CAHEC Launches CMI
In September 2020, CAHEC officially launched its property management arm, CAHEC Management, Inc. This comes after CAHEC acquired the assets and staff of Boyd Management, Inc. – the largest privately held rural development property management firm of USDA properties – and their property development arm, WWJ, LLC. Boyd Management had over 35 years of experience in managing residential properties, along with a portfolio of more than 325 multifamily assets throughout five states.
This portfolio acquisition diversifies and strengthens both companies and is a natural transition. The two organizations have collaborated for 15 years toward a similar mission of providing affordable housing to low- and moderate-income residents, and this move brings property management and development into CAHEC’s traditional focus on community investment.
“CAHEC and Boyd Management have enjoyed a collaborative partnership, rehabilitating and repositioning more than 200 assets over the last 15 years,” says Dana Boole, CAHEC President & CEO. “Our efforts in the affordable housing market have been innovative, impactful and material to the communities we serve. Our combined organizations will not only continue that effort, but further a diverse and sustainable organization for years to follow.”