MYND ANNOUNCES ACQUISITION OF PACIFIC SHORE MANAGEMENT
Expands Company Footprint to Southern California; Doubles Units Under Management
August 30, 2017--Oakland, CA-- Mynd, the tech-powered property management company with the industry’s first real-time data management and mobile app, announced today that it has acquired San Diego-based Pacific Shore Management’s 595 unit portfolio. The deal makes Mynd one of the fastest growing mid-cap property management companies in the US and will more than double their unit count to nearly 1,100 in just 10 months of operations. The expansion into Southern California, one of the nation’s largest rental markets, further demonstrates the company’s commitment to overhaul the rental management industry.
“The acquisition of Pacific Shore Management is an exciting opportunity for Mynd to continue our expansion into the massive Southern California market and to enable more property owners and residents to experience the benefits of our tech-powered property management service,” said Doug Brien, CEO and Co-Founder of Mynd. “We are proud to partner with the outstanding team at Pacific Shore Management and look forward to expanding further into the San Diego market.”
Launched in 2016 by real estate veterans Colin Wiel and Doug Brien, Mynd marries homegrown software with industry-leading operations to offer owners a simpler, more profitable solution to manage their rental properties.
“We have been in the real estate business for 15+ years and have always felt like technology was underutilized. When we met the Mynd team and saw how they had leveraged technology to make their management platform more efficient we were extremely impressed. We think Mynd’s approach to management will be game-changing for investors in San Diego,” said Krystle Moore with Pacific Shore Management.
“Acquiring property management firms around the country provides a compelling way for Mynd to seed new markets so they can leverage their 21st century approach to management,” said Rich Boyle, General Partner with Canaan Partners.
Mynd is headquartered in Oakland, CA and was co-founded by Doug Brien and Colin Wiel, both of whom are experts in the real estate and technology industries, and pioneered the single-family rental industry by founding Waypoint Homes (NYSE: SWAY), the first property management company to deploy technology at scale. At the peak at Waypoint they managed and owned 17,000 + single family rentals in 13 markets around the US. Mynd is backed by Cannan Partners, Jackson Square Ventures and Lightspeed Partners. To learn more, please visit: https://www.mynd.co