SSH Real Estate Acquires Properties & Facilities Management Firm

Picture by Gerd Altmann through Pixabay

Philadelphia-based SSH Actual Property, one of many largest privately held business actual property companies corporations within the Mid-Atlantic, simply bought bigger. The corporate has elevated its companies and footprint with the acquisition of Benefit Constructing & Services Providers, a property and services administration agency based mostly in West Chester, Pa.

A fixture on the true property scene since its formation in 1952, SSH has been in development mode of late, with its property administration and brokerage enterprise increasing quickly, significantly within the suburbs. The acquisition of Benefit was a pure subsequent step within the firm’s evolution. By unifying the 2 companies, SSH has additional expanded its property administration platform, geographically extending its presence into Western Pennsylvania, New Jersey, Maryland, Delaware and Washington, D.C.

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Peter Soens, Founding Companion, SSH Actual Property. Picture courtesy of SSH Actual Property

Moreover, the transaction has allowed SSH to determine a brand new upkeep service division in a single fell swoop. The alliance of the businesses offered a mess of benefits. “We additionally noticed [the acquisition] as a terrific alternative to fill an actual void within the market the place many house owners are going through challenges hiring and retaining certified upkeep engineers,” Peter Soens, founding associate of SSH Actual Property, advised Business Property Govt. Soens leads SSH with Gregory Muller, who moved as much as the function of associate on the agency in 2015.

Along with sharing the identical company tradition, the 2 corporations share a historical past, as SSH has relied on the companies of Benefit for a few years. Established in 2005, Benefit has been a supplier of property and services administration companies for usually all business asset sorts, together with workplace buildings, industrial properties and retail websites.

Providers trade standing

The business actual property companies trade took its hits throughout the pandemic like virtually each different trade. Nevertheless, the results of the worldwide well being disaster additionally shined a lightweight on the need of such companies.

“There have all the time been ebbs and flows to the brokerage and funding companies, which have been actually impacted by the pandemic. The Benefit mannequin of offering upkeep companies and property administration to a extremely numerous mixture of buildings grew to become extra interesting since these companies are all the time wanted, so, subsequently, present extra constant income,” Soens stated.

SSH retained all Benefit staff, so each households stay intact as one. The transaction is unlikely to be a one-off, as SSH is exploring extra acquisition alternatives because it pursues its development agenda.