NRT, Inc. Acquires Coldwell Banker Equitable Stefaniak and Federated Realty Group In Milwaukee

Acquired Groups Will Operate Under the Coldwell Banker Residential Brokerage


Jul 02, 1999, 01:00 ET from Coldwell Banker Residential Brokerage

    DES PLAINES, Ill.,  July 2 /PRNewswire/ -- NRT Incorporated announced
 today the acquisition of Coldwell Banker Equitable Stefaniak and Federated
 Realty Group, residential real estate firms with a combined 400 sales
 associates and 10 offices throughout the Milwaukee area.  Included in the deal
 was Coldwell Banker Lakeshore Partners, a Coldwell Banker Equitable Stefaniak
 company.  The acquired companies will operate under the Coldwell Banker
 Residential Brokerage name, with current management continuing to play an
 active role.
     "NRT is creating a mosaic of real estate experts throughout the Midwest,"
 said Ralph Burnet, senior vice president, NRT Incorporated.  "Coldwell Banker
 Equitable Stefaniak and Federated Realty Group are both residential real
 estate leaders in the Milwaukee area.  NRT is fortunate to have them on board,
 to draw upon their expertise and excellent reputation for customer service."
     Coldwell Banker Stefaniak and Federated Realty recorded a combined $938
 million in closed sales volume in 1998.  Gene Stefaniak, managing partner of
 Coldwell Banker Stefaniak, Gretchen Peck, vice president of Federated Realty
 Group, and Ted Purtell, president of Federated Realty Group, will continue to
 be responsible for the operation of the Milwaukee offices.
     "Day-to-day management will continue to be directed from Milwaukee," said
 Peck.  "This acquisition, however, will provide us with new programs,
 resources and the support we need to continue to serve consumers as a
 Milwaukee area leader in residential real estate."
     With the acquisition of the Milwaukee companies, Coldwell Banker
 Residential Brokerage will operate 86 offices with over 4,100 sales associates
 throughout the Milwaukee, Chicagoland, Northwest Indiana and Southwest
 Michigan areas.  Combined 1998 sales volume for the three companies would have
 totaled over $9 billion.
     "The real estate industry is rapidly consolidating," said Stefaniak.
 "Through acquisitions and growth, however, Coldwell Banker Residential
 Brokerage can provide even more programs and support for sales associates and
 serve customers as a marketplace leader in residential and commercial real
     Burnet cited the company's ability to provide its clients with a multitude
 of options in marketing their homes, many made possible due to the company's
 continued growth and success.  "Coldwell Banker Residential Brokerage has the
 clout and expertise needed to deliver outstanding support programs to our
 sales associates, from preferred alliances to advertising," said Burnet.  "Our
 marketing systems, for example, provide access to more and better information,
 and allow our sales associates to more effectively partner home sellers and
     Coldwell Banker Residential Brokerage is the number one real estate
 services firm in the Midwest with 86 offices and over 4,100 sales associates.
 NRT, Inc., the parent company of Coldwell Banker Residential Brokerage, is a
 leading owner of residential real estate brokerages in the United States with
 over 550 offices and more than 30,000 sales associates.

SOURCE Coldwell Banker Residential Brokerage