For the second time in a week, Twin Cities-based HomeServices of America Inc., a Berkshire Hathaway affiliate and parent company of Edina Realty, bought one of its franchisees.
Berkshire Hathaway HomeServices Florida Network Realty, one of the biggest brokerages in northeast Florida, is now a wholly owned company of Berkshire Hathaway HomeServices. Terms were not disclosed.
The company, which has had Berkshire Hathaway HomeServices in its name since it became a franchisee several years ago, has been based in northeast Florida for nearly 28 years and has more than 330 sales associates in eight offices. In 2015, the company closed more than 3,000 deals worth nearly $900 million.
The acquisition comes as HomeServices is in the midst of a multiyear national expansion and is now the second-largest real estate holding company in the country. On May 10, the company acquired Berkshire Hathaway HomeServices Real Estate Professionals, which is one of the biggest residential brokerages in western Oregon. Home Services’ most recent acquisition before that was in late 2015, when it bought Allie Beth Allman & Associates, one of the biggest brokerages in the Dallas-Fort Worth area.
Florida Network Realty was founded in 1988 by Linda Sherrer, who will continue to lead the company.
“We are proud to be part of the HomeServices of America family,” Sherrer said in a statement. “We are joining an organization known for its strength and stability and one that supports our high standards of service and integrity.”