Prudential PenFed Realty Acquires Prudential Professional Realty in Clarksville, Tenn. and Fort Campbell, Ken. Acquisition of Prudential Professional Realty to provide increase service to military personnel
WASHINGTON, July 23, 2012 /PRNewswire/ -- Prudential PenFed Realty, a leading real estate company wholly owned by Pentagon Federal Credit Union (PenFed), announced today that it has finished its acquisition of Prudential Professional Realty in Clarksville, Tenn., an independent franchise outside the Fort Campbell military base, which has been rebranded as Prudential PenFed Realty.
"We look for firms that are well-led and provide best-in-class services to their respective communities in assisting buyers and sellers in meeting their real estate needs," said Shashi Vohra, executive vice president of the PenFed Group, which oversees Prudential PenFed Realty. "This acquisition will allow us to continue to provide best-in-class real estate services to our members and those within the greater Clarksville community."
The Tennessee realty agency's specialty is buying and selling homes as well as property management, a similar mix of services offered by Prudential PenFed Realty. The firm is also located next to the Fort Campbell Army Post and the number of PenFed members moving into and out of the greater Fort Campbell community continues to grow.
"Having run Prudential Professional Realty since 1994, I find it exciting to see it become part of a larger company with a solid reputation for providing top realty and financial services across the country," said Bobby Powers, broker and owner of the Tennessee agency. "The combined resources will really help homebuyers get the most bang for their buck."
Power has spent his entire life in the Fort Campbell area and has extensive contacts with business leaders and the post's military and civilian leaders.
James Schenck, president of the PenFed Group, commented that Prudential PenFed Realty is very proud to have the leadership of Bobby Powers now part of the PenFed family. "We pride ourselves on hiring the best that put the customer first in handling their real estate needs and look forward to growing to become the number one firm in the Clarksville community."
The acquired agency has approximately 60 agents with unit sales of 950 and had $155 million in sales volume in 2011. The company was in the top tier in overall market share for the greater Clarksville community. In addition, the agency currently manages over 500 rental units under its property management division.
"Prudential PenFed Realty continues to grow, both in the greater Washington area and other parts of the country," said Vohra. "This acquisition will give us more agents and more resources to help homebuyers find their dream home with the company they've come to trust."
About Prudential PenFed Realty
Prudential PenFed Realty, wholly owned by Pentagon Federal Credit Union (PenFed), is a full-service real estate company with an annual sales volume over $1.7 billion. Recognized as a leading real estate company in its service area, it is ranked in the top one percent of Prudential affiliates nationwide. With 40 offices and over 1000+ world-class sales professionals, Prudential PenFed Realty offers complete service coverage in the Maryland, Northern Virginia, West Virginia, Pennsylvania, Delaware and Washington, D.C. markets as well as parts of North Carolina and Texas.
To learn more, go to: http://www.penfedrealty.com.
SOURCE Prudential PenFed Realty