Indiana company acquires Sarasota association management firm

An Indiana-based real estate company has acquired a Sarasota firm in what it is calling a “strategic acquisition” that will enable it to break into the Florida market.

PMI Meridian Management of Indianapolis announced the acquisition this week of Capstone Association Management, which manages community associations of all sizes. Capstone, based on Potter Park Drive, will be renamed PMI Capstone, according to a statement.

“We are thrilled to welcome Capstone Association Management to the PMI family,” PMI Meridian Management Vice President Lee Clouse says in a statement. “This acquisition aligns perfectly with our growth strategy and allows us to bring our comprehensive property management solutions to the vibrant Florida market."