Poplar Homes Expands Presence in St. Louis and Las Vegas with the Acquisitions of BBW Homes LLC and Best Management Team LLC
Acquisitions add more than 900 homes to Poplar's management portfolio, significantly expanding its presence in both markets
CUPERTINO, Calif., Sept. 12, 2023 /PRNewswire/ -- Poplar Homes, the fast-growing, tech-enabled property management company changing the way independent single-family rental investors and multifamily owners manage their rental properties, today announced it has acquired the single-family for rent property management portfolios of BBW Homes LLC in St. Louis and Best Management Team LLC in Las Vegas. The acquisitions significantly expand Poplar's presence in both markets, adding 735 homes in St. Louis and 175 homes in Las Vegas to the company's growing property management portfolio as part of its national expansion.
Poplar serves individual property owners who control two-thirds of the $85 billion single-family rental market, owners of small multifamily properties and individuals looking for a better way to rent while pursuing their dream of homeownership. Over the past two years, Poplar has completed 18 strategic acquisitions, growing its management portfolio by 360% to 15,000 doors across 25 markets in 17 states.
"We are excited to welcome BBW Homes and Best Management to Poplar Homes," said Poplar Co-Founder and CEO Greg Toschi. "Both St. Louis and Las Vegas are strong single-family rental markets where owners and residents will benefit from the combination of Poplar's local property management teams and proprietary technology. Our platform empowers independent single-family home investors to easily manage their rental properties and enables residents to find great homes anywhere, anytime from the palm of their hand."
The acquisitions of BBW Homes and Best Management nearly tripled Poplar's doors under management in both St. Louis and Las Vegas. The BBW Homes portfolio is concentrated in North County in St. Louis, while Best Management's properties are located throughout Las Vegas and Henderson Valley. As part of the acquisitions, a total of six employees will join Poplar to provide local property management expertise.
"As property owners ourselves who will now become Poplar customers, we are looking forward to having access to Poplar's owners' dashboard, which will allow us to more readily see how our investments are performing, and give our residents the tools they need to more easily manage their rental experience," said Barb Westre, who along with her husband, Brad, founded BBW Homes in 2008.
Founded by Sonya and Eric Owings, Best Management has provided third-party property management services to Las Vegas property owners since 2001 as an extension of their brokerage business.
"Poplar offers the best fit for our owners and tenants," Eric Owings said. "We feel confident knowing that Poplar shares our commitment to customer service. Since its start, Poplar has leveraged technology to create a better experience for both owners and residents, which is another reason why it was an easy decision for us to select Poplar to acquire our portfolio."
Best Management's third-party commercial property management business and brokerage operations were not part of the transaction, and Best will continue to operate these businesses. Terms of the transactions were not disclosed.
Poplar combines its proprietary tech-enabled property management platform with the expertise of local property management teams to provide individual property investors with access to the tools and services typically only available to large institutional investors. In addition to being able to track the performance of their investment properties in real time, Poplar clients have the benefit of their properties being managed by local property management professionals as well as guaranteed rent and eviction protection.
For renters, Poplar provides the ability to tour, get approved and rent properties online. They also have access to Poplar's troubleshooting platform, which resolves two-thirds of maintenance issues remotely with the support of local property management teams for any on-site needs. In keeping with the company's mission to partner with customers through every step of their real estate journey, Poplar's StreetCred program is designed to help renters achieve their homeownership goals.
With Poplar's app, available in the App Store for iOS and Google Play Store for Android, owners have the ability to manage their property needs anytime, anywhere.
About BBW Homes
Since 2008, BBW Homes LLC has provided a full array of third-party property management services to individual property investors throughout North County in St. Louis. Today, BBW provides property management to over 750 quality, affordable rental properties in the St. Louis area - that are managed in a professional, courteous, and responsive manner.
About Best Management Team
Best Management Team, Best Rent Finders, LLC & Best Realty Finder, LLC were founded over 20 years ago in Las Vegas, Nevada. As a full service real estate brokerage and property management company, Best provides sales, leasing and property management of residential and commercial properties throughout Las Vegas and the Henderson Valley.
About Poplar Homes
Named to the 2023 Inc. 5000 list as one of the fastest-growing private companies in the U.S., Poplar Homes is a national technology-enabled property management company that empowers both property owners and residents throughout their lifetime real estate journey. Poplar offers zero-fuss leasing, managing, and maintenance services to over 15,000 doors across 17 states and 25 major markets. For renters entering the market, Poplar rebalances the power dynamic and makes it easy to get approved, view available properties, and rent a home online. For property owners, Poplar Homes makes maintaining a rental home as easy as managing a stock portfolio online. Poplar's coast-to-coast expansion is bringing national tools to local teams, empowering investors to manage and monetize residential rental property across disparate locations while increasing efficiencies by 5x and saving thousands in operating costs.
Media contact:
Janice McDill
[email protected]
312.307.3134
SOURCE Poplar Homes
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article