May 19, 2022, 09:00 ET
PURE Institutional Management responds to the growing demand for dedicated services that reduce the complexities and costs of managing institutional portfolios
Los Gatos, CA – May 19, 2022 -- PURE Property Management, the fastest growing residential property management and technology company in the U.S., today announced the launch of PURE Institutional Management, a dedicated division to service institutional investor clients and their residential portfolios across multiple locations within PURE’s rapidly expanding national footprint.
“Institutions managing portfolio investments are challenged with complexity, inconsistency, and cost,” said Joseph Polverari, PURE’s co-founder and general partner. “Our flexible and tech-enabled property management services optimize for simplicity, consistency, and intelligence. This reduces cost and grows value at scale.”
Portfolio managers face inconsistent and inflexible service options from having to engage with multiple independent property management providers across various locations. PURE provides best-of-breed high-tech, high-touch, and hyperlocal property management services consistently across multiple geographic locations and can scale as needed. PURE’s leaders and property managers have over 1,000 years of combined property management experience.
"We worked with Skyline Properties in Atlanta and AHI Properties in Birmingham and Huntsville," said Amir Peleg, founder and partner at Safe Future. "After Skyline and AHI joined PURE, we were introduced to PURE's greater team and grander vision. We were immediately impressed with how focused they are on understanding our specific needs. As we continue to expand our new home development across the U.S., PURE Institutional Management will be a valuable growth partner." Safe Future has developed more than $300 million in properties and is currently involved with over 2,000 properties in the U.S.
With a vision to make the process of renting a home a simple and satisfying experience for all, PURE launched in October 2020 to quickly become one of the largest and most tech-forward residential property management companies in the U.S. PURE manages over 15,000 single-family residences on behalf of individual and institutional investors and operates in over 50 cities and metropolitan areas within 16 states. The company expects to operate in 25 states by end-of-year.
PURE recently closed a $50 million financing which values the business at over $300 million. The financing is aimed at accelerating acquisitions of leading independent property management companies across the U.S. while increasing its commitment to tech-enabling its people and processes to deliver exceptional investor and resident experiences.
“We’ve completed 35 acquisitions and many of those came with previously established institutional clients seeking simplicity and consistency,” said Michael Catalano, PURE’s co-founder and general partner. “The industry is highly fragmented and consolidation leads to consistency. Our ‘band-together-build-together’ mission resonates with seasoned owners of property management companies who share our ‘from-the-industry-for-the-industry’ mantra and are enthusiastic about our collective aim to improve and simplify the experience of renting a home.”
Acquired property management companies and their employees enjoy greater benefits and career growth opportunities. Their experience and local market expertise are “upwardly mobile” within a culture of collaboration. PURE deploys scalable technologies while optimizing business processes and workflow automation to enable acquired operators to grow their services capability to drive increased value for investors, institutions, and their residents.
About PURE Property Management
PURE Property Management is the fastest growing profitable residential property management and technology company in the U.S. Led by a team of experienced industry professionals and seasoned technology innovators, PURE acquires residential property management companies and invests in their people and processes. By deploying technology and providing operational efficiencies, PURE creates simple and satisfying experiences for residents and investors, including institutional portfolio managers. For more information, visit https://purepm.co
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About Safe Future
Safe Future was founded in 2011 by Joseph Berg, Gil Turieli and Amir H. Peleg for the purpose of enabling Israeli investors to invest securely in the United States. In its 11 years of existence, the company has grown and evolved into a dynamic investment and development group focused on securing land and building homes for sale and rent (BTR – SFR) as income-producing assets in diversified demographics throughout the United States, specifically in the Southeast.