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Birmingham, Alabama-headquartered Evernest, a single-family and small multifamily property platform, has acquired Cupertino, California-based property management firm Poplar Homes.

Poplar serves property owners in 17 states, including six where Evernest did not have a presence – California, Oregon, Illinois, Nevada, South Carolina, and Washington. The acquisition is Evernest’s largest to date and provides the tech-enabled property management platform a nationwide footprint while expanding its management portfolio to nearly 23,000 units across more than 50 markets.

The financial aspects of the transaction were not disclosed, although Evernest also announced it secured $15 million in a strategic funding investment led by LL Funds, a Philadelphia-based private equity firm that was one of Poplar’s strategic investors.

“The combination of this acquisition and LL Funds’ strategic investment supercharges our vision of simplifying rental property ownership for the millions of rental property owners throughout the US,” said Matthew Whitaker, Evernest founder and CEO. “Poplar’s addition gives us a presence in six new states, including the West Coast, enabling us to bring additional operating efficiencies to our property owners. LL Funds’ investment allows us to operate from a position of strength, enabling us to scale, increase market density, and deliver profitability to our clients at a pace that sets us apart in the industry.”