Business Services Industry
Florida's Two Largest Real Estate Brokerages Merge.
Knight Ridder/Tribune Business News, April, 2002
By Jack Snyder, The Orlando Sentinel, Fla. Knight Ridder/Tribune Business News
Apr. 18--The two biggest real estate brokerages in Florida merged Wednesday when St. Joe Co. sold its Arvida Realty Services subsidiary four years after buying it.
St. Joe said it sold the operation to NRT Inc., the nation's largest real estate company, for $170 million. NRT, controlled by travel and financial-services giant Cendant Corp., said it was folding Arvida into its Coldwell Banker Residential Real Estate Services operation to create a statewide company with more than 200 offices and 7,500 sales associates.
The resulting company -- Coldwell Banker Florida -- will be led by a former mayor of Oviedo, Judith Green, president of Coldwell Banker's...
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