Ryan McGrath, CEO, Asset Living
Ryan McGrath, CEO, Asset Living

Third-party property management firm Asset Living, headquartered in Houston, has expanded its footprint in the Southeast, acquiring Atlanta-based JMG Realty, a real estate company specializing in the development and management of multifamily communities.

This is the second acquisition for the firm this year. In November, it announced that it had acquired City Gate Property Group, a Dallas-based property management firm, adding more than 10,000 units under management in Louisiana and Texas to its portfolio.

The acquisition of JMG Realty adds another 20,000 multifamily units to Asset Living’s portfolio as well as a new corporate office in Atlanta. With over two decades of experience and nearly 600 employees, JMG Realty brings expertise in management, redevelopment, financial, and investment services for multifamily, affordable, and build-to-rent properties for both private and institutional owners. It has regional and divisional offices in the Mid-Atlantic, Northeast, Southeast, and Southwest.

“I’m excited to welcome JMG to the Asset Living family—it was an honor to collaborate with both [JMG Realty CEO] Karlton [Jackson] and [president] Tim [Brock] to make this venture a reality,” said president and CEO Ryan McGrath. “Don’t be mistaken, just because the acquisition is official doesn’t mean that we’ll be slowing down anytime soon. Now, the real work begins. Our plan is to continue this momentum of growth into the new year.”

The acquisition also will provide new opportunities, resources, tools, and technologies for JMG Realty employees to best serve clients.

“This is an exciting time to be joining the Asset Living brand,” said Brock. “We’ve been so impressed by Asset Living’s ability to grow while maintaining best-in-class client service, and we’re excited to bring that same drive to the Southeast.”

Asset Living, one of the largest property managers in the nation, now counts more than 146,000 units under management. According to McGrath, the firm plans to continue expanding the company’s footprint.