HomeServices of America Inc. has established a presence in the nation’s Northeast with the acquisition of Prudential Connecticut Realty, whose 1,400 sales associates handled more than $2.5 billion in sales in 2011, working out of 50 offices located in markets across the state.
Prudential Connecticut Realty will retain its name and affiliation with Prudential Real Estate’s U.S. network, and its top executives — Chairman and CEO Peter Helie and President Candace Adams — will continue in those positions, running the firm’s day-to-day operations along with sales management and executive leadership teams.
A division of the company, Prudential Rhode Island Realty, has two offices serving the communities of Westerly and Watch Hill.
"I am delighted that HomeServices is establishing a presence in Connecticut," said Ron Peltier, chairman and CEO of HomeServices, in a statement. "I look forward to having Peter, Candace and their team join the HomeServices network of companies."
With the acquisition, Minneapolis-based HomeServices has 26 brokerage brands with more than 16,000 real estate professionals operating in 20 states, including Edina Realty (Minnesota), Koenig & Strey Real Living (Illinois), Prudential California Realty, Iowa Realty, Realty South (Alabama and Florida), and Long Realty Co. (Arizona).
A Berkshire Hathaway affiliate, HomeServices is the nation’s second-largest brokerage firm, after Realogy Corp.’s NRT LLC.
After acquiring Portland, Ore.-based Prudential Northwest Properties in February, Peltier said HomeServices was in a buying mode. Last month the company — a Berkshire Hathaway affiliate — acquired Prudential Northwest Realty Associates, a Seattle-based brokerage with more than 350 sales associates in six offices that handled more than $740 million in sales last year.