Casalova Announces Acquisition of My Property Managers
Toronto online real estate marketplace Casalova has announced an acquisition of My Property Managers and the entirety of its $35 million in assets.
My Property Managers bills itself as a professional property management group that helps handle and oversee residential investment properties in Toronto’s downtown core, Etobicoke and Mississauga. The entire My Property Managers team will be joining Casalova.
“We believe in creating a seamless one-stop experience for our clients. This means that people can now buy, rent, manage, and sell properties all through Casalova,” Casalova CEO Ray Taaeb said in a press release. “Creating this experience will streamline the entire process as we move towards our vision of creating a full-service solution to become the go-to real estate platform for Canadians.”
As part of the acquisition agreement, current My Property Managers customers will receive rent guarantees of $50,000 and vandalism protection of $50,000 as well. These guarantees were some of the most attractive selling points for landlords and property managers using Casalova.
Casalova is planning to grow its total assets under management to $100 million by the end of this year through further company acquisitions and the natural growth of its client base.
