A local property management firm is extending its network of rental home offerings northward after acquiring a Fredericksburg company.
Richmond-based Dodson Property Management, a residential and commercial property management firm, closed Wednesday on its acquisition of Military Plus Realty & Property Management, said company president Duke Dodson.
Terms of the deal were not disclosed.
Dodson said the acquisition will add 155 single-family rental homes in the Fredericksburg area to more than 3,500 single-family units his firm manages across Central Virginia. The agreement also adds Military Plus’ two full-time employees and three sales agents to Dodson’s Fredericksburg office, which previously had one employee. Dodson opened the one-person office there in 2014.
Founded by Jo Anne Green, Military Plus has provided property management and real estate services in Fredericksburg and Stafford, Prince William and Spotsylvania counties. The firm’s focus is assisting military owners and tenants, though the firm also provides property management and real estate services for civilian property owners.
“We look forward to building on the company’s commitment to supporting the housing needs of veterans, retired military, active duty and reserves,” Dodson said.
The Fredericksburg acquisition marks the latest deal for Dodson. In August, the company added more than 700 units in downtown Richmond to its portfolio from CoreRVA Properties Inc., the property management division of Fountainhead Development.