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Coldwell Banker Residential Brokerage Acquires One Source Realty in San Diego
Union Strengthens Company's Presence in Core Markets
SAN DIEGO - June 20, 2007
Coldwell Banker Residential Brokerage in Greater San Diego, Temecula Valley and the Desert Regions today announced it has acquired the assets of Seaman Real Estate Services, Inc. that operates as One Source Realty in San Diego. Additionally, the assets of the company's related escrow company, San Diego Escrow, will be acquired by NRT Incorporated, the parent company of Coldwell Banker Residential Brokerage.
One Source Realty is owned by Gregg C. Seaman, president, and Jeanine Seaman, vice president, and includes more than 200 sales associates in three offices in Mission Valley, El Cajon and Rancho Bernardo. The company accounted for approximately $725 million in closed sales volume over the past year.
With this acquisition, Coldwell Banker Residential Brokerage now has 38 offices located throughout San Diego and Riverside counties and 2,000 sales associates. Last year, the company was responsible for more than $5.8 billion in closed sales volume.
"This is an excellent opportunity to expand in the core residential markets of central San Diego, East County and the Route I-15 corridor," said Rick Hoffman, president of Coldwell Banker Residential Brokerage in Greater San Diego, Temecula Valley and the Desert Regions. "We are also pleased to announce that Gregg Seaman will remain with our team and take the position of senior real estate sales and operations advisor, helping ensure a smooth integration of the two firms."
"One Source Realty has been providing real estate services in the greater San Diego area since 1986," said Gregg Seaman. "I am very confident that combining our efforts under the well-known and well-respected Coldwell Banker Residential Brokerage name will enable our agents and staff to continue to provide unparalleled real estate services to our clients."
Coldwell Banker Residential Brokerage in the Greater San Diego, Temecula Valley and Desert Regions is a leading residential real estate brokerage company, operating 38 offices with 2,000 sales associates serving San Diego and Riverside Counties. Coldwell Banker Residential Brokerage in Greater San Diego, Temecula Valley and Desert Regions (www.californiamoves.com) is part of NRT Incorporated, 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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