Parent firm of Edina Realty acquires company in Seattle

Updated: April 5, 2012 - 7:54 PM

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HomeServices of America is continuing its westward expansion.

The Minneapolis-based parent company of Edina Realty said Thursday that it acquired Seattle-based Prudential Northwest Realty Associates, a move that will bolster its presence in the Pacific Northwest.

Earlier this year, HomeServices acquired Prudential Northwest Properties, which is based in Portland, Ore.

With brokerage prices down and the housing market improving, HomeServices expects to acquire more companies this year than during any other.

Prudential Northwest has more than 350 sales associates in six offices, and in 2011 had more than $740 million in sales. The company will retain its name, and Mike Gain, president and CEO of Prudential Northwest, will continue to manage the day-to-day operations of the company.

"Prudential Northwest Realty is a strong company with an excellent reputation in a growth market," said Ron Peltier, chairman and CEO of HomeServices. "This aligns with our vision of acquiring distinguished companies in leading markets that share our core values."

JIM BUCHTA