Coldwell Banker boosts M&A in '08
Real estate brief
By Inman News, Thursday, March 12, 2009.Coldwell Banker, an international real estate franchise company that is a part of Realogy Corp., reported that 96 affiliates expanded through mergers and acquisitions activity in 2008.
The company reported that its mergers and acquisitions activity was up 71 percent compared to 2007, including major moves by Coldwell Banker United in Bryan, Texas; Coldwell Banker Hubbell Briarwood in Lansing, Mich.; and Coldwell Banker Select in Tulsa, Okla.
The Coldwell Banker system added 22 new companies in the U.S. and Canada in 2008, including Coldwell Banker Integrity in Rancho Cucamonga, Calif.; Coldwell Banker Select Professionals in Lancaster, Pa.; and Coldwell Banker Castle Pines in Castle Rock, Colo.
The system includes about 3,500 residential real estate offices and 105,300 sales associates in 46 countries and territories.
Realogy Corp., Coldwell Banker's parent company, has an estimated $6.76 billion in debts, according to an annual report to investors (see Inman News) -- the debt stems from the company's acquisition by private equity firm Apollo Management LP.
Other Realogy brands include Century 21, ERA Real Estate, Better Homes and Gardens Real Estate, and Sotheby's International Realty, among others.
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Submitted by Rick Hardman on March 12, 2009 - 8:15am.
Interesting. This was perhaps a good call on the part of their affiliates who did that. This could really help their business in this economic crunch.
bergen county real estate
Submitted by Victor Lund on March 12, 2009 - 11:59am.
It would be great to get the whole story. I know that there has been a lot of success in other Realogy brands also. Sotheby's and Better Homes and Gardens Real Estate continues to expand and I know of a number of Century 21 acquisitions that have taken place too.
Much of the M&A activity that we are seeing is at the expense of Re/Max. Agents unable to pay desk fees to their broker have led to challenges all of the way up the food chain.
Victor Lund
Partner
WAV Group
http://waves.wavgroup.com
http://www.wavgroup.com
Submitted by Larry Whited Sr. on March 12, 2009 - 3:29pm.
So if Realogy (who reported a $1.9 billon dollar loss in 2008) does M&A with small non-profitable brokerages will they report a larger loss in 2009?
And then request a bailout from the government?
This could be strategic planning at its best or worst.
Pumping life into last century’s business model seems a futile attempt to justify existence i.e. I grow therefore I am.
Larry A. Whited, Sr., CRB, CRS, GRI
President & Founder
www.maxUnet.com & www.WebMLS.net
P.O. Box 757
West Chester Ohio 45071
Direct - (513) 543-2727 Fax - (513) 297-7497