Cortland Fund Services has been appointed to provide fund administration services to Diversified Residential Group, a real estate investment management firm based in Scottsdale, AZ.
Diversified specializes in the acquisition, repositioning, leasing, management and disposition of bulk single-family homes and apartment buildings. The firm has more than $22 billion in assets under administration.
Cortland will serve as its third-party fund administrator providing fund accounting, investor servicing and other services.
"We are pleased with the appointment of Cortland. Having Cortland's combination of experienced professionals and advanced systems at our disposal provides us with a greater level of support, accuracy and transparency," says Steve Taplin, CEO of Diversified.
Dan Hart, managing director of Cortland, adds: "More and more institutional real estate investors are requesting managers such as Diversified to engage a third-party administrator at the outset. Having our implementation group working with the impressive team at Diversified early on has been beneficial. The breadth of Cortland's experience adds expertise and real value to the planning process."