Asset Living, a Houston-based leader in the property management sector, announced today that it has acquired Shelton Residential, an Arizona-based property management firm with a focus on conventional multifamily apartments.

Shelton Residential, originally founded in 1984, is one of the largest property management firms in Arizona and has more than 17,000 units spanning across Arizona, Texas, Colorado and New Mexico. This acquisition has allowed Asset Living to expand its presence even more in the Southwest.

“Shelton Residential has been one of the premier providers of institutional quality property management in the country, and we’re so thrilled about the immense opportunity this acquisition brings to Asset Living,” said Ryan McGrath, CEO of Asset Living. “I like to think about our acquisitions much more like partnerships than traditional acquisitions. It would be hard to find a leader or group of individuals that I would rather partner with than Tom and Pam Shelton and the Shelton team.”

With their team beside Asset Living and a combined 70 years of experience in the student housing, multifamily and affordable housing industry, this acquisition lets the property management company continue to bring clients a comprehensive suite of services that position properties for success throughout the nation.

“As a business owner, you constantly aspire to partner with business leaders that will take your company and your clients further –– for Shelton, that partner was Ryan and Asset Living,” said Tom Shelton, owner of Shelton Residential and former chairman of NAA. “They have been around as long as we have been in the property management sector and have a clear understanding of how to be forward-thinking and innovative in our competitive industry. This partnership is only the beginning. I, along with the entire Shelton team, am excited to lead the Southwest region for Asset Living.”

Both Shelton Residential and Asset Living are designated by the Institute of Real Estate Management as an Accredited Management Organization (AMO). For more information about the property management company, visit