BLOOMINGTON, Minn. (July 16, 2014) – FirstService Residential in Minnesota, the Twin Cities’ leading community association management company, has acquired Laukka Management, Inc. (LMI), an Edina-based, mid-size community association management firm. The acquisition brings a talented team and 52 common-interest community associations to FirstService Residential’s best-in-class property management portfolio.  The acquisition was completed on July 11, 2014.
LMI has more than 6,500 living units under management.  Its clients include large-scale condominiums, single-family homeowner associations, master associations, and small, medium and large-sized townhouse communities.
FirstService Residential will maintain the same values and practices established by the Laukka family and bring current and future residents nationally supported technology, training and best practices.
The LMI team will remain unchanged and the current president, Michael Laukka, will remain as president of Laukka Management.
“I feel confident that this move will enhance the service experience of our current clients,” said Laukka.  “FirstService Residential brings additional resources, award-winning expertise and the same high standard of service we’ve spent 20 years establishing with our communities.”
FirstService Residential was attracted to LMI for its talented team with a deep knowledge in the community management industry, and strong presence in the suburban marketplace that help to expand FirstService Residential’s service offerings in the Twin Cities, according to Mark Gittleman, president of FirstService Residential in Minnesota.
“LMI has done a phenomenal job building a trusted and respected name for itself,” said Gittleman. “With the addition of the LMI team and its properties, we will be able to provide additional resources to community members over time while maintaining the service standards that LMI has established.”
About FirstService Residential
FirstService Residential is a subsidiary of FirstService Corporation, a global leader in the rapidly growing real estate services sector, one of the largest markets in the world. As the largest residential property manager in North America, FirstService Residential oversees more than 6,500 residential and commercial associations including 1.5 million residential units and over 50 million square feet of commercial space across 21 U.S. states and three provinces in Canada. The company has more than 12,000 employees driving local market expertise and managing in excess of $6 billion in annual budgets.
About Laukka Management, Inc.
Edina-based Laukka Management, Inc. was created as a new kind of property management company designed to provide a special list of clients with the highest level of professional property management services available. In 1985, the company initially served as an ancillary to L.A. Laukka Development Co. to manage the various association-style communities developed by Larry Laukka. Michael Laukka and Mike Kojetin formally established and incorporated Laukka Management in 1993, and since, it has grown into a medium-sized incorporated firm that currently manages common-interest community associations. LMI earned distinction as a premier Accredited Association Management Company (AAMC®) in the State of Minnesota. The AAMC designation is a testament to LMI’s integrity, knowledge and experience of the community association industry. For more information visit the Laukka website.  
Jul 17, 2014