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Dodson wraps 2021 with string of Virginia acquisitions

System - Wednesday, December 1, 2021

RICHMOND, Va. (December 1, 2021) — As 2021 wraps up, Dodson Companies is announcing a series of acquisitions that expand its single-family, multi-family, commercial management and brokerage, and homeowner-association divisions.

  • Acquired Nov. 1: Patriot Properties Inc. of Landsdowne, Va. It includes 175 single-family properties and 3,300 homeowner doors as part of a 35-community association management division.
  • Acquired Nov. 15: Plum Street Partners, the property management division of Petersburg-based Waukeshaw Development. The acquisition adds 398 multi-family units.

The deals mark Dodson’s 10th acquisitions of property management companies in recent years. Patriot represents its third acquisition in the association management space, the newest of the Dodson divisions.

  • In addition, Dodson Commercial recently contracted with the Bookbindery in Richmond to manage its 62,896 square feet, as well as 64,109 square feet of flex industrial space (Parkway 3 and 4) in Virginia Beach.

Unit counts

Today, Dodson manages over 5,220 single-family homes and apartments in Central and Northern Virginia, plus 8,030 units under its Association Management division – more than 2.5 times the number of homeowner “doors” under management at the end of 2020. As of January 1, 2022, Dodson Commercial will have 2.3 million square feet under management, up from 1.7 million square feet at the end of 2020. About 27% of the Dodson portfolio is management of affordable rental housing.

These acquisitions come off a string of similar deals over the years, including:

  • August 2020: Polaris Property Management of Sarasota, Fla., Dodson’s first outside of Virginia
  • In Fredericksburg: Park Hill Property Management in 2014, Military Plus Realty and Property Management in 2017, Gunselman Realty & Property Management in 2018, and Get Sold Realty in 2019.
  • In Richmond: Property Managers of Virginia in 2010 and CoreRVA Properties Inc. in 2016.
  • Dodson’s Commercial division picked up Shockoe Companies in 2017, which also had an homeowner’s association (HOA) division.

What is Association Management?

Association management companies provide management, accounting, and administrative services and assist homeowner and condo boards to carry out fiduciary duties to their communities. Dodson is an active and accredited association manager in Virginia and in Sarasota, Fla.

Message from Duke Dodson, President of the Dodson Companies:

“Our purpose as a company is the relentless betterment of people, property, and community. Property management is by its nature a challenging industry that requires constant communication, innovation, and improvement. We are proud that our property owners and association boards trust us to effectively manage their investments and communities, and that residents count on us to help manage their housing needs. Furthermore, we take great pride in supporting those in need in our communities as more than a quarter of our portfolio is in affordable rental housing. We will continue to re-invest into our team and our properties to further our vision of becoming the Southeast’s most trusted property management company.”

ABOUT THE DODSON COMPANIES

Dodson was founded in 2007 as a property management and real estate company dedicated to the needs of investor owners and tenants. The company serves Virginia’s single-family residential, multi-family residential, and commercial clients with management of the day-to-day demands of property ownership and leasing requirements, and handles everyday tenant needs and maintenance issues. Over the years, Dodson has expanded to include Association Management, Portfolio Management, Commercial Management, Maintenance, and Development. The Dodson team has dedicated specialists, advanced processes, and streamlined technologies to skillfully serve and preserve real estate value throughout the region. Learn more at dodsonpm.com.