Plano, Texas, May 16, 2022 (GLOBE NEWSWIRE) -- RealManage is pleased to announce the successful closing of up to $100 million of debt capital. On February 16, 2022, Prosperity Bank led and served as the administrative agent of the credit facility, which includes a syndicate of institutional lenders. This will allow RealManage to continue its vision of becoming the best company in the world at managing jointly owned properties. They currently are the third largest community association management company in the country.
"Securing this syndicated loan will provide us the resources to continue supplementing our organic growth with select strategic acquisitions. This successful transaction reflects our lenders' confidence in our financial strength and our bright future," said Christopher ONeill, Chief Executive Officer of RealManage.
About Prosperity Bank:
Ranked #6 by Forbes Magazine America's Best Banks 2022, Prosperity Bank is a $37.8 billion Houston, Texas-based regional bank providing banking services to small to medium-sized businesses throughout Texas and Oklahoma. Prosperity Bank provides a full suite of business solutions including commercial lending and treasury solutions for commercial businesses, trust and wealth management, and cash management. Founded in 1983, Prosperity believes in a community banking philosophy, taking care of customers, businesses, and communities in the areas it serves by simplifying everyday financial needs.
About RealManage:
RealManage operating history goes back more than 30 years. Since its founding, they have grown rapidly through customer referrals and select acquisitions to rank as one of the nation's top three HOA and condominium management companies. The company specializes in managing homeowner and condominium associations ranging in size from under 100 homes to over 10,000 homes, including expertise in high-rise condominiums and luxury, lifestyle, and master-planned communities.
