June 29, 2018

Fla. rival buys E. Htfd. property manager

A Florida property manager has entered Connecticut with its purchase of the assets of East Hartford condo-homeowners' association overseer Phoenix Property Management Inc. (PPM) as part of its northward expansion.

Sentry Management Inc., of Orlando, Fla., announced Thursday that it paid an unspecified sum for PPM's assets, including office space at 30 Connecticut Blvd. housing 14 staffers who are now on Sentry's payroll.

Phoenix principal N. Lynne McCarron has joined Sentry Management as a vice president. McCarron did not immediately return a call for comment.

Sentry Management is not affiliated with Hartford realty brokerage Sentry Commercial.

The transaction between both private, closely held companies brings Sentry Management for the first time to Connecticut, and opens the door to its eventual entry into other northeastern and New England markets, said Sentry Management President Bradley Pomp.

Before the Phoenix deal, Sentry Management's nearest office was Baltimore, Md. It now has offices in 15 states.

Sentry will look to expand staffing as its central Connecticut operations take root, Pomp said.

"We're always looking for market opportunities," Pomp said. "We'd love to grow in Connecticut.''

Pomp said consolidation underway in the fractured sector for third-party oversight of condominium owners' and homeowners' associations nationwide largely drove the Sentry-Phoenix transaction.

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