Pacific Quorum Properties Acquires Touchstone Property Management

VANCOUVER, British Columbia–(BUSINESS WIRE)–Pacific Quorum Properties Inc., one of British Columbia’s largest
locally-owned property management firms, today announced that it has
signed a definitive agreement to acquire Touchstone Property Management
Ltd., effective October 1, 2016.


It has been a growth-filled year for Pacific Quorum, which has shown no
signs of slowing down. With locations in Vancouver, Surrey and Whistler
already, the company added offices in Kelowna, Penticton and Sicamous
with the acquisition of Okanagan Strata Management in February,
expanding their service offering into the Okanagan. The acquisition of
Touchstone marks Pacific Quorum’s second of 2016, and comes fresh off
the heels of being recognized as one of Canada’s Fastest-Growing
companies by PROFIT 500 for the 4th consecutive year earlier this month.

The Touchstone acquisition increases Pacific Quorum’s management
portfolio, which now includes in excess of 24,000 units, comprised of
close to 400 strata corporations, retirement and investment properties,
leaseholds, housing co-operatives, and commercial properties.

While an acquisition can often spell uncertainty for clients and
employees of the acquired company, leaders from both organizations are
already collaborating to mitigate any concerns over this transition.

John Peccia, President of Pacific Quorum, has asked the entire
Touchstone staff to join the Pacific Quorum Team, while Donna McCrone,
Former President and Managing Broker of Touchstone, will be staying on
throughout the early stages of the acquisition to ensure a smooth
transition for Touchstone’s clients.

“We are extremely excited at the potential that this move brings to our
organization,” says Peccia. “The acquisition allows us to continue
working towards our goals for growth, while adding an excellent team of
dedicated professionals that share our passion for the industry. I
believe this is an excellent opportunity for both teams to collaborate
and learn from each other; which ultimately will only improve the
quality of service that we can offer our clients.”

“The philosophical alignment between Touchstone and Pacific Quorum was
essential to accomplishing this agreement,” says McCrone. “It has been a
very emotional and difficult decision-making process. Having met and
formed so many wonderful relationships over the years, I wanted to
ensure that our clients and team would be well taken care of.”

As a result, McCrone had developed a long list of requirements for any
potential buyers.

“I only considered companies with strong leadership, integrity, and a
passion for the industry,” adds McCrone. “Additionally, I was seeking a
company with a client-centric focus, knowledge of the local market, and
the resources to not only meet the service-level our clients are
accustomed to; but to further add-value. At the end of the day, there
was only one company that completely met my criteria.”

“This is a very exciting time for the team at Pacific Quorum,” says
Peccia. “This move adds value at every level of the organization. We are
adding a talented group of like-minded professionals to our team while
strengthening our position as a local industry leader. Additionally,
expanding our management portfolio puts us in a position to further
leverage our buying power with key trades that service the properties we
manage, meaning that we can potentially add value to our current clients
as well.”

About Pacific Quorum
Founded in 1997 by John Peccia, Pacific
Quorum is one of the largest locally-owned property management firms in
British Columbia. By leveraging its knowledge and experience of local
markets, Pacific Quorum delivers innovative solutions to residential and
commercial properties throughout Metro Vancouver, the Fraser Valley,
Whistler/Squamish, and the Okanagan. Pacific Quorum believes in giving
back to the community it serves, having raised in excess of 9.2 tons of
food to date for the Food Bank and participating annually in the CIBC
Run for a Cure since 2014. Visit Pacific Quorum online at www.pacificquorum.com,
on Facebook at www.facebook.com/pacificquorumproperties,
or on LinkedIn at www.linkedin.com/company/pacific-quorum-properties-inc-.

Contacts

Pacific Quorum
Jennifer Lord-Schultz, 604-685-3828
jennifer@pacificquorum.com