HomeServices of America Inc. announced yet-another acquisition in its national expansion -- its third deal so far this year.
The Minneapolis-based residential real estate brokerage firm -- the parent of Edina Realty -- is owned by a subsidiary of Warren Buffet's Berkshire Hathaway Co. On Tuesday, it said it was buying Prudential Georgia Realty, one of Atlanta's largest residential real estate brokerage firms. Terms were not disclosed.
Headquartered in Atlanta, Ga., Prudential Georgia serves the greater-Atlanta metro area, with nearly 1,000 sales associates and 20 offices. It has the top ranking in terms of number of homes sold, transactions, total units, listing and buyer sales and inventory.
Under the new structure, Prudential Georgia Realty will retain its name and remain a flagship franchisee of Prudential Real Estate's U.S. network.
HomeServices already has a footprint in Atlanta after buying Harry Norman Realtors in 2006. In January, HomeServices purchased brokerages in Missouri and California.
Janet Moore covers commercial real estate for the Star Tribune.
