Tuesday, July 23, 2019

Press Release: American Community Management Under New Ownership



American Community Management Under New Ownership

Long-time ACM Employee Buys Industry-Leading Firm


FOR IMMEDIATE RELEASE
July 23,  2019

HANOVER, MarylandAmerican Community Management today announced that President and CEO Theresa McCoy is its new owner following McCoy’s purchase of the management company from founder Mel Herzberger. McCoy and Herzberger finalized the purchase on July 9.


Herzberger, who founded ACM in 2001 by merging two management companies in the Baltimore-Washington, D.C., area, will remain on as an adviser to the company.

McCoy joined ACM in 2009 as vice president of accounting. She was appointed COO in 2015 and then president and CEO in 2018. During her tenure, McCoy has been instrumental in implementing numerous managerial and financial reporting and banking enhancements.

As president, McCoy directs the day-to-day operations of ACM, servicing more than 200 HOAs and condominiums in Maryland, and oversaw an experienced staff of 70 professionals working in community administrative management, accounting and property management. Under her leadership, she introduced operational efficiencies and explored business development opportunities while continuing to deliver on ACM’s core and ancillary services—always with a client-focused approach.

A certified public accountant, McCoy has nearly 20 years of experience working with management in a variety of businesses. Prior to joining ACM, McCoy served as an assistant controller with an international hotel chain; a senior finance officer with two multi-million dollar international non-profits; a senior development accountant for a real estate developer/management company; and as vice president of accounting/controller for a housing finance agency where she led an accounting system migration and delivery of a timely billion-dollar audit.

As ACM’s new owner, McCoy says she will endeavor to enhance ACM’s distinguished reputation of delivering impeccable customer service. The company’s new customer service call center is an example of this commitment. In addition, she plans to introduce a renewed approach to community management that focuses on relationship building, trust, integrity and hiring and empowering the best professionals in the business.

McCoy says she is also committed to leveraging technological advances to support the needs of ACM’s communities; protecting the association’s financial assets; working with vendor partners; and streamlining the volunteer work of its board members. Among her first initiatives as owner are a planned reorganization and rebranding of the company.

“I’m honored and grateful to Mr. and Mrs. Herzberger for granting me this amazing opportunity to carry on their legacy and implement my vision to expand on the incredible successes of ACM,” McCoy says. “It isn’t every day that an employee gets the chance to become an owner of a company in a unique industry with long-term and dedicated clients.”


Added Herzberger: “Having been in the residential and commercial real estate management industry since the late 1960s, I have had the good fortune to work with a variety of individuals who have been the most innovative and successful people in their chosen fields. When my wife and I decided to move on from our management of ACM, we looked for a company owner who would build on our work and move the company forward to the next level of success. We found that person and she was already our chief executive officer.” 

McCoy is a Washington, DC native and graduate of George Washington University where she received a degree in business administration in finance on a full academic scholarship. She was honored as a national scholar of the Horatio Alger Association for Distinguished Americans and continues to support this organization, which provides college scholarships to underprivileged youth. She enjoys coaching entrepreneurs and training young professionals and has a passion for mentoring youth and aspiring homeowners. 

American Community Management Inc. was founded in 2001 and has since emerged as one of the most prominent management firms in Maryland, servicing more than 28,000 households within over 200 residential properties, and an additional half-million square feet of office condominiums.

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