Coldwell Banker Success, an independently owned and operated Coldwell Banker affiliate in Scottsdale, Ariz., has acquired French & French Fine Properties of Santa Fe, N.M. The acquisition marks Coldwell Banker Success' first venture beyond the boundaries of its home state. "We had exhausted expansion opportunities in this state, and had been looking for just such an opportunity for extending our reach," Bob McCord, CEO of Coldwell Banker Success Realty, said in a statement. French & French is the second largest real estate company in New Mexico with 115 agents in four offices. The company sold more than $500 million in real estate with an average sales price of more than $400,000 in 2003, according to the Coldwell Banker Success statement. Coldwell Banker Success Realty has 38 offices and 2,200 sales associates in Arizona. McCord said the acquisition was a good match for the Coldwell Banker operation because both companies are "upper-...
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