A Sydney-based agency has consolidated its property management offering, acquiring a locally renowned business and its rent roll.
First National Real Estate Hunters Hill, Gladesville, Ryde & North Ryde has revealed it has acquired Putney and Ryde-based agency Property Circle.
According to a statement from First National, it’s allowed for the consolidation of “an 11-year trajectory of growth”.
According to Robert Bagala, co-principal of the business, the onboarding of the Property Circle team is both a “strategic investment” and “adds expertise to our team”.
He added that the merger “will strengthen our market leadership from Hunters Hill to North Ryde, and along the Parramatta River waterfront”.
“With our three most senior property managers — John Fabrizio, Danielle Younan and Rachael Kershler — taking over management of Property Circle’s rent roll, we’re primed for further growth and excited about the future,” said Mr Bagala.
It’s been reported that Property Circle will complete its transition into the team at First National Hunters Hill, Gladesville, Ryde by 1 October 2021.
Mr Bagala leads the agency with George Agostino, with the pair helming up four offices after starting with one just over a decade ago.
He has credited the network’s structure in enabling them “to invest more in the growth of our business, its systems and technologies, while we focus on culture, professional development, and delivering the best outcomes for our customers”.
The new acquisition follows the previous purchase of a major rent roll 18 months ago in Gladesville and the merger of that team into the business.