Interesting shake up in the real estate industry in Pittsburgh!
"Everest Holding Co., corporate parent of Northwood Realty Services, on Tuesday announced the acquisition of Berkshire Hathaway HomeServices The Preferred Realty and related entities.
Berkshire Hathaway HomeServices The Preferred Realty is the name of the new company. Terms of the merger, which is expected to close by mid-August, were not disclosed
The deal will create a leading residential real estate broker in the Pittsburgh region in volume, sales and listings based on West-Penn Multi-List data for 2018.
The new company will have 50 offices in 22 counties of Western Pennsylvania and eastern Ohio and more than 1,800 agents. Combined, the brokerages generated $85 million in gross commissioned income in 2017, placing the new company in the top 10 among all Berkshire HomeServices brokerages.
Northwood Realty Services CEO Tom Hosack will serve as co-president and CEO of the merged company and James Saxon, president, The Preferred Realty, will serve as co-president and COO.
Wendy West of Northwood will remain chairwoman of the board of directors and Ronald Croushore, CEO and owner of The Preferred Realty, will remain active in the company as vice chairman of the board.
“We are both family run companies that care deeply about the success of our agents and our employees,” Mr. Hosack said in a prepared statement.
Kris B. Mamula: kmamula@post-gazette.com or 412-263-1699"
Link to original article - http://www.post-gazette.com/business/development/2018/06/13/everest-holding-co-northwood-realty-services-berkshire-hathaway-homeservices-the-preferred-realty-merger/stories/201806130122