Property management company Hello Alfred has acquired the tech-focused management business HOM in an all-equity deal. The deal will allow Alfred to boost its amenity offerings for residents and expand its scope in the commercial building market. The acquisition will also grow the combined services to 160,000 units in 35 markets across the U.S. and Canada. HOM employees will join Alfred, while HOM CEO Francesca Loftus will lend her amenity service expertise as Alfred’s new director of community growth. Terms, including the closing price, have not been revealed.
Dedicated to streamlining the lives of building tenants through access to services like cleaning, grocery delivery, and pet care, Alfred provides a platform for landlords to oversee property management tasks like maintenance requests, rent payments, and package delivery. The company, which counts Brookfield Properties and Related Companies among its landlord clientele, recently closed on $42 million in Series C funding.
According to The Real Deal, HOM is a “tech-enabled amenities provider” also targeted at landlords. The company gained popularity thanks to the curated fitness and wellness programs it offers in more than 300 multifamily and commercial buildings in the U.S. and Canada. Concepts from meditation classes to rooftop mini golf courses were among the enticing programs that caused HOM to surge in the last year and triple its client base during the pandemic.