Chicago-based Westward360 has acquired the community association-managed portfolio of Pabcor Management, a property management company headquartered in Chicago’s northwest suburbs.
Geographically, Pabcor Management’s association portfolio falls between Westward offices in Chicago and Woodstock, Illinois, mostly concentrated in and around Prospect Heights, Illinois. The portfolio and its location offer local growth opportunity and operational efficiencies in addition to adding several thousand residential units to Westward’s portfolio. Part of Pabcor Management’s team will join Westward360, providing a seamless transition to its clients as well as continuity in service and management style.
“It’s an exciting step. Pabcor Management’s client base consists of a great mix of properties that perfectly fit our model,” said Brent Straitiff, CEO of Westward360. “The location provides many new opportunities and cements our footprint in that geography. Our sixth acquisition since early 2019, Pabcor Management’s association portfolio is another successful step in continuing our growth strategy.”
For more than two decades, Pabcor Management has been well regarded in the industry, managing a diverse group of properties from condominiums to single-family homes. The firm has a 99 percent client retention rate.
“It’s been a pleasure working with Brent and the team at Westward360,” said Ted G. Arvanitis, CEO of Pabcor Management. “They’ve made this process painless for us and our clients. We’re excited for our clients—Westward will add value from day one.”
With the addition of Pabcor Management’s association portfolio, Westward360 now employs more than 200 full-time employees, serves rental-owner clients in 35 states as well as more than 10 countries, including Ireland, China, India, Canada, Singapore, Norway, Malaysia and Mexico, and manages more than $4.5 billion in real estate assets.
Besides Straitiff, Westward360’s leadership team includes Brawley Reishman, CTO; David Westveer, CFO; Ian Duni, CSO; Travis Taylor, COO and Patrick Gill, CMO.
