Vacasa has bought two firms in Virginia Beach, Virginia [Credit: Sandbridge Realty]

Vacasa completes acquisition of two Virginia Beach firms

US: Oregon-based vacation rental management firm Vacasa has announced its entry into Virginia with the acquisition of two companies in Virginia Beach: Sandbridge Realty and Beach Pros Realty.

Financial details of the transactions were not disclosed by Vacasa.

Founded in 1992, Sandbridge Realty has served Sandbridge Beach and the surrounding areas of Virginia Beach, offering “hundreds” of beach homes and condos and also providing real estate sales in Hampton Roads. Meanwhile, Beach Pros Realty has been operating since 2010 as a full service real estate firm for sales and vacation rentals.

In the meantime, Vacasa will retain the two companies’ employees and their four office locations, ahead of their integration onto the booking site this summer.

Zac Monahan, Vice President of corporate development and homeowner success at Vacasa, said: “Virginia Beach is a highly sought-after East Coast vacation spot. The homes managed by Sandbridge Realty and Beach Pros Realty are valuable portfolio additions for us, because they appeal to both long-term family stays as well as shorter economy stays in a drive-to market.”

Sandbridge Realty founder and owner, Betsy Atkinson, said: “I’m extremely proud of the business my team and I have built, the partnership we’ve established with homeowners and the service we’ve delivered to guests over the past 30 years, and I trust Vacasa is well-positioned to take it to the next level. Our homeowners won’t see any near-term changes, but will benefit from Vacasa’s advanced marketing, technology tools and booking channel partnerships to drive more consistent, year-round reservations.”

The acquisitions mark the latest milestone for Vacasa after the firm went public in December via a merger with special purpose acquisition company [SPAC] TPG Pace Solutions, raising gross cash proceeds of $340 million and debuting with a valuation of $4.4 billion in the process.

Vacasa’s footprint includes more than 35,000 homes and spans across 400+ destinations in North America, Belize and Costa Rica.

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