Move will continue Long & Foster’s growth throughout New Jersey

Long & Foster^® Real Estate, Inc., the largest independently held residential real estate company in the United States, today announced that it has acquired Hanco Property Management and Real Estate, Inc. Located at 1132 Mantua Pike in Mantua, N.J., Hanco Property Management and Real Estate is a full-service real estate company specializing in property management services throughout the southern New Jersey region.

Established in 1980, Hanco Property Management and Real Estate is owned by Eileen Meyers, a licensed real estate agent and broker. The company, which has achieved success in its region, employs four full-time staff, including Meyers, who are responsible for managing about 175 residential and 16 homeowners’ association accounts.

“Long & Foster is known for its excellent property management and rental services, and I am thrilled to join a company that has such a great presence in the market and a great reputation,” said Meyers. “The entire team at Hanco Property Management and Real Estate looks forward to continuing to deliver excellent results for our property management clients with the support of the powerful Long & Foster brand.”

The acquisition continues Long & Foster’s growth in the southern New Jersey region. Long & Foster identified this market as an area in which the company would like to expand its overall presence in 2013.

“We are committed to continuing to serve and grow the Long & Foster brand throughout southern New Jersey,” said Jeff Detwiler, president and chief operating officer of The Long & Foster^® Companies. “In today’s fast-paced, ever-changing real estate market, it is critical for our investment property management team to understand the market to help our business remain ahead of the pack.”

Dedicated to offering a full suite of services to property owners, Long & Foster’s Property Management and Rental Services division, formed in 1981, handles the details of marketing, tenant screening, maintenance oversight and accounting. In 2012, Long & Foster’s team managed more than 5,000 properties, including single family, townhome and condominium rental units, for investors and owners throughout the Mid-Atlantic and Northeast regions.

“At Long & Foster Property Management, we’re dedicated to helping property owners maximize their return on investment–a commitment that has propelled us to become one of the largest single-family property management and rental service divisions in the country,” said Joe Amatangelo, vice president of property management and rental services for Long & Foster Real Estate, Inc. “Eileen and the team at Hanco Property Management and Real Estate are truly passionate about property ownership and management, and they will be an excellent addition to the Long & Foster family.”