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NRT Names Senior Vice President for Acquisitions
Senior Executive Promoted to Lead Acquisition Growth of Nation’s Largest Residential Real Estate Brokerage
Parsippany, N.J. – March 4, 2005
NRT Incorporated, the nation’s largest residential real estate brokerage company, today announced the promotion of Nicolai Kolding to the position of senior vice president, acquisitions. Since joining NRT in 1998, Kolding has held positions of increasing responsibility, most recently as vice president, acquisitions, where he was responsible for the prospecting, valuation, negotiations and due diligence surrounding real estate brokerage acquisitions.
“NRT is a company focused on growth, and acquisitions play a significant role in our organization’s successful, continued expansion,” said Bob Becker, chairman and chief executive officer for NRT. “With his financial acumen, impressive negotiating skills, and sound knowledge of real estate brokerage operations, I am confident that Nicolai Kolding will continue to lead NRT to higher levels of growth.”
In his expanded role, Kolding is also charged with designing, implementing, and executing the company’s acquisition strategy. Additionally, he oversees a staff of six, responsible for the valuation and negotiations of real estate brokerage companies. Kolding will continue to report to Becker.
During his tenure at NRT, Kolding has negotiated with nearly 500 companies and closed more than 120 acquisition transactions. Among the completed acquisitions are DBL Realtors in Beverly Hills, Calif., Strada Properties in Newport Beach, Calif., Fred Sands Desert Realty in Palm Springs, Calif., McCann Coyner Clarke in Palm Beach, Fla., and Coldwell Banker Sammis and National Homefinder Signature Properties on Long Island. Prior to joining NRT, Kolding held various positions within the finance and merchandising departments of Footstar, Inc.
An industry expert on the subject of mergers and acquisitions, Kolding has been a speaker for the National Association of REALTORS conference and at the REALTrends Gathering of Eagles, and has been quoted in numerous industry publications. Kolding earned a B.A. from Lehigh University in Bethlehem, Pa., and is fluent in Danish and Norwegian.
About NRT
NRT Incorporated is the largest residential real estate brokerage company in the United States and also has locations in the United Kingdom. With nearly 1,000 offices and 59,000 sales associates operating in over 35 major metropolitan areas, NRT posted a real estate industry record of $200 billion in closed sales volume in 2004. NRT (www.nrtinc.com) is a subsidiary of Cendant Corporation (NYSE: CD). Cendant (www.cendant.com) is one of the foremost providers of travel and real estate services in the world.
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