Proper expands into 15 states with nearly 20,000 units, offering liquidity and growth for property management owners.

CHICAGO, Feb. 27, 2026 /PRNewswire/ -- Proper, a national acquisitions and property management platform dedicated to consolidating property managers, announced today the successful acquisition of two additional operating companies, bringing the total to six companies under its umbrella: Novo Properties, Alexander Properties Group (APG), FLATS, Guardian, CommonPlace, and Drexel.

These strategic additions mark a pivotal moment in Proper's mission to offer a viable liquidity option for property management company owners while strengthening their operational backbone and supporting their employees.

Greg Selfridge, Novo Properties CEO, comments, "Proper brings infrastructure and resources that allow a mid-sized company like NOVO to build a stronger foundation and operate with greater efficiency. Property management is a people-driven business, and Proper combines disciplined processes with thoughtful technology to elevate both the employee and resident experience."

Andy Alexander, President of Alexander Properties Group, added, "Partnering with Proper allows us to access the institutional firepower and capital resources of a national platform without sacrificing the local relationships that define our success. This collaboration ensures our team has the tools to thrive in an increasingly competitive market while preserving the legacy we've built over decades."

By acquiring these distinct brands, Proper has rapidly scaled its portfolio to nearly 20,000 units across 15 states.

"The property management industry is fragmented and facing increasing operational headwinds," said Alex Samoylovich, Executive Chairman and Founder. "We are building the solution we wished existed when we were independent operators. By consolidating these six best-in-class companies, we are not just aggregating units; we are creating a collaborative network that shares operational resources, geographic reach, and purchasing power."

A New Model for Consolidation

Unlike traditional roll-ups that immediately integrate systems and people, often disrupting the acquired company's culture upon acquisition, Proper's model is built on "Flexible Autonomy." Our partners gain immediate liquidity and access to enterprise-grade resources while securing the future of their employees and brand legacy.

• Geographic Reach: Now operating in 15 states, offering partners a wider footprint.
• Operational Depth: Centralized back-office support that reduces administrative burden.
• Diverse Expertise: A collective portfolio ranging from luxury high-rises to garden-style communities.

"The market response from property management company owners has been clear—they need a path to liquidity that doesn't compromise what they built," said Brian Duggan, CEO. "Whether an owner wants to stay involved operationally or exit completely, Proper offers a platform that values the ethos of the acquired company. We are actively seeking new partners who want to unlock their equity while ensuring their teams continue to thrive under a well-capitalized, national platform."

Multimedia & Resources

• Proper: properpmc.com 
• Partner Websites:guardianproperties.com | livecommonplace.com | flatslife.com | drexelproperties.com | livenovo.com | apg-inc.com

About Proper. Headquartered in Chicago and backed by TriSpan, Proper brings together best-in-class local management companies under its collective of owners model. With a rapidly growing portfolio of partner companies, Proper combines the operational infrastructure of a national powerhouse with the specialized expertise of local stewardship. Founded by Brian Duggan and Alex Samoylovich, the company empowers its teams with streamlined processes and national resources, ensuring the focus remains on delivering long-term value for owners, residents, and communities. For more information, visit properpmc.com.

About TriSpan. Founded in 2015, TriSpan is a private equity firm with offices in New York and London that invests in lower middle market companies in North America, Europe, and the United Kingdom. TriSpan is committed to creating value using a combination of deep operational and financial resources to accelerate growth and drive improved performance. For more information, please visit the firm's website at www.trispanllp.com.

Property Management, Done Right.

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SOURCE ProperXPM