The Twin Cities-based owner of Edina Realty has acquired an east coast real estate company that is the fifth largest standalone brokerage in the U.S.
The Star Tribune reports it represents the biggest deal yet for HomeServices of America, Inc., a Berkshire Hathaway affiliate which has been in an acquisition mode. Reuters calls HomeServices the nation's second-largest, full-service residential real estate brokerage firm and one of the nation's largest brokerage-owned settlement services providers. It is the majority owner of the Berkshire Hathaway HomeServices franchise brand.
Terms of the sale were not disclosed.
Prudential Fox & Roach, headquartered in Philadelphia and its subsidiary, The Trident Group-- comprised of financial services companies including Trident Mortgage Company, Trident Insurance and Trident Land Transfer Company--will be added to the HomeServices portfolio. Prudential Fox & Roach has more than 4,000 sales associates in 62 offices in Pennsylvania, New Jersey and Delaware.