Cushman & Wakefield to Acquire Dallas-Based Pinnacle Property Management Services
CHICAGO AND DALLAS — Cushman & Wakefield has entered into a definitive agreement to acquire Pinnacle Property Management Services LLC, a Dallas-based apartment management firm. With more than 169,000 units across 839 properties in its operational portfolio, Pinnacle is the third-largest multifamily property management firm in the United States. The firm’s client list includes institutional, private and foreign investors; financial institutions; pension funds; private partnerships; sole owners; and government housing groups. The acquisition will boost Chicago-based Cushman & Wakefield’s management division across 20 key U.S. markets, increasing its overall portfolio to 869 million square feet in North and South America. Rick Graf, president and CEO of Pinnacle, will lead the Americas Multifamily Property Management platform for Cushman & Wakefield. The acquisition is subject to customary closing conditions, including antitrust approvals.