{"id":1004047499,"date":"2012-09-27T07:04:10","date_gmt":"2012-09-27T15:04:10","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004047499"},"modified":"2022-12-08T19:56:00","modified_gmt":"2022-12-09T03:56:00","slug":"firstservice-merges-three-residential-managementpreservation-subsidiaries","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/firstservice-merges-three-residential-managementpreservation-subsidiaries\/","title":{"rendered":"FirstService Merges Three Residential Management\/Preservation Subsidiaries"},"content":{"rendered":"<p><strong>By Scott Baltic, Contributing Editor<\/strong><\/p>\n<div id=\"attachment_1004047512\" style=\"width: 158px\" class=\"wp-caption alignleft\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/09\/jim_warren_new1.png\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004047512\" data-attachment-id=\"1004047512\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/firstservice-merges-three-residential-managementpreservation-subsidiaries\/jim_warren_new-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/09\/jim_warren_new1.png\" data-orig-size=\"148,163\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"jim_warren_new\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Jim Warren, FirstService Residential Realty\u2019s chief marketing officer&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/09\/jim_warren_new1.png?w=148\" class=\"size-full wp-image-1004047512\" title=\"jim_warren_new\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/09\/jim_warren_new1.png\" alt=\"\" width=\"148\" height=\"163\" \/><\/a><p id=\"caption-attachment-1004047512\" class=\"wp-caption-text\">Jim Warren, FirstService Residential Realty\u2019s chief marketing officer<\/p><\/div>\n<p>As the housing market lurches its way to a presumably inevitable recovery, FirstService Corp., of Toronto, one of the world\u2019s largest property managers, has merged its FirstService Residential Realty, TenantAccess and PropertyAccess subsidiaries, the company announced Tuesday. The combined entity will operate as FirstService Residential Realty, based in Fort Lauderdale, Fla.<\/p>\n<p>The reorganization reportedly makes FirstService Residential Realty the largest provider of \u201ccomplete, end-to-end single-family property management services in North America,\u201d although the company is also heavily involved with multi-family.<\/p>\n<p>Jim Warren, FirstService Residential Realty\u2019s chief marketing officer, told <em>Commercial Property Executive<\/em> that roughly a quarter to a third of the company\u2019s approximately 25,000 units (homes, apartment units and lots) under management are multi-family units.<\/p>\n<p>The company offers services ranging from acquisition, market and property assessments, leasing and evictions through to disposition to such clients as property owners, government-sponsored enterprises, banks, institutional investors and residents.<\/p>\n<p>Greg Tolander, formerly chief operating officer of FirstService Corp. subsidiary Field Asset Services, has been appointed CEO of FirstService Residential Realty.\u00a0 Danielle Cooney, who previously served as vice president of national operations for FirstService Residential Realty, was named chief operating officer, and Warren, formerly senior vice president with TenantAccess and PropertyAccess, was named chief marketing officer.<\/p>\n<p>\u201cWe are going to get extremely aggressive in the multi-family area,\u201d Warren told <em>CPE<\/em>, and explicitly not just in terms of distressed properties. By leveraging the merged company\u2019s connections within its corporate parent, including those with FirstService subsidiary Colliers International, he said, FirstService Residential Realty aims to provide \u201call things rental.\u201d<\/p>\n<p>\u201cThis is absolutely a strategic move,\u201d Warren added, noting that \u201cthere is a horizon\u201d on the current market for services relating to foreclosures and REO, as the nation\u2019s shadow inventory of housing shrinks.<\/p>\n<p>Bolstering the rationale behind FirstService\u2019s move is an announcement just last week from the National Association of Realtors. On Sept. 19, the NAR reported that distressed sales (which combine foreclosure sales and short sales) accounted for 22 percent of August home sales nationwide, down from 24 percent the previous month and from 31 percent 12 months prior.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>FirstService Corp. of Toronto has merged its FirstService Residential Realty, TenantAccess and Property Access subsidiaries, which will operate as one in Fort Lauderdale.<\/p>\n","protected":false},"author":882,"featured_media":1004047512,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,21742,21785],"tags":[],"class_list":["post-1004047499","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-latest","category-property-management"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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