Irvine-Based Keystone finalizes purchase of Progressive Community Management of Mission Viejo, CA.
IRVINE, CA (May 6, 2019) – Keystone, Southern California’s growing community management specialist, has completed its first acquisition with the purchase of Progressive Community Management of Mission Viejo. Finalized late last week, the acquisition marks the first such transaction for Keystone and propels the Irvine-based company’s growth.
“We know that the key to improving our client’s daily lives and communities they live in is accomplished by building outstanding relationships. At Progressive, we found a team that shared this belief and we are thrilled to welcome their team into the Keystone family,” said Cary Treff, Keystone CEO. “This acquisition is a strong culture fit and allows us to share our unique service offerings to more clients.”
Keystone, which manages communities throughout Orange, Los Angeles, Riverside, San Diego and, San Bernardino counties, has a current portfolio of properties ranging from large-scale, master-planned communities to smaller, single family residences. The transaction brings Progressive’s single-family communities into the portfolio. Keystone is delighted to welcome Progressive’s long-time team members who are expected to transition with the clients.
“After 25 years in the industry, we decided the time was right for a change,” said Progressive Principal, Cathy Acquazzino. “We were extremely pleased to find a true partner in Keystone who shares our values and has a similar culture.”
Acquazzino, along with fellow Principal, Lisa Klasky, will move with their Mission Viejo-based team to the Keystone corporate offices in May. The Principals will remain onboard to ensure a smooth transition for clients and team members.
The purchase of Progressive marks a significant milestone for Keystone. The company had charted a path to bring outstanding service to more clients through both organic growth and acquisitions by the end of 2019. To have completed one of those core objectives so early in the year has garnered excitement for the 37 year-old company.
For the past two years Keystone has focused on strengthening operations, acquiring talent and building our vision,” says Treff. “The finalization of this first major acquisition has shown us that intentional planning and finding the right partners is a winning combination for future endeavors.”