STM Purchases The Strata Agency
EXPANDING New South Wales strata company Strata Title Management has bought troubled rival The Strata Agency.
Headquartered in Sydney’s North Shore, The Strata Agency which had looked after over 240 buildings and 5,500 units in the Sydney market for the past five years was placed in administration under the care of Brent Kijurina and Richard Albarran from Hall Chadwick in February.
STM, which was established in 1978 and now managing over 25,000 lots, has finalised its acquisition of The Strata Agency with a specifically selected team to restore faith, transparency and credibility back into the management of TSA lot owner properties.
STM is a subsidiary of Vesture Limited, a listed national property company specialising in strata title management.
Vesture Chief Executive Officer Mr Patrik Bruhlmann says STM’s purchase of The Strata Agency should end months of uncertainty for the 240+ owners corporations involved.
“Our first priority is to reassure the owner’s corporations and the owners of the apartments that they are in safe hands,’’ Mr Bruhlmann said.
“We have written to each and every one of the owners to inform them of the change of ownership and we will be conducting a series of meetings to help educate owner’s corporations regarding the level of service, expertise and latest industry knowledge that we will be providing to them.