PURE Property Management Celebrates 50th Acquisition, Completes 20 Transactions in the First Half of 2022

Published

2 years ago

September 22, 2022

Profitable Proptech Is Now Managing Over 20,000 Residential Properties Across 23 States, Advancing Rapidly Towards Nationwide Coverage

LOS GATOS, Calif., Sept. 22, 2022 /PRNewswire/ — PURE Property Management, the fastest growing residential property management and technology company in the U.S., announced today that it completed 50 acquisitions since its launch in October 2020 with 20 transactions occurring in the first half of 2022.

“The real story here isn’t about the number of acquisitions, but rather the quality and experience of the people joining us,” said PURE Co-founder and General Partner Michael Catalano. “Experienced owners, while technically selling to PURE, are staying on and joining in our mission to band together and build together innovative product and service offerings at scale.”

With the industry’s only true seller-aligned model, property management entrepreneurs can have both an investment in PURE’s future and, because the company is growing rapidly on a national level, they can also enjoy new opportunities for professional growth. Owners who choose to exit at sale can do so knowing that their clients are in good hands and their employees have more career growth opportunities and employment benefits than they could provide them as an independent operator.

As a result, PURE is rapidly acquiring independent property management companies with experienced leaders and management professionals to assemble a team that now counts over 2,000 years of combined property management experience across the company.

“People are our secret sauce. We aim to have the most talented and experienced property managers in the industry join us while we tech-enable their operations for efficiency and growth,” said Joseph Polverari, PURE’s co-founder and general partner. “Collectively, and aided by our technology investments, we’re focused on eliminating the friction and complexities of renting a home for not just our clients and residents, but for the property managers as well.”

Frustrated by the cumbersome and complex process of managing and renting homes within the highly fragmented residential rental market, industry insider Michael Catalano and fintech pioneer Joseph Polverari co-founded PURE Property Management with the vision of making renting a home a simple and satisfying experience for all, and at a scale never seen before.

By empowering its people with proprietary PURE Playbooks, processes, and technology, PURE has rapidly emerged to be an industry leader by delivering consistent, high-tech, high-touch, and hyperlocal property management services in over 300 cities and markets across 23 states. The company is profitable, and acquisitions of independent property management companies nationally are fueled by a recent $50 million financing at a $300 million valuation.

“I’d say over two-thirds of the owners that have joined PURE were not actively looking to sell their business, but were instead intrigued by what we are doing and what their company may be worth,” observes Jock McNeill, vice president of partner relations. “Once they see our strategy and talk to their peers that have joined PURE, they realize that this is a once-in-a-lifetime opportunity. It never hurts to have a conversation about the future.” McNeill’s company was the first to be acquired by PURE.

About PURE Property Management
PURE Property Management is the fastest growing profitable residential property management and technology company in the U.S. Led by a team of experienced industry professionals and seasoned technology innovators, PURE acquires single-family residential property management companies and invests in their people and processes. By deploying technology and providing operational efficiencies, PURE enhances resident and investor experiences. To join our team and for more information, visit https://purepm.co

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SOURCE PURE Property Management

Technology

China Telecom Gulf Officially Launches in Saudi Arabia for Business

Published

19 minutes ago

November 23, 2024

HONG KONG, Nov. 23, 2024 /PRNewswire/ — On November 21, China Telecom Gulf was officially launched in Riyadh. This milestone marks a significant step in China Telecom’s efforts to provide deep services under the “Belt and Road Initiative” and to promote the building of a “China-Arab Community with a Shared Future.” It signifies another solid advancement on China Telecom’s path toward internationalization. Mr. Liu Guiqing, Executive Director and EVP of China Telecom Corporation, delivered an opening speech, along with Mr. Fawaz, Representative of Contact Office of Chinese Companies in the KSA, Deputy General Manager of Industrial and Commercial Bank of China Riyadh Branch. Over 100 guests and leaders from the Economic and Commercial Office of Embassy of the PRC of the KSA, Saudi Telecom Company(STC), Bank of China, Huawei, and others attended to witness this momentous occasion.

In his address, Mr. Liu Guiqing emphasized China Telecom’s commitment to openness, cooperation, and mutual benefit. He expressed the company’s willingness to share its experiences in cloud-network integration, cloud transformation, intelligent operations, and technological innovation. China Telecom aims to work closely with various levels of Saudi governments, enterprises, and partners to actively participate in the development of local digital infrastructure, drive the rapid advancement of next-generation information technologies, and establish a robust bridge for cooperation between China and Saudi Arabia in the field of information technology. Leveraging its extensive resources and global operational capabilities, China Telecom plans to bring its strengths in 5G, cloud computing, artificial intelligence, and other fields to provide innovative, high-quality communication products and services to Saudi enterprises, institutions, and consumers.

