Packaged Living has expanded its in-house property management business through the acquisition of Apo Group’s third-party operations for an undisclosed price.
The transfer will see a portfolio of approximately 1,000 homes across Liverpool, Manchester and London absorbed by Packaged Living. Apo’s brand, core systems and processes, and client contracts will also be folded into Packaged Living.
The enlarged property management business will continue to trade under the Apo brand and will be led by Stewart Moore, former chief executive officer of international student accommodation provider CRM Students.
Ed Ellerington, CEO of Packaged Living, said: “Operating the homes we build and invest in has been central to our approach for some time, and this is a natural step in scaling that capability. Folding the Apo brand into the wider Packaged Living Group gives us a larger, more established operational platform, and in Stewart we have a leader with the experience to take it forward. Quality of management is what ultimately defines the resident experience and the long-term performance of an asset. Strengthening our in-house capability puts us in the best position to deliver for residents and investors as the portfolio continues to grow.”
Moore added: “Packaged Living has built a distinctive, fully integrated model, and I am delighted to lead the property management business as it grows. Combining Apo’s brand, established systems and client relationships with Packaged Living’s platform gives us a strong foundation to deliver a consistently high standard of first- and third-party product.”
