Norwood-based HallKeen Management will has acquired MB Management of Braintree.  Terms of the deal between the two property management firms were not disclosed.

"This transaction is the best of all worlds for both companies. It allows both to operate independently while giving both access to complimentary resources of the other. The result will be superior service to clients and residents," said MB Management CEO Steve Roberts.

The firms expect to fully integrate their portfolios by May 2014.  The addition of MB Management’s 2,700 units will increase HallKeen’s porfolio to over 10,000 units of multi-family and assisted living housing.

"HallKeen is pleased to finalize the relationship with one of the most respected management firms in New England," said Andrew P. Burnes, president and CEO of HallKeen in a statement. "For over 40 years, MB Management has been a key player in the industry.  It is an exciting time for both MB Management and HallKeen, as we bring together our companies into a new era of successful business ventures and expertise."