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
"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