HallKeen Management has made an investment in MB Management. Both companies have a long history of offering professional property management services throughout the Northeast.
"This transaction is the best of all worlds for both companies. It allows both to operate independently while giving both access to complimentary resources of the other. The result will be superior service to clients and residents," said MB Management CEO, Steve Roberts.
Over the next 12 months, the two companies will largely operate independently while preparing for a full merger. The two portfolios will be fully integrated by May 2014. With MB Management's 2,700 apartments, HallKeen Management is slated to manage over 10,000 units of multi-family and assisted living housing by 2014.
"HallKeen is pleased to finalize the relationship with one of the most respected management firms in New England," said Andrew Burnes, president and CEO of HallKeen. "For over 40 years, MB Management has been a key player in the industry. It is an exciting time for both MB Management and HallKeen, as we bring together our companies into a new era of successful business ventures and expertise."