Mr. Fawaz extended his warm congratulations on the opening of China Telecom Gulf. He highlighted that as a leading global provider of communication services, China Telecom possesses abundant cloud-network resources and mature international service capabilities. The establishment of China Telecom Gulf is a significant step toward supporting the digital transformation of businesses in the region. He expressed confidence that through joint efforts, the company will seize opportunities in the digital era and contribute to Saudi Arabia’s socio-economic development and practical cooperation between China and Saudi Arabia in various fields.

China Telecom showcased its global resources, business capabilities, and its investments and partnerships in the Middle East and Africa. Key services introduced included eSurfing Cloud, computing power solutions, quantum technology, and customized 5G networks. Currently, China Telecom operates branches in 42 countries and regions worldwide, owns 53 international submarine cables, and manages 27 self-operated Internet Data Centers (IDCs). Its cloud-network integrated infrastructure and customer-centric digital service systems provide coverage across the globe.

During the event, China Telecom Gulf signed strategic cooperation agreements with Saudi Telecom Company (STC), Huawei Saudi Arabia, and Baud Telecom Company. The parties committed to deep collaboration, leveraging their respective strengths to provide optimized and convenient digital experiences to Saudi customers.

The establishment of China Telecom’s presence in Saudi Arabia marks a major milestone in the company’s entry into the Middle Eastern communications market, representing a key development in its global strategy. Moving forward, China Telecom Gulf will leverage China Telecom’s robust digital infrastructure and resource integration capabilities. We will collaborate closely with local Saudi enterprises, Chinese businesses expanding internationally, and global companies to strengthen cooperation and enhance exchanges. The company aims to contribute to the growth of Sino-Saudi and Middle Eastern industrial cooperation, continuously offering more smart solutions for the development of the Middle East’s digital economy, while striving to become a world-class provider of digital and intelligent technology services.

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SOURCE China Telecom Global

Technology

China set to narrow digital divide

Published

19 minutes ago

November 23, 2024

BEIJING, Nov. 23, 2024 /PRNewswire/ — A news report from chinadaily.com.cn：

Representatives discuss hot topics faced by countries in digitalization

China’s forward-looking vision on the future development of the internet offers a glimpse into how cooperation can narrow the digital divide across the world, at a time when an economic slowdown and impeded globalization have stunted growth worldwide, said government officials and industry experts on Friday.

They made the remarks at the 2024 World Internet Conference Wuzhen Summit that ended in Wuzhen, Zhejiang province on Friday.

They also sought more global cooperation to advance the development of the internet in less-developed economies and enhance digital competence for all.

Ren Xianliang, secretary-general of the WIC, said at a news conference, “More efforts should be made to help make the internet a new frontier for all parties to cooperate and continue to create more convergence of interests, growth points of cooperation and new highlights of win-win scenarios in cyberspace.”

“All parties around the world are expected to join hands to build a cyber world where human beings coexist, jointly create a digital future of win-win cooperation and make cyberspace better for all peoples of the world,” he said.

More than 1,800 representatives from governments, international organizations, industry associations, internet enterprises, universities and think tanks from over 130 countries and regions attended this year’s summit, addressing some of the hottest topics faced by countries in digitalization.

Teo Nie Ching, deputy minister of communications of Malaysia, said at the conference that digital transformation is not solely about technological advancement, but also a reflection of human values and actions.

“As technology progresses, we must uphold a core principle of people-centered and holistic development to ensure that technological applications truly serve the common good and promote share to the progress,” Teo said.

A United Nations report found that 2.6 billion individuals globally still lack internet access and a sharp digital divide can also be observed among economies, among industries and between urban and rural areas.

Although many less technologically advanced regions, such as Africa, possess a strong willingness to build an inclusive and equitable digital world, the rapid advancement of technologies often poses a huge challenge to developing countries — how to actively participate and keep pace with this growth, said Nii Narku Quaynor, chairman of Ghana Dot Com.

Against this backdrop, reinforcing open access to internet channels, digital content and technologies can greatly benefit emerging economies in the digital world, he said.

Eyeing a higher-level of inclusiveness, connectivity and cooperation in the internet sector, a statement on global digital cooperation was released by a sub-forum of the WIC.

The statement highlighted the importance of advancing international cooperation on data exchange, enhancing cross-border data connectivity, and narrowing gaps in data circulation, as well as more initiatives to build an open and mutually beneficial international framework for data collaboration.

Intensified efforts should also be made to deepen international exchanges on technology standards, ethical guidelines and legal frameworks, advancing a widely accepted global AI governance system, said the statement.

It also called for human-centered and ethically sound approaches to cutting-edge technologies such as AI, encouraging safe, reliable, fair and transparent research and development as well as applications of AI.

At the opening ceremony of WIC, Chinese Vice-Premier Ding Xuexiang also stressed the need for the international community to jointly deal with problems such as the digital divide and a grave cybersecurity situation to build a better digital future.

The digital divide continues to widen, and the situation of cybersecurity has become more severe, Ding said, adding that the international community is in greater need than ever of jointly advancing a community with a shared future in cyberspace.

China has been sharing the opportunities of modernization with countries around the world and injecting strong impetus into global modernization, Ding said.

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SOURCE chinadaily.com.cn