EVERETT — Coast Property Management has acquired Quantum Management Services, a Lynnwood property manager.
The terms of the deal were not disclosed.
Coast is part of the Coast Group of Companies, which manage commercial, multi-family, self storage and condominium properties.
It has offices in Everett, Bellevue, Portland, Spokane and Boise. Founded in 1987 by brothers Tom and Shawn Hoban, Coast has a portfolio that exceeds $5 billion, Shawn Hoban said.
Quantum’s focus is managing apartments in the Pacific Northwest, Alaska and Montana.
“Quantum and Coast have admired and respected each other as friendly competitors for years” said Matt Shaffer, Coast’s president. “The combined talent pool we now offer the marketplace is unmatched.”
“We are so proud of what we’ve built at Quantum, but Gaye Barrett and I are excited to move on to retirement” said Doug Repman, Quantum’s president and co-founder.
“We wanted to find a place where our clients and staff could have a bright future together” co-founder Harry Matsumoto said.
Matsumoto and another partner, Deneen Mulligan, will move into new leadership roles at Coast.
Coast said the deal is the company’s second major acquisition in the past three years.
In 2015, it acquired the property management arm of Portland-based Norris, Beggs & Simpson.