PHOENIX, Oct. 13, 2020 /PRNewsCentre/ — PR3 Management, the fee management division of Progress Residential®, is pleased to announce that it will take over property management services for The Village at Cottonwood Springs in Northeast El Paso, Texas, one of Hunt’s single-family rental home communities. This agreement brings together two giants in the Single-Family Rental (SFR) industry.
"This is a great opportunity for two seasoned housing providers to collaborate and continue to evolve the SFR management space," said Scott Baad, Executive Vice President of Progress Residential and head of PR3 Management. "Hunt is a provider of market-rate and affordable multifamily communities as well as military housing across the U.S., and Progress Residential manages over 40,000 single family rentals focused on conventional renters. This agreement opens exciting opportunities for both companies and benefits the hundreds of residents that call these houses home."
"As the third-largest owner of single-family rentals in the U.S., we welcome the industry-leading expertise that PR3 Management by Progress Residential will bring to The Village at Cottonwood Springs community. We hope this agreement leads to a long and beneficial relationship," said Brian Kelley, Asset Manager with Hunt.
The Villages at Cottonwood Springs in El Paso, Texas is a community of 300 single-family homes located near the foothills of the Franklin Mountains within walking distance to the best recreational trailheads in the region and top-rated elementary and middle schools. With easy access to U.S. Route 54, it is minutes from North Hills Shopping Center, Ft. Bliss, the airport, downtown, and all other areas of the city.
Hunt, based in El Paso, Texas, is a diversified, family-owned holding company that invests in operating businesses, real estate assets and infrastructure assets. Since its founding in 1947, Hunt’s size and scope have grown substantially while gaining considerable expertise across multiple real asset sectors. Hunt’s reputation is built on integrity and performance. Hunt is committed to a culture of transparency for employees, clients, investors, and the communities it serves. Hunt and its affiliates employ more than 3,000 people across the United States and Europe. Learn more at www.huntcompanies.com.
PR3 Management by Progress Residential® is a market leader in intelligent single-family rental management services with the people, technology, scale, and data-driven solutions that streamline operations and optimize asset performance. Powered by Progress Residentialâ, a recognized leader in the single-family rental (SFR) industry with nearly 40,000 homes in 19 markets, PR3’s clients have access to the business intelligence, strategic services, smart tech, and logistics platform originated and optimized by Progress – the same platform that is revolutionizing the SFR space. Currently PR3 has a presence in Atlanta, Charlotte, Dallas, Houston, Indianapolis, Jacksonville, Las Vegas, Memphis, Miami, Nashville, North new Jersey, Orlando, Phoenix, Raleigh, Sarasota, South New Jersey/Philadelphia, Tampa and Tucson. For more information about PR3, visit https://rentprogress.com/pr3-management/.
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SOURCE: PR3 Management, LLC