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Post Info TOPIC: Marin-Based Real Estate Company Acquires Major Competitor

Learning to Fly

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Posts: 49
Date: Jul 21 12:32:14 2009
Marin-Based Real Estate Company Acquires Major Competitor

Marin real estate firm Morgan Lan Marin Inc. has acquired one of its largest competitors, Pacific Union GMAC Real Estate.  There will now be seventeen offices in the Marin / Bay area and will feature more than four hundred real estate professionals.  As of now, projected sales volume will exceed two billion dollars.  Less than ten years ago, Pacific Union had more than three billion dollars in sales.  It was one of the top real estate companies in the region, with a focus on high end real estate in Marin.

The amount of the acquisition was kept private, but it is thought that Morgan Lan Marin bought Pacific Union at bargain prices.  The deal will make the Marin based company one of the real estate giants, however, in these times, it may not be an easy road ahead. 

Sagging homes sales and large declines in pricing have reduced the real estate industry significantly.  In California alone, realtor memberships have declined by almost twenty percent since 2006.


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