ATLANTA, GA - Atlanta-based real estate and investment management firm, Cocke Finkelstein, Inc. (CFI), announced the pending acquisition of the assets of Lane Management, LLC, to create one of the nation's largest multifamily property management firms, CFLane. The deal is expected to close in late March.
The new company, CFLane, will employ over 800 employees, and the leadership team will be headed up by Byron Cocke and Brett Finkelstein operating as Co-CEOs, Bill Barkwell as CFO, and Ken Miller as CTO. Dan Haefner, the current president of Cocke Finkelstein Management, LLC and former president of Lane Management, LLC, has been appointed President of CFLane, assuming the position of Kelly Scott, who has accepted another position in Houston, TX. The new company's immediate plans include retaining all of the current office locations and personnel as well as business-as-usual for current clients of both.
"This deal brings synergies to both companies," says Byron Cocke, CFI Co-Founder and Co-CEO of CFLane. "The similarities in terms of service and corporate culture will make for a seamless transition, while each company's strengths will allow CFLane to maintain all current office locations and personnel, forming a new company that boasts one of the nation's leading acquisition, property management and asset management platforms."
CFI is an eight-year-old full-service real estate investment firm providing acquisition, development, property management and asset management services primarily in the Southeast and Midwest for multifamily and manufactured housing. Lane Management was founded more than 30 years ago and is best known for its large multifamily property management platform across the Southeast and Texas. Both CFI and Lane acquire properties for investors, which their respective firms then manage.
As CFLane launches into its long-term strategic planning and identification of best practices, leadership will look to provide more efficient and cost effective services with additional economies of scale.
"Lane's excellent long-term reputation in the property management field, its presence in almost a dozen states and its common values complement the successful multifamily platform we have built here at Cocke Finkelstein," added Brett Finkelstein, also a CFI Co-Founder, and Co-CEO of CFLane. "Its assets will help us accelerate our growth into new markets."
"We can achieve more together than we could separately," added Lane Management founder George Lane, who chairs the board of the new entity. "CFI is a successful, well established young company, and we look forward to growing our companies together as CFLane."
Cocke Finkelstein, Inc. is a privately held Atlanta, Georgia-based real estate and investment management firm. Since inception, CFI has evolved into a full-service real estate investment, multifamily property management, asset management and consulting firm, providing services to owners, investors and financial institutions throughout the country. Affiliated entities provide vertically integrated services including property management operations, general contracting, due diligence, property inspections, information technology, human resources and accounting.
Lane Management, LLC is a full-service multifamily real estate company with expertise in apartment acquisitions, property management, asset management and investment management. With over 35 years experience, Lane is recognized as one of the most innovative, efficient and technologically-advanced firms in the multifamily industry. Its goal is to champion excellence at every Lane-managed community.