Industry News

NRT completes multistate expansion

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NRT Inc., the nation's largest residential real estate brokerage company, today announced it acquired the assets of three real estate firms located in California, Connecticut and Massachusetts. The companies include Pierpont Bay Realty in Ventura, Calif.; Coldwell Banker Select Sites in greater New Haven, Conn.; and Coldwell Banker Towne and Country Realty in Sturbridge, Mass. Each company will now operate under the banner of Coldwell Banker Residential Brokerage in its respective local market. In 2005, NRT acquired 31 companies and entered several new markets, including Cape Cod, Mass.; Sun Valley, Idaho; Santa Fe, N.M.; Phoenix and Tucson, Ariz.; and Honolulu, Hawaii. The company operates more than 1,000 offices under the banners of Coldwell Banker, Sotheby's International Realty Inc., ERA and The Corcoran Group, which also oversees Citi Habitats and The Sunshine Group. Since its inception in 1997, NRT has acquired more than 320 companies. NRT, a subsidiary of Cendant Corp., inclu...