Frontdesk Buys Rival Property Manager Zencity
Photo Caption: Zencity founder Christopher Lawrence (left) and Frontdesk CEO Jesse DePinto pose to mark Frontdesk's acquisition of Zencity. Source: Frontdesk
Skift Take
Frontdesk's acquisition of Zencity highlights a consolidation trend among property managers, but also the very fragmented nature of the sector.
Frontdesk, which manages furnished apartments in more than 30 U.S. markets, acquired a smaller rival, the Chicago-based Zencity.
The acquisition, announced Tuesday, is Frontdesk's first if you exclude asset pickups from now-defunct companies, such as Stay Alfred and Wanderjaunt. It adds about 200 1-2 bedroom suites in Chicago, Kansas City and St. Louis
