Fairgrove has acquired Constellation Realty Management, bringing the total number of apartment units under Fairgrove’s control to more than 9,500 in the region.
The acquisition of San Diego-based Constellation Realty is the 9th management company acquired by Fairgrove, which is headquartered in Irvine. Founder and Chief Executive Officer Marco Vartanian purchased Sullivan Property Management in 2019 and then rebranded the company name to Fairgrove in 2023 to better reflect the company’s mission and services it deploys across Southern California.
“As we approach 10,000 units under management, the Constellation Realty acquisition marks an important milestone for Fairgrove. Since day one, our mission has been, and continues to be, to grow into the best middle market property management company in Southern California,” said Vartanian, a veteran real estate executive and entrepreneur. “Our industry-leading retention of owners and residents proves that we are serving the best interests of our clients and their communities and building trust that translates into long-term relationships and sustainable growth.”
While acquisitions have accelerated Fairgrove’s rapid growth in recent years, nearly 50% of the firm’s expansion has been the result of multifamily property owners seeking out Fairgrove’s industry leading services. Vartanian believes it’s the firm’s “organic growth” that is the best indicator Fairgrove is setting a new standard for apartment management services throughout Southern California.
With a team of 234 associates, Fairgrove specializes in managing multifamily properties with 10 to 200 units in Los Angeles, Orange, Riverside, San Bernardino and San Diego counties. The San Diego market is currently Fairgrove’s largest with more than 5,000 units under its management umbrella, including 2,400 units just added to its overall portfolio from Constellation Realty.
The Constellation Realty purchase, Vartanian said, was highly strategic because the firm’s “culture of service, dedication to clients and commitment to excellence” aligns with Fairgrove’s core values. Vartanian praised Chris Honeycutt, founder of Constellation Realty, for building an exceptional company with a strong reputation of best-in-class service and management practices.
“We’re honored to carry that legacy forward and we look forward to combining our expertise, resources and shared commitment to excellence for the benefit of every property owner and resident we serve,” Vartanian said.
As part of the acquisition, Fairgrove will retain all of Constellation’s employees.
By joining Fairgrove, Honeycutt said Constellation’s clients will now have access to expanded administrative resources, advanced technology and more operational support while still receiving the personal care and responsiveness his firm has become widely known for in the highly competitive San Diego market.
“It is truly the best of both worlds,” Honeycutt said. “Fairgrove represents the best of our industry—innovative, client-focused and committed to excellence. I have no doubt that our clients and employees will thrive in this new chapter.”
Next article
