February 11, 2019
FirstService Residential has struck a pair of deals to expand its Chicago property management operations. The company is acquiring Lieberman Management Services for an undisclosed sum, and taking over Draper and Kramer’s condominium management division, DK Condo.
The addition of Lieberman, a market leader founded in 1971, will triple FirstService’s Chicago-area management portfolio. Lieberman, which will continue to be led by CEO Carla Kennedy, has 250 properties and more than 40,000 apartment units under management.
Similarly, Draper and Kramer VP Ian Novak will continue his oversight of the former DK Condo portfolio for FirstService. He’ll be joined by other members of the DK Condo team.
“Marrying our vast corporate resources with the personal touch of local experts, who are part of the fabric of the communities we manage, has been a hallmark of our success in Chicago and across North America,” said Asa Sherwood, president of FirstService Residential Illinois.
Pictured: Water Tower Place
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