Berkowitz said leaders from both companies have formed what he called a “collective executive team” to guide the organization under a people-first culture. Title changes resulting from the merger will be announced at a later date.
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