Plantation-based Castle Management, one
of the biggest manager of homeowner associations in South
Florida, sold a majority interest to Associa.
Dallas-based Associa bills itself as the nation’s largest community management company. It has more than 200 offices nationwide and already operates in South Florida.
Castle Management, also known as Castle Group, has 1,900 employees and manages 400 communities, founder and CEO James Donnelly said. He didn’t disclose the financial terms of the deal.
“Castle will operate on a standalone basis under the Castle Group brand, and James Donnelly, founder and CEO, will continue to lead the company,” the companies said in a statement. “Castle Group is excited about the new partnership, and remains dedicated to serving our clients with the added benefit of Associa’s resources.”
Castle Group made the Business Journal list of South Florida's largest homeowners association management companies, at No. 3 and the list of largest private companies, at No. 56.
South Florida Homeowners Association Management Companies
Ranked by S. Fla. homeowner/condo associations serviced
1.) FirstService Residential 1,580
2.) Seacrest Services 423
3.) Castle Group 400