Edina Realty parent, HomeServices of America, makes major acquisition
- Blog Post by: Jim Buchta
- August 14, 2013 - 2:01 PM
HomeServices of America, the Twin Cities-based owner of Edina Realty and the second-largest real estate company in the U.S., is on a roll. The company said that it has acquired Prudential Fox & Roach, Realtors, the fifth largest standalone brokerage in the county. The deal includes PFR's subsidiary, The Trident Group, which includes Trident Mortgage Company, Trident Insurance and Trident Land Transfer Company.
The deal is the biggest yet for HomeServices, a Berkshire Hathaway affiliate, as it embarks on what is expected to be a banner year for acquisitions.Terms were not disclosed.
Prudential Fox & Roach is headquartered in Philadelphia and is the largest brokerage in the Tri-State region of Pennsylvania, New Jersey and Delaware, and is the largest single-market residential real estate brokerage in the U.S.. The company has more than 4,000 sales associates in 62 offices with $8.3 billion in sales and about 25,000 transacations.
Ron Peltier, chairman and CEO of HomeServices of America, said that Prudential Fox & Roach will retain its name until it becomes part of the new Berkshire Hathaway HomeServices franchise later this fall.
I'm working on a story for the Thursday paper, including more information about HomeServices and a complete list of its 2013 acquistions.
- Jim Buchta, residential real estate reporter for the Star Tribune
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