|
|
|
|
Coldwell Banker Residential Brokerage Acquires William Orange Realty in Greater New Haven, Conn.
DANBURY, Conn., – October 6, 2005
Coldwell Banker Residential Brokerage in Connecticut and Westchester County, N.Y., today announced that it has acquired William Orange Realty, Inc., which maintains its headquarters in Orange, Conn., as well as sales offices in New Haven and Woodbridge. The firm will now operate under the banner of Coldwell Banker Residential Brokerage. The newly combined company holds the No. 1 market share in New Haven County.1
With this acquisition, Coldwell Banker Residential Brokerage now has eight offices in New Haven County: Madison, Woodbridge, Cheshire, Orange, North Haven, Milford, Westville/Woodbridge and Oxford, Conn.
“This represents one of our larger acquisitions and expands our presence in the growing Greater New Haven region,” said Peggy Doepper, president and chief operating officer of Coldwell Banker Residential Brokerage in Connecticut and Westchester County, N.Y. “We are delighted to welcome the talented real estate professionals of William Orange Realty into the Coldwell Banker Residential Brokerage family.”
The transaction represents the 23rd acquisition since 1998 by Coldwell Banker Residential Brokerage in Connecticut and Westchester County, N.Y., under Ms. Doepper’s leadership.
The acquisition of William Orange Realty continues Coldwell Banker Residential Brokerage’s expansion in Connecticut and reinforces its position as the state’s No. 1 residential real estate brokerage, with more than $5.8 billion in closed sales volume last year.2 With this announcement, Coldwell Banker Residential Brokerage now operates 40 offices with more than 1,600 sales associates statewide.
William Orange Realty’s 57 sales associates accounted for a total closed sales volume of approximately $220 million during the past 12 months. The company’s president and broker-in-charge, Frank D’Ostilio, Jr., will remain with the combined company as a vice president, joining the senior management team.
In 1989, D’Ostilio acquired the former Orange Agency, originally established in 1959, and renamed it William Orange Realty. Under his direction, William Orange Realty evolved into one of the area’s top-selling residential real estate firms and expanded into three locations.
A real estate professional with 20 years experience, D’Ostilio is a well-known figure in the New Haven community, where he previously served as president of the Greater New Haven Association of Realtors. A resident of Woodbridge, Conn., he is also an active member of the Connecticut Association of Realtors and currently serves on the Board of Directors of the Greater New Haven Chamber of Commerce.
“Coldwell Banker Residential Brokerage in Connecticut and Westchester County is a great fit for our agents and management team,” said D’Ostilio. “The Coldwell Banker Previews International marketing program for exceptional properties, its New Homes division, and its relationship with its sister company, Cendant Mobility, will enhance the services our agents deliver to our loyal clients,” D’Ostilio said.
Coldwell Banker Residential Brokerage’s corporate offices are located at 51-53 Kenosia Avenue, Danbury, Conn. For further information, call 800.756.3660 or visit www.coldwellbankermoves.com. The flagship office of William Orange Agency is located at 564 Racebrook Road, Orange, Conn. 06477. Tel: (203) 795-6000; Toll Free: (800) 799-2567; Fax: (203) 799-3251.
About Coldwell Banker Residential Brokerage
Coldwell Banker Residential Brokerage in Connecticut and Westchester County, N.Y., is a member of the Coldwell Banker® system, consisting of approximately 3,600 offices with 113,800 Sales Associates worldwide. Coldwell Banker Residential Brokerage is part of the NRT family of companies. NRT Incorporated, a subsidiary of Cendant Corporation (NYSE: CD), is the nation's largest residential real estate brokerage company. In 2004, NRT posted a real estate industry record of $204 billion in closed sales volume.
Press Release Index |
|
|
