Business Services Industry
St. Louis Residential Real-Estate Leader Merges with Coldwell Banker.
Knight Ridder/Tribune Business News, September, 2001
By Chern Yeh Kwok, St. Louis Post-Dispatch Knight Ridder/Tribune Business News
Sep. 15--Gundaker Realtors, the largest residential real-estate company in the St. Louis area, has merged with Coldwell Banker Residential Brokerage, the companies said Friday.
The merger price wasn't disclosed, although industry sources put it at about $63 million.
Coldwell Banker is the local arm of NRT Inc., the nation's largest residential real-estate brokerage. NRT is based in Parsippany, N.J.
Gundaker Realtors had $3.35 billion in sales in 2000; NRT's sales exceeded $105 billion.
The merged company will have 50 offices and about 3,300 sales employees in the St. Louis area, and is expected to have annual sales of $4.7 billion.
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