Just Listed brings you the latest news and information from the Twin Cities-area commercial and residential real estate market and beyond from veteran reporters Jim Buchta and Kristen Leigh Painter.

HomeServices of America acquires Chicago's Prudential Rubloff Properties

Posted by: Jim Buchta under Buying Updated: November 12, 2013 - 4:58 PM

Twin Cities-based HomeServices of America, Inc. said that after a decade-long courtship, the company has acquired Prudential Rubloff Properties, one of the leading brokerages in the Chicago market.

Speaking from Chicago where he announced the deal, HomeServices CEO, Ron Peltier, said Prudential Rubloff Properties and its subsidiaries will merge with Chicago area brokerage Koenig & Strey Real Living Real Estate, which HomeServices acquired in September 2009. Next spring those combined companies will become Berkshire Hathaway HomeServices KoenigRubloff Realty Group.

Terms of the deal, which includes the company’s subsidiaries, Rubloff Insurance and Sterling Title Services LLC, were not disclosed, but the deal will create a single company that will have nearly 1,600 agents and staff in the Chicago metropolitan area. Last year, the combined firm closed more than $4 billion in sales volume.

The company is expected to be the second-largest brokerage in that market, and it's a deal that Peltiering has been trying to put together for more than a decade, and it follows several acquisitions already this year.

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