Alta Communications, a Boston-based private equity firm formed in 1996 to focus exclusively on the media and telecommunications industries, has acquired New Homes Realty Inc., the companies announced last week.

Clearwater, Fla.-based New Homes Realty provides buyer’s agent services for new and resale homes in 38 states through a network of more than 400 licensed real estate agents and brokers.

The New Homes Realty family of Web sites generates home buyer leads for its broker and agent network. The company was founded by Richard J. Davis in 1992 as New Homes Advisory in Clearwater, Fla., and specialized in finding new homes for buyers.

“This acquisition is the next logical step in the evolution of New Homes Realty Inc. Alta Communications’ 20 years of investment experience and its successful track record in media and telecommunications companies truly enhances New Homes Realty Inc.’s potential for outstanding growth,” Davis said in a statement.

Alta has approximately $1.5 billion of capital under management in five limited partnerships, which consist primarily of large pension funds and university endowments.

Valeri Marks will join New Homes Realty as president and CEO and Dave Zynn will become chief financial and operating officer.

“The departing New Homes Realty management team has done a fantastic job positioning the company to be a leader in the residential real estate buy-side brokerage business. We are very excited to provide the necessary resources to continue the company’s growth and further enhance services to our clients,” states Tim Dibble, managing general partner at Alta Communications.

Show Comments Hide Comments


Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Thank you for subscribing to Morning Headlines.
Back to top
Keep up-to-date on tools and tactics to impress your clients and outshine your competition with the 2022 virtual bundle.Register Now×
Agent Appreciation Sale: Inman Select for only $85.CLAIM OFFER×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription