Asset Living, a Houston-based leader in the property management sector, announced today that it has acquired Alpha Barnes Real Estate Services, a Dallas-based property management firm with a focus on managing various types of multifamily and affordable housing including Section 8, low-income housing tax credit (LIHTC),
HUD financed, and senior housing communities.
Since the mid 1970s, the principals of Alpha Barnes have been working in the real estate industry developing and managing multifamily properties. Today, the firm is the 13th largest property management provider for affordable housing in the country and the largest in Texas. Alpha Barnes has additional offices in San Antonio and Austin, with a combined total of more than 900 employees throughout Texas.
“Alpha Barnes has always been driven by the desire to provide the best possible property management and compliance services to our clients,” said Michael Clark, partner of Alpha Barnes. “We look forward to taking advantage of the additional capabilities that the Asset Living partnership will provide us to continue our pursuit of that goal. We knew joining Ryan and his team was the best way to start 2021 and we are excited to see where this partnership will take us.”
This acquisition has allowed Asset Living to add an additional 30,000 units to its expanding portfolio making it one of the largest property managers in the U.S.
“Alpha Barnes aligns well with our core values and we’re excited to bring them into our growing organization,” said Ryan McGrath, CEO of Asset Living. “The addition of the Alpha Barnes portfolio greatly expands our footprint throughout all major and neighboring cities in Texas with offices now in Houston, College Station, Austin, San Antonio and Dallas.”
This partnership will broaden Asset Living’s comprehensive suite of services by leveraging Alpha Barnes’ affordable housing expertise. The Alpha Barnes team will now have access to an entirely new range of resources such as a wholly owned top tier marketing agency, a dedicated new lease-up division and capital to serve clients in new adjacent markets.
“Our entire team is excited about this new journey with Asset Living and we see this acquisition as only the beginning of many great things,” said Hugh Cobb, partner of Alpha Barnes and president of the Texas Apartment Association. “We’re eager to continue to grow our portfolio under the Asset Living brand.”
Founded in 1986, Asset Living (“Asset”) is a Houston-based real estate management firm. With a growing portfolio that includes a multitude of properties across the nation, Asset provides services to a variety of clients that include property management, asset management, receivership, and investment services. Asset is a member of The Institute of Real Estate Management (IREM), and is recognized as an Accredited Management Organization (AMO). To learn more, please visit www.assetliving.com.
Since the mid 1970’s, the principals of Alpha Barnes have been working in the real estate industry developing and managing multifamily properties. In 2000, The Barnes Companies and Alpha Management merged to form Alpha Barnes as we know it today. With a depth of experience across many markets and asset types, Alpha Barnes has become a leader in the affordable property (LIHTC, Section 8 and other) management. The company is the 13th largest manager of affordable properties in the country.