Evernest Agrees to Acquire Property Manager Poplar Homes

Sunbelt-focused property management company Evernest is buying Cupertino, California-based Poplar Homes.

Evernest has also raised $15 million in a funding round led by Philadelphia-based private equity firm LL Funds, according to a statement on Wednesday confirming an earlier Bloomberg News report.

The new investment values the combined company at $130 million, people familiar with the matter said, asking not to be identified discussing confidential information.

Evernest offers property management, brokerage, maintenance, insurance and lending services to single-family and small multifamily real estate investors. Since its start in 2008, Birmingham, Alabama-based Evernest has made more than 30 acquisitions ...