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.
What’s your opinion? Leave your comments below or send a letter to the editor.