Locations Property Management Makes Largest Rental Firm Acquisition in Hawaii History

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Anne Cicero

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Locations Property Management Makes Largest Rental Firm Acquisition in Hawaii History

Oahu's largest property management firm gains 1,000 rental units for entry-level buyers

HONOLULU – (March 12, 2020) - Locations Property Management Division (PMD) – Oahu’s largest property management firm - acquired Honolulu Property Management (a subsidiary of HHL Holdings, which previously owned Honolulu Home Loans), including seven of its employees, Feb. 29, 2020, bringing the total number of rental units managed by Locations to more than 5,000. With more than 1,000 rental units gained, it is the largest property management firm acquisition in Hawaii (excluding association management firms).

“We’re thrilled to welcome the employees of Honolulu Property Management to the Locations PMD ‘ohana, and we look forward to providing exceptional property management services to its former tenants and property owners,” said Locations Chief Operating Officer Ian Bigelow. The former employees of Honolulu Property Management who have been retained by Locations PMD will be supported by a team of 100 dedicated property management professionals, and have access to the firm’s wide breadth of technology and training resources.

“In a business where employee turnover is typically high, our nearly 90-percent retention rate is a testament to the culture of personal and professional growth that Locations PMD fosters,” Bigelow said, adding that Locations PMD leadership is entirely comprised of millennial-aged executives. Locations PMD, which has the largest market share of any property management firm on Oahu, has also acquired local property management portfolios Signature Homes Island Style and City Properties within the past two years.

“As Hawaii’s leading property management firm, our scale and organizational structure allow us to provide top-notch customer service while maintaining healthy profit margins, making Locations PMD an attractive solution for small property management firms that may struggle to achieve this balance on their own,” said Bigelow, noting an additional acquisition of about one hundred rental units is slated for the end of this month. Locations PMD has assured former tenants and property owners who were served by Honolulu Property Management that their existing management agreement terms and fees will remain unchanged. Locations PMD manages more than $2B in real estate assets.

Download hi-resolution photo of Locations Property Management Division executive leadership: https://www.dropbox.com/s/anqhjlzvpzusun6/LOC_PMD_031220.jpg From left to right: Vice President of Property Management Frank Rodriguez, Chief Operating Officer Ian Bigelow and Director of Operations for Property Management Mark Toohey.

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About Locations As the state’s oldest and leading independent real estate firm, our trusted Neighborhood Experts have served Hawaii’s families since 1969. For 50 years, Locations has helped more people buy or sell their homes than any other real estate firm in the state. With our rich kama’aina roots, innovative technology and dedicated market-research department, Locations continues to be at the forefront of this ever-changing industry. Today, Locations has over 400 agents across the state with five offices on Oahu, one on Maui and four on the Big Island (Clark Realty). Through our non-profit, the Locations Foundation, our agents and staff support more than 100 Hawaii non-profit organizations both through monetary donations and volunteer hours. Visit LocationsHawaii.com/about-us today to learn more. For up-to-date Hawaii real estate updates, follow Locations on Facebook at: www.facebook.com/LocationsHawaii, Twitter at @LocationsHI, Instagram at @LocationsHawaii, and LinkedIn at www.linkedin.com/company/locations-hawaii. Read the Locations blog at: www.LocationsHawaii.com/news.