Urban Pace and The Long & Foster Companies Join Forces
Long & Foster Expands Business Lines by Investing in Urban Pace
WASHINGTON, April 20, 2016 /PRNewswire-USNewswire/ -- Urban Pace, which provides marketing, sales, advisory, and consulting services to real estate developers, has joined forces with The Long & Foster Companies. Urban Pace will continue to operate with its same team, brand, and current office location.
"Long & Foster identified the growing demand for urban vertical living as an enormous opportunity, and decided that they want to be part of that evolution," said Urban Pace founder Lynn Hackney. "Investing in the Urban Pace brand, systems, and team allows this to happen quickly and powerfully. Urban Pace services, operations, staff and relationships with our developer clients will remain exactly the same."
"In addition to our base office in Washington, DC, we now operate in New York City and Philadelphia as well," Ms. Hackney continued. "We've noticed that several successful firms using our business model – working directly with real estate developers – have been strengthened substantially by their affiliations with large residential real estate brokerage firms. Examples include Corcoran Sunshine Marketing Group, Douglas Elliman, and Halstead Property."
Going forward, Urban Pace will be able to leverage Long & Foster's marketing expertise and technology, including its affiliation with Christie's International Real Estate and access to over 11,000 agents. In addition, the Long & Foster partnership will enable Urban Pace to showcase its developments on Juwai.com, China's largest international real estate portal. Urban Pace offers Long & Foster a strong focus on advanced technology, substantial investment in marketing, and leadership in selling newly built condominiums on behalf of developers.
"For nearly 50 years, Long & Foster has guided people on their journeys home, and in recent years, that journey has led buyers and sellers to thriving urban markets like Washington, DC," said Jeffrey S. Detwiler, President and COO of The Long & Foster Companies. "In the Nation's Capital, Urban Pace is leading the charge in new construction sales and marketing, and we recognized the opportunity for both of our companies to grow our presence by joining forces."
"Working together, Long & Foster will better serve the region's home buyers and sellers with added knowledge and insight into new construction opportunities," Mr. Detwiler continued. "Similarly, Urban Pace will benefit from our expansive network and resources, from our partial ownership of a Seattle-based tech firm to our network of over 11,000 agents."
Ms. Hackney, previously Urban Pace's President, will assume a new role as CEO with Urban Pace, focusing on the firm's strategic direction and vision. Matt Dewey, who has been with Urban Pace for 11 years, will take on the role of President, handling all day-to-day operations and activities. Jennifer Harper will continue her key role as Senior Director, working with Dewey as part of the managerial team. Urban Pace expects to add at least two new executive managerial positions.
In her concurrent role as a Partner of Allyson Capital, Ms. Hackney will continue to serve as 2016-18 President of the District of Columbia Building Industry Association (DCBIA). She is the first woman to serve as President of the 44-year-old non-profit trade association representing the Washington, DC real estate development industry.
About Urban Pace: Urban Pace, now a part of the The Long & Foster Companies, provides marketing, sales, and advisory services to real estate developers specializing in condominium and multi-family developments. Founded in 2001, Urban Pace has worked on more than five million square feet of property and over 5,000 units. For more information, please visit www.urbanpace.com or call 202.841.2439. Follow Urban Pace on Facebook, (www.facebook.com/urbanpace) and Twitter (https://twitter.com/urbanpace).
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SOURCE Urban Pace
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