Since 2014, Poplar Homes has been making rental property management painless for single-family homeowners and renters alike. Today 14,000+ doors under management, over 7,700 homeowners, and 28,000 residents benefit from property management services empowered by Poplar’s proprietary AI-powered platform and careful human touch.
Today, we are excited to announce that 33 Realty is joining Poplar Homes in a deal expected to expand its full-service property management to multifamily assets nationwide.
In recent statements, executives from both companies shared their insights about what this deal is bringing to the table.
A “game-changer for our industry” is what Poplar’s CEO & Co-Founder called the deal. “This transaction gives Poplar and 33 Realty the unique opportunity to offer a powerful combination of multifamily and single-family investment opportunities with the added benefit of nationwide expansion.”
Similarly, 33 Principals Drew Millard, Eric Weber, and Sean Connelly shared their excitement, “We are motivated by Poplar’s vision to serve as a lifetime real estate partner. This partnership allows us to expand our model into other markets in the U.S. and really aligns well with our corporate vision.”
What’s in it for rental property investors?
Expansion of rental property business opportunities
The acquisition of 33 Realty adds Illinois, Wisconsin, Michigan, and Indiana to the list of areas that Poplar serves. This will give property investors currently using Poplar’s services the opportunity to scale their rental property business even further into these new states.
Additionally, with 33’s expertise, the Poplar team is excited to collaborate on developing a technological upgrade that will allow multifamily investors and developers to grow their portfolios without geographical restrictions while managing them from a centralized location.
Diversification of investment portfolios
Poplar Homes and the 33 team will be working together to leverage 33 Realty’s technology and infrastructure to handle multifamily investments across all Poplar states. This means that in the future, rental property investors can expect the same best-in-class property management services for multi and single-family rentals giving them the unique opportunity to diversify their portfolio from one platform. With the combined expertise and experiences of both companies coupled with powerful automation, preventative maintenance, and robust pricing engines, rental property investors can look forward to maximizing their return on investments in both residential property segments.
About 33 Realty
Since 2008, 33 Realty’s dedicated property management division has built a proven reputation of trust by providing residential property owners and investors with superior property management in the Chicagoland area.
Specializing in multifamily assets, its progressive approach reduces operating costs and vacancy rates, ensures compliance, and increases investment value. Their best-in-class service, innovative technology, and over a decade of experience helped them build a 4,000-door portfolio in the Midwest.
In an email sent by their CEO to their clients, Millard assured that this partnership changes nothing immediately in the way they manage their business. He added that the 33 leadership team and principals remain in place and will be responsible for implementing best-in-class practices for Poplar’s future in the multifamily property management space.
In a recent Poplar Propcast episode, Poplar’s Justin Lieberknecht interviews Mary Gibala, Chief Revenue Officer at 33 Realty, to discuss the Chicago market as a whole, portfolio diversification, and what the union of both companies brings to the table. Listen to that conversation here:
This partnership is expected to benefit both Poplar and 33 Realty investors alike. For single-family investors using the Poplar platform, this partnership will bring the opportunity to delve into multifamily assets for portfolio diversification.
For those currently using 33’s platform, this will be a unique opportunity to expand nationally. With Poplar’s coast-to-coast reach, an investor will be able to benefit from owning an apartment in any of the Poplar states and can expect to get the same quality of service while using a system and infrastructure that resembles what they are familiar with.
With the help of 33 Realty’s expertise and over a decade of experience, Poplar aims to revolutionize multifamily property management by providing unmatched innovation, unbeatable value, and freedom to all owners and developers.