Synergy Global Housing (Synergy) in California, the serviced accommodation programme management company, and Primestone Partners, a New York-based advisory and housing solutions firm, have announced that they have entered into a definitive agreement under which Synergy will acquire Primestone Housing Solutions for an undisclosed amount.

Primestone Housing Solutions, which arranges extended-stay housing for corporate clients, is one of three businesses operated by parent company, Primestone Partners.

With this acquisition, Synergy says it will be able to drive additional revenues through expansion of its current client base and new strategic relationships with multifamily property managers and owners in New York, the Southeast and additional regions throughout the US.

“Synergy and Primestone have been supply chain partners on scores of transactions in recent years, creating a natural fit for our two companies,” said Henry Luebbert, Synergy Co-Founder. “By leveraging Synergy’s scale and Primestone’s relationships, this transaction will provide our clients with access to a host of new apartment options nationwide.”

“This transaction allows us to focus our attention and resources on our core technology business,” said Bruce Witherell, CEO of Primestone Partners LLC. “Our housing solutions clients will benefit from Synergy’s global reach, expansive inventory and the breadth of its programmes and services. Our multifamily partners will see a substantial uptick in reservation flow from Synergy’s industry-leading sales force and substantial client base. Synergy has been a great partner, and we will continue to look for new ways to work together in the future.”

This transaction is part of Synergy’s continued growth strategy. The company opened new operations in Texas on January 2, 2024.