For immediate release. . .
February 1, 2019
Founded in 1987 by brothers Tom & Shawn Hoban, Coast Property Management is part of the Coast Group of Companies specializing in management of commercial, multi-family, self-storage, student, and condominium properties throughout the Western US, from offices in Everett, Bellevue, Portland, Spokane and Boise. Quantum is an experienced manager of affordable apartment communities in the Pacific Northwest, Montana, and Alaska. This acquisition is their second major acquisition in the past three years. In 2015, Coast acquired the property management arm of Norris, Beggs & Simpson in Portland.
“Quantum and Coast have admired and respected each other as friendly competitors for years” explained Matt Shaffer, Coast’s President. “The combined talent pool we now offer the marketplace is unmatched”.
Founded in 1995, Quantum has focused mostly on management of apartment properties. “We are so proud of what we’ve built at Quantum, but Gaye Barrett and I are excited to move on to retirement” said Doug Repman, President and co-founder. “We wanted to find a place where our clients and staff could have a bright future together” said co-founder, Harry Matsumoto. Harry Matsumoto and another Quantum partner, Deneen Mulligan, will be transitioning into new leadership roles at Coast. “We found that path to a shared bright future with our friends at Coast”.
Coast was a Puget Sound Business Journal Washington’s Best Workplaces award winner in 2018, leaning on their commitment to culture as the driver behind their 30+ years of success, according to John Maihofer, the company’s COO and head of business development. “Culture is everything in property management. It’s the primary driver of why we’ve seen more growth in the past three years than any prior period. Property owners of all types see that difference and want to part of it as well”. The acquisition will make Coast one of the largest property management firms in the region with a portfolio exceeding $5 billion in assets, according to co-founder, Shawn Hoban.
“We measure ourselves differently, though” says Hoban. “Our purpose is to help people live the best lives possible inside our vision to favorably affect the lives of one million people through our work. The tremendous growth we’ve seen the past few years and interest that Quantum’s principals had in bringing their clients and team to us validates that we’re doing great work for our clients but also helps us get closer and closer to fulfilling our vision”.
Matt Shaffer, President
Coast Property Management
425 339 3638