
33 Realty Sells Property Management, Maintenance and Leasing Divisions
Poplar Homes, the Cupertino, CA-based property management company, has acquired Chicago-based 33 Realty’s property management, maintenance and leasing divisions as it expands into multifamily property management and extends its U.S. footprint. 33 Realty’s investment brokerage and distressed assets divisions were not part of the transaction and will continue to operate under the 33 banner. Deal terms weren’t disclosed.
33 will remain based out of Chicago and transition operations gradually over the next three years with the current C-suite remaining at the helm and running the business. 33 will eventually be rebranded to Poplar Homes.
“We were motivated by Poplar’s vision to serve as a ‘lifetime real estate partner,’” said Drew Millard, 33 principal and founder. “This partnership allows us to expand our model into other markets across the U.S. and really aligns well with our corporate vision. It is a win-win for both parties.”
- ◦Sale/Acquisition