Coldwell Banker Realty, a Realogy company headquartered in Madison, acquired franchisee affiliate Coldwell Banker Bain, which serves the Pacific Northwest market.
Financial terms of the deal were not immediately disclosed. Following the acquisition of The Landover Corp., doing business as Coldwell Banker Bain, from investment firm US RES Holding LLC, the real estate brokerage will continue to operate under the Coldwell Banker Bain banner, according to an April 19 announcement.
Through the acquisition, Coldwell Banker Realty welcomes 1,300 independent sales agents across 37 offices. Coldwell Banker Bain President and CEO Mike Grady, along with his management team and brokerage force, will remain with the combined company.
Grady joined Coldwell Banker Bain in 1994 and became chief operating officer in 2009. He was named CEO in 2021. That same year, Coldwell Banker Bain achieved a total sales volume of more than $8 billion and ranked as the top network affiliate in adjusted gross income out of 3,000 offices across 40 countries and territories. Founded in 1972, the agency now boasts the highest count of certified Luxury Property Specialists from the affiliate network.
Together with Coldwell Banker Bain, Coldwell Banker has more than 53,000 affiliated sales associates in 642 offices in 55 markets across the U.S., with a combined closed sales volume of nearly $204 billion, based on 2021 sales.
“I’m excited to welcome Coldwell Banker Bain. The company has been a North Star for luxury real estate for over 50 years and we are proud to support their legacy,” M. Ryan Gorman, CEO of Coldwell Banker Realty, said in a statement. “Together we further bolster our surrounding affiliates with a strategically unified Coldwell Banker front. They make a remarkable addition to our team.”