FirstService Residential announced that it has secured full‑service property management contracts for the Bear Lake Reserve Owners Association in Tuckasegee, North Carolina, and for The Reserve at Chestnut Ridge Homeowners Association in Magnolia, Delaware, effective April 16 2026. The agreements add recurring revenue to the company’s portfolio and underscore its focus on high‑value, amenity‑rich communities.
The Bear Lake Reserve community, located in the Blue Ridge Mountains, features a 9‑hole Nicklaus Design golf course, 20 miles of nature trails, and a lake. FirstService will provide financial services, resident‑experience enhancements, and ongoing operational support. “After supporting the association with financial services, we are thrilled to assume full management responsibilities and officially welcome Bear Lake Reserve to the FirstService Residential family. Our team is committed to elevating the resident experience and delivering the exceptional service this remarkable community deserves,” said Michael Mendillo, President of the East Region.
The Reserve at Chestnut Ridge offers a clubhouse, pool, fitness center, playground, and walking trails. FirstService will manage maintenance, resident communications, and amenity activation. “We are pleased to welcome The Reserve at Chestnut Ridge to the FirstService Residential family. We look forward to partnering with the board to enhance the resident experience and deliver responsive, high‑quality service,” said Mendillo. “Our team is already working closely with the board and residents. They were looking for a management partner with strong resources and deep experience, and we are proud to deliver both from day one,” added Trent Harrison, President of FirstService Residential.
These wins reinforce FirstService Residential’s strategy to expand in high‑value, amenity‑rich communities and support its outlook for mid‑single‑digit organic growth in the residential segment. “We’ve already hit the ground running, collaborating closely with the board and residents. The board’s confidence in our financial stewardship played a key role in their decision to expand our role, and we’re honored to serve as their long‑term management partner,” said Dennis Abbott, President of the Carolinas.
The announcement is part of a series of incremental positive news that has historically reinforced investor confidence in FirstService Residential’s growth strategy, highlighting the company’s continued success in securing high‑profile community management contracts.
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