Coldwell Banker Acquires Frank Howard Allen Realtors
Big news in Bay Area real estate was announced yesterday. Coldwell Banker Residential Brokerage acquired 13 offices from Frank Howard Allen Realtors in Marin and Sonoma Counties. Prior to the acquisition of the 13 offices, Coldwell Banker Residential had 57 offices in Northern California with $17.7 billion in sales in 2012.
Frank Howard Allen Realtors is a top North Bay residential brokerage firms, ranked in 2013 by REAL Trends 500 report among the top 60 real estate brokerages in the US with approximately $1.85 billion in closed sales volume in 2012. Frank Howard Allen has close to 300 agents in the North Bay offices – Coldwell Banker Residential plans to keep all offices, managers, and sales teams in place to make the transition as smooth as possible and to continue to serve customers as wonderfully as they have been.
Larry Bracket, Frank Howard Allen’s chairman and chief executive officer stated during the annoucement, “The Coldwell Banker Residential Brokerage sales team is extremely professional and experienced, especially in the luxury market. Coldwell Banker Residential Brokerage is part of a national brokerage, and the company’s offices are locally managed with local leadership. Like us, they take great pride in giving back to their communities.”
Both Frank Howard Allen and Coldwell Banker Residential Brokerage have been institutions in the Bay Area real estate industry for more than a century. With both companies deeply rooted in Bay Area real estate, with a fine reputation of giving back to their communities, this is sure to be a lucrative and successful acquisition.
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