Property management company Akam recently announced the acquisition of New York City-based Metro Management Development.
While both companies will continue to operate independently, focusing on distinct geographical markets and property types, Akam will harness the scale of both organizations to secure better vendor pricing and benefits. The acquisition will not only enhance service delivery across all properties but also enable strategic investments in functional expertise and systems that will benefit both companies. Metro will also leverage Akam’s extensive resources and services including capital project management, strategic procurement, energy services, insurance and risk management.
David Baron, Metro’s owner, will continue to lead the business as president of Metro Management Development, reporting to Akam CEO Ken Greene. Metro will retain its name.
“We are very happy to welcome Metro and incredibly excited by the opportunities this acquisition presents to our businesses and clients,” said Greene. “We can now serve a wider range of customers while continuing to deliver the high-quality service for which we’re both recognized. With our combined scale, we will offer greater value and benefits, invest further in our businesses, and continue our collective pursuit of excellence in property management.”
The two organizations complement each other, with Akam specializing in the upscale and luxury markets and Metro leveraging its dominant presence in the midscale market.
