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Coldwell Banker Residential Brokerage Acquires Major Real Estate Brokerage Firm On Los Angeles' Westside
Acquisition Strengthens Company's Presence in Core Marina del Rey Market
LOS ANGELES - December 30, 2008
Coldwell Banker Residential Brokerage in Greater Los Angeles today announced the acquisition of the assets of Innovative Realtors, Inc., a leading boutique residential real estate brokerage firm based in Marina del Rey, Calif.
"This acquisition is an excellent opportunity for us to further penetrate our core market," said Betty Graham, president and COO of Coldwell Banker Residential Brokerage in Greater Los Angeles. "The seasoned industry experts at Innovative Realtors specialize in one of our top geographical areas, and they will further strengthen our presence in the Westside luxury market."
Innovative Realtors, which is located at 124 W. Washington Blvd. in Marina del Rey, accounted for more than $86 million in sales volume during the last 12 months. It will now operate under the Coldwell Banker Residential Brokerage name.
"Coldwell Banker Residential Brokerage is the market leader in the luxury Westside marketplace," said Steve Aguilar, founding owner of Innovative Realtors. "The company not only offers us unparalleled brand presence in local markets, but also provides us with the ability to reach national and international markets. As a result of this acquisition, our agents will have the depth of resources required to succeed in this competitive marketplace. We're thrilled to join their team."
With this acquisition, Coldwell Banker Residential Brokerage will gain 42 full-time agents, as well as the senior leadership of Steve and Renee Aguilar, who have more than 23 years of combined industry experience and will continue with the company in a sales capacity.
In recent years, Coldwell Banker Residential Brokerage in Greater Los Angeles has made numerous acquisitions of high-profile boutique companies as well as large-scale real estate organizations.
About Coldwell Banker Residential Brokerage in Greater Los Angeles
Coldwell Banker Residential Brokerage in Greater Los Angeles (www.californiamoves.com), a leading residential real estate brokerage company, operates 40 offices with 2,550 sales associates. The Company is part of NRT LLC, the nation's largest residential real estate brokerage company. NRT, a subsidiary of Realogy Corporation, operates Realogy's company-owned real estate brokerage offices.
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