FirstService Residential Expands in New Jersey, Welcoming Waterside Condominium Association to Its Premier Portfolio

Rhea-AI Summary

FirstService Residential (NYSE:FSV) announced on Dec. 10, 2025 that it was selected to provide full-service property management for Waterside Condominium Association, a three-story high-rise on the Hudson River in Edgewater, New Jersey.

The company said it will deliver comprehensive, hands-on management and resident services for the community, which features a pool, sauna, concierge services, and views of the Manhattan skyline and George Washington Bridge. Company executives noted active engagement with the board and residents to implement a 360-degree support model.

Key Figures

Q3 2025 revenue $1.45B Q3 2025 consolidated revenue, up 4% year-over-year

Q3 Adjusted EBITDA $164.8M Q3 2025 Adjusted EBITDA, up 3% year-over-year

Q3 Adjusted EPS $1.76 Q3 2025 Adjusted EPS, up 8% year-over-year

9M 2025 revenue $4.11B Nine-month 2025 revenue, up 7% year-over-year

9M Adjusted EBITDA $425.2M Nine-month 2025 Adjusted EBITDA, up 13% year-over-year

9M Adjusted EPS $4.39 Nine-month 2025 Adjusted EPS, up 20% year-over-year

Quarterly dividend US$0.275 per share Cash dividend payable January 7, 2026

Annual revenues US$5.5B Reported company-wide annual revenues mentioned with dividend declaration

Market Reality Check

$149.87 Last Close

Volume Volume 147,840 with relative volume at 0.83 vs 20-day average 177,683. normal

Technical Shares at $149.87, trading below the 200-day MA of $177.39 and near the 52-week low of $149.13.

Peers on Argus 1 Up

Real estate services peers showed mixed moves, with names like OPEN up 4.96% and others such as CIGI and CWK down 1.22% and 1.38%, suggesting stock-specific dynamics for FSV.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Dec 04	Dividend declaration	Positive	+0.4%	Quarterly cash dividend of US$0.275 per common share announced.
Dec 01	Management change	Positive	-0.5%	New CFO with over 20 years finance leadership appointed.
Nov 10	Management appointment	Positive	+0.6%	Director of Residential Hospitality hired to enhance resident experience.
Oct 28	Portfolio expansion	Positive	-2.0%	Selected to manage Quincy Towers high-rise community in Massachusetts.
Oct 23	Earnings update	Negative	-9.8%	Q3 2025 showed growth but lower GAAP earnings and diluted EPS.

Pattern Detected

News-driven moves have been modest, with larger downside reaction following earnings and mixed reactions to positive operational updates.

Recent Company History

Over the past few months, FirstService reported solid fundamentals, with Q3 2025 revenue of $1.45B and Adjusted EPS of $1.76, yet the stock fell 9.76% after that earnings release. Subsequent portfolio and management updates, such as welcoming Quincy Towers and new leadership roles, produced relatively small price moves between about -2% and +0.57%. A recent quarterly dividend of US$0.275 per share on Dec 4, 2025 saw a mild positive reaction. Today’s New Jersey expansion fits this pattern of incremental, strategic growth news.

Market Pulse Summary

This announcement highlights incremental portfolio expansion, as FirstService Residential adds the Waterside Condominium Association in New Jersey to its managed communities. It follows recent milestones including Q3 2025 revenue of $1.45B, nine‑month Adjusted EPS of $4.39, and a quarterly dividend of US$0.275 per share. Investors may watch how new contracts contribute to segment revenue, upcoming earnings trends, and any further operational updates or management changes.

AI-generated analysis. Not financial advice.

EDGEWATER, N.J., Dec. 10, 2025 /PRNewswire/ -- FirstService Residential, the leading residential community management company, is proud to announce it has been selected to provide full-service property management for Waterside Condominium Association, a three-story, high-rise community nestled along the Hudson River in Edgewater, New Jersey.

"We are excited to welcome Waterside to the FirstService Residential family," said Michael Mendillo, President of FirstService Residential. "Our commitment is to elevate the resident experience and deliver exceptional service to this impressive community."

Waterside residents enjoy a lifestyle defined by luxury and convenience, with amenities including a sparkling pool, rejuvenating sauna, and attentive concierge services. The property's prime location offers breathtaking views of the Manhattan skyline and the iconic George Washington Bridge, making it one of Edgewater's most desirable addresses.

Arthur Bartikofsky, Senior Vice President at FirstService Residential, emphasized the company's hands-on approach: "We've hit the ground running, fully engaging with the board and residents. The board sought a management partner who could provide comprehensive, 360-degree support for their manager—and that's exactly what we deliver."

~www.fsresidential.com~

About FirstService Residential

FirstService Residential is simplifying property management. Its hospitality-minded teams serve residential communities across the United States and Canada. The organization partners with boards, owners, and developers to enhance the value of every property and the life of every resident.

Leveraging unique expertise and scale, FirstService serves its clients with proven solutions and a service-first philosophy. Residents can count on 24/7 customer care and tailored lifestyle programming, amenity activation, and technology for their community's specific needs. Market-leading programs with FirstService Financial, FirstService Energy, and special districts teams deliver additional levels of support.

Boards and developers select FirstService Residential to realize their vision and drive positive change for residents in the communities in their trusted care.

FirstService Residential is a subsidiary of FirstService Corporation (NASDAQ and TSX: FSV), a North American leader in providing essential property services to a wide range of residential and commercial clients.

View original content to download multimedia:https://www.prnewswire.com/news-releases/firstservice-residential-expands-in-new-jersey-welcoming-waterside-condominium-association-to-its-premier-portfolio-302635371.html

SOURCE FirstService Residential

FAQ

What did FirstService Residential (FSV) announce on December 10, 2025?

FirstService Residential announced it was selected to manage Waterside Condominium Association in Edgewater, New Jersey.

How large is the property FirstService Residential (FSV) will manage at Waterside?

Waterside is described as a three-story, high-rise community located on the Hudson River in Edgewater.

What services will FirstService Residential (FSV) provide to Waterside Condominium Association?

The company will provide full-service property management, including board engagement, manager support, and resident-focused services.

What resident amenities at Waterside were highlighted in the December 10, 2025 announcement?

The announcement highlighted a pool, sauna, concierge services, and scenic views of the Manhattan skyline and George Washington Bridge.

Does the Waterside management contract announcement state any financial terms or revenue impact for FSV?

No financial terms, contract value, or revenue impact were disclosed in the announcement.