Oakland-headquartered Mynd, which describes itself as a “tech-powered” residential rental property management company, has acquired San Diego-based Pacific Shore Management for an undisclosed price.
A statement from Mynd, which currently operates primarily in the Bay Area, said the acquisition of Pacific Shore Management, based in Mission Valley, enables the company to continue its expansion into the Southern California market.Mynd acquired Pacific Shore Management’s 595-unit portfolio of single- and multi-family properties currently under management, doubling Mynd’s unit count to nearly 1,100. Pacific Shore will retain its current name.Mynd was started in 2016 by real estate veterans Colin Wiel and Doug Brien, who also founded Waypoint Homes, which provides nationwide listings of single-family rental homes. Mynd is backed by Cannan Partners, Jackson Square Ventures and Lightspeed Partners.Mynd offers what the company calls the rental property management industry’s first real-time data management and mobile app, designed to give property owners “a simpler, more profitable solution” to manage those assets.Pacific Shore Management is led by Krystle Moore, who is also president of locally based Pacific Shore Capital. “We have been in the real estate business for 15+ years and have always felt like technology was underutilized,” Moore said in the Mynd statement.
By Lou HirshSan Diego Business JournalAugust 30, 2017
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