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COLDWELL BANKER RESIDENTIAL BROKERAGE ACQUIRES PIERPONT BAY REALTY IN VENTURA, CALIF.
Prominent Real Estate Leader Strengthens Presence in Ventura
LOS ANGELES, Calif. – March 29, 2006
Coldwell Banker Residential Brokerage in Greater Los Angeles today announced it acquired the assets of Pierpont Bay Realty in Ventura, Calif. The single-office firm conveniently located on the Ventura beachfront walk will now do business as Coldwell Banker Residential Brokerage. With this announcement, Coldwell Banker Residential Brokerage will now operate two offices in Ventura.
Joseph Gallegos, owner and manager of Pierpont Bay Realty will continue with the combined company in a sales capacity. He will work closely with our managers of the existing Coldwell Banker Residential Brokerage and Property Management offices in Ventura County.
“Pierpont Bay Realty is an outstanding company with a reputation for excellent service and superb talent,” said Betty Graham, president and chief operating officer of Coldwell Banker Residential Brokerage in Greater Los Angeles. “This union will strengthen our sales team’s presence in Ventura and Oxnard, as well as expand our property management capabilities along the beach communities up the coast to better serve clients in these areas.”
Pierpont Bay Realty has been providing Ventura and Oxnard consumers with real estate sales and property management assistance for two decades. The company has 11 sales associates that accounted for approximately $14 million in sales volume in 2005, and two property managers who oversaw 120 long-term leases and nearly 40 vacation rentals.
“The joining together of two of the most notable real estate companies in Ventura will bring tremendous benefits to our associates and our clients, with expanded service offerings that will complement and support our transactions,” said Gallegos. “I am confident that the transition will be effortless as we, like Coldwell Banker Residential Brokerage, pride ourselves on exceptional service, attention to detail and an unwavering commitment to professionalism in all that we do.”
Coldwell Banker Residential Brokerage in Greater Los Angeles is the leading residential real estate company in Los Angeles, Santa Barbara, Ventura and Riverside counties, with 57 offices and nearly 4,000 sales associates. More information is available at http://www.californiamoves.com. Coldwell Banker Residential Brokerage is a member of the NRT family of companies. NRT (www.nrtinc.com) is a subsidiary of Cendant Corporation (NYSE: CD).
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