ERA Real Estate expands LA footprint

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Realogy franchise ERA Real Estate is expanding its footprint in Los Angeles with the acquisition of Shorewood Realtors by the owner of one of its largest affiliated brokerages, ERA Herman Group Real Estate. The acquisition brings 250 agents in nine offices to the ERA network. Roger Herman, the owner of ERA Herman Group Real Estate, purchased Shorewood Realtors through LBH National Corp., a company he formed solely to push the deal through, according to a company spokeswoman. ERA Herman Group would not have been able to make the acquisition under California law, she said. ERA Herman Group Real Estate owns and operates ERA franchises in Colorado, Florida and Las Vegas. Herman will serve as Shorewood Realtors' CEO. The firm's founder, Arnold Goldstein, has been named chairman emeritus. The acquisition is the largest by an ERA affiliate to date and triples the size of Herman's real estate brokerage-related operations, the companies said. Shorewood Realtors, which recorded a